Developing nations reject "uranium fuel bank" pretext

I have long said that the conflict between the US and Iran over its nuclear program has nothing really to do with nuclear weapons, but is in fact part of a broader conflict between the developing and developed nations over the attempt by the latter to monopolize nuclear fuel production (albeit under the guise of preventing nuclear weapons proliferation.)  Developing nations have again turned down the US effort to monopolize nuclear fuel:

Obama-backed nuclear fuel bank plan stalls at IAEA
Thu Jun 18, 2009

By Sylvia Westall

VIENNA (Reuters) - A uranium fuel supply plan hailed by U.S. President Barack Obama as a way to stem the spread of nuclear arms stalled in talks at the U.N. atomic watchdog on Thursday after resistance from developing nations.

The International Atomic Energy Agency and industrialized nations argue that a multilateral uranium-enrichment center would best meet growing global nuclear energy demand while dissuading nations from building proliferation-prone enrichment plants themselves.

But emerging nations, who fear "multinationalizing" control over the fuel cycle would curb their right to home-grown atomic energy for electricity, rejected a request by IAEA chief Mohamed ElBaradei to develop a detailed plan for approval in September.

While developing states agreed to let talks go on, they warned others on the IAEA's 35-nation governing board against "attempts meant to discourage the pursuit of any peaceful nuclear technology on grounds of its alleged 'sensitivity'."

As the oil runs out, nuclear fuel will be the only real energy source of the future, and whoever controls the process of manufacturing/distributing nuclear fuel will enjoy immense strategic as well as economic benefits.

The media in the US of course steadfastly refuse to see this and instead follow along with the agenda set by the government, with the incessant and hyperbolic claims about "Iranian nukes", thus helping frame the issue as one of "non-proliferation" rather than monopolization.

(Meanwhile, Egypt -- which was caught conducting undeclared nuclear experiments that should have been reported to the IAEA -- has started building its nuclear infrastructure. Note the absence of speculation about how Egypt "intends to obtain the capacity" to build nukes.)