This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Opponents: Va. Uranium Bill Doomed In Committee

Its proposal, however, has been opposed by a wide array of interests: farm groups, civil rights organizations, business associations, environmentalists and municipal groups.

"These entities don't normally agree with each other but they're all unanimous in opposition," Axselle said.

The crafting of legislation that limits mining to Virginia Uranium and the deposit in Pittsylvania County also hasn't won any fans, he said.

"It's not consistent with the good statewide approach balancing the risks and rewards," Axselle said. "I think everybody who's looked at this have said the rewards are few, the risks are many."

Opponents contend the storage of waste from the uranium's processing would pose a risk for generations and threaten public water supplies. Virginia Uranium has said its below-grade storage would minimize risks.

Watkins' legislation got off to a bad start when it was assigned to Senate Agriculture instead of his preferred committee, commerce, which is believed to be more favorable to uranium mining.

The Virginia Farm Bureau Federation, the state's agriculture lobby, took a stand against uranium mining in December.

Sen. Emmett Hanger, an Augusta County Republican and chair of Senate agriculture, declined to speculate how his committee would vote Thursday. He suggested pro-mining senators would work to keep the issue alive; if not in this session, then in 2014.

"There is a lot of push to lift the moratorium and some want to move the ball forward a bit," he said. "I'm not sure we're going to do that or not, quite frankly."

The proposal has been the subject of a raft of studies, including one by a National Academy of Sciences panel. It concluded the state would be challenged to create regulations to ensure safe mining and milling.

Cale Jaffe, director of the Virginia office of the Southern Environmental Law Center, said the study made a convincing case against mining, which he predicted would fail in the full Senate if it got that far.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs