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WASHINGTON – President Barack Obama next week will announce a loan guarantee to build the first nuclear power plant in the United States in almost three decades, an administration official said Friday.
The two new Southern Co. reactors to be built in Burke, Ga., are part of a White House energy plan administration officials hope will draw Republican support. Obama's direct involvement in announcing the award underscores the political weight the White House is putting behind its effort to use nuclear power and alternative energy sources to lessen American dependence on foreign oil and reduce the use of other fossil fuels blamed for global warming.
Loan guarantees for other sites are expected to be announced in the coming months, the official said, speaking on the condition of anonymity because the decision had not yet been made public. The federal guarantees are seen as essential for construction of any new reactor because of the huge expense involved. Critics call the guarantees a form of subsidy and say taxpayers will assume a huge risk, given the industry's record of cost overruns and loan defaults.
Even with next week's announcement, actual construction of the first reactor is still years away. The Southern Co. has applied to the Nuclear Regulatory Commission for a construction and operating license for the plant, one of 13 such applications the agency is considering. NRC spokesman Eliot Brenner said the earliest any of those could be approved would be late 2011 or early 2012.
Obama called for "a new generation of safe, clean nuclear power plants" in his Jan. 27 State of the Union speech, and followed that by proposing to triple loan guarantees for new nuclear plants. Obama's budget for the coming year would add $36 billion in new federal loan guarantees on top of $18.5 billion already budgeted — but not spent — for a total of $54.5 billion. That's enough to help build six or seven new nuclear plants, which can cost $8 billion to $10 billion each.
Environmentalists, who once saw Obama as a friend of renewable energy, have said they feel betrayed by his shift. They said renewable energy such as wind and solar are more cost-effective than nuclear power and do not come with side effects such as radioactive waste.
I think it is a good idea, we have been a little behind the times on this issue for awhile.
AP source: Obama to announce nuke plant loan - Yahoo! News
WASHINGTON President Barack Obama next week will announce a loan guarantee to build the first nuclear power plant in the United States in almost three decades, an administration official said Friday.
The two new Southern Co. reactors to be built in Burke, Ga., are part of a White House energy plan administration officials hope will draw Republican support. Obama's direct involvement in announcing the award underscores the political weight the White House is putting behind its effort to use nuclear power and alternative energy sources to lessen American dependence on foreign oil and reduce the use of other fossil fuels blamed for global warming.
Loan guarantees for other sites are expected to be announced in the coming months, the official said, speaking on the condition of anonymity because the decision had not yet been made public. The federal guarantees are seen as essential for construction of any new reactor because of the huge expense involved. Critics call the guarantees a form of subsidy and say taxpayers will assume a huge risk, given the industry's record of cost overruns and loan defaults.
Even with next week's announcement, actual construction of the first reactor is still years away. The Southern Co. has applied to the Nuclear Regulatory Commission for a construction and operating license for the plant, one of 13 such applications the agency is considering. NRC spokesman Eliot Brenner said the earliest any of those could be approved would be late 2011 or early 2012.
Obama called for "a new generation of safe, clean nuclear power plants" in his Jan. 27 State of the Union speech, and followed that by proposing to triple loan guarantees for new nuclear plants. Obama's budget for the coming year would add $36 billion in new federal loan guarantees on top of $18.5 billion already budgeted but not spent for a total of $54.5 billion. That's enough to help build six or seven new nuclear plants, which can cost $8 billion to $10 billion each.
Environmentalists, who once saw Obama as a friend of renewable energy, have said they feel betrayed by his shift. They said renewable energy such as wind and solar are more cost-effective than nuclear power and do not come with side effects such as radioactive waste.
Change indeed, doing something no President has done since Reagan.
Thoughts USMB?
I think it is a good idea, we have been a little behind the times on this issue for awhile.
Though many of the wingnuts will hate to admit it, France does a great job concerning Nuclear Energy. They have 59 Nuclear Power Plants which between them power 78% of France.
They also have the lowest electricity cost in Europe.
I heard a news story a few weeks ago about all this, Japan I believe is building the most right now . We should have already been building them.
Ame®icano;2003858 said:What happened to "green energy" promise?
He said he was going to go for nukes in his SOTU speech . . . I really thought it was more blather. Excellent that in this instance his actions and his words are in sync. I hope they follow France's example of recycling the spent fuel and their storage solutions. Point for Barry.
Ame®icano;2003858 said:What happened to "green energy" promise?
And here's wingnut #1 trying to find something wrong with this.
Ame®icano;2003893 said:Have I said something is wrong with this? No. And you calling ME a wingnut.
If you red my old posts you would find I am for nuclear energy all along.
Now, seems that nuclear energy suddenly comes as Obama's solution for failing to produce green energy and green jobs. Therefore, my question is still, what happened with "green energy"? Not so popular anymore?
yea Frank , fuck the regulations who needs them Chernobol and Three mile Island were flukes, Hell why don't we have Caribou Barbie head up the New Nuclear Commission, you know who needs some one running things that's understands these things , you betcha
If he can get this done it will be the first thing he does right. I have been a supporter of Nuclear energy for a long time.
AP source: Obama to announce nuke plant loan - Yahoo! News
WASHINGTON President Barack Obama next week will announce a loan guarantee to build the first nuclear power plant in the United States in almost three decades, an administration official said Friday.
The two new Southern Co. reactors to be built in Burke, Ga., are part of a White House energy plan administration officials hope will draw Republican support. Obama's direct involvement in announcing the award underscores the political weight the White House is putting behind its effort to use nuclear power and alternative energy sources to lessen American dependence on foreign oil and reduce the use of other fossil fuels blamed for global warming.
Loan guarantees for other sites are expected to be announced in the coming months, the official said, speaking on the condition of anonymity because the decision had not yet been made public. The federal guarantees are seen as essential for construction of any new reactor because of the huge expense involved. Critics call the guarantees a form of subsidy and say taxpayers will assume a huge risk, given the industry's record of cost overruns and loan defaults.
Even with next week's announcement, actual construction of the first reactor is still years away. The Southern Co. has applied to the Nuclear Regulatory Commission for a construction and operating license for the plant, one of 13 such applications the agency is considering. NRC spokesman Eliot Brenner said the earliest any of those could be approved would be late 2011 or early 2012.
Obama called for "a new generation of safe, clean nuclear power plants" in his Jan. 27 State of the Union speech, and followed that by proposing to triple loan guarantees for new nuclear plants. Obama's budget for the coming year would add $36 billion in new federal loan guarantees on top of $18.5 billion already budgeted but not spent for a total of $54.5 billion. That's enough to help build six or seven new nuclear plants, which can cost $8 billion to $10 billion each.
Environmentalists, who once saw Obama as a friend of renewable energy, have said they feel betrayed by his shift. They said renewable energy such as wind and solar are more cost-effective than nuclear power and do not come with side effects such as radioactive waste.
Change indeed, doing something no President has done since Reagan.
Thoughts USMB?
