U.S. to Press Ahead With Expanding Loan Guarantees for Reactors, Chu Says

[Purveyor]

Source: Bloomberg

By Simon Lomax

March 16 (Bloomberg) -- The Obama administration will press ahead with efforts to expand loan guarantees for new nuclear reactors while investigating the failure of Japan’s power plants after an earthquake, Energy Secretary Steven Chu said.

The U.S. Energy Department is seeking to add $36 billion in loan-guarantee authority to the program’s existing $18.5 billion, Chu said today at a House Energy and Commerce Committee panel hearing. President Barack Obama asked lawmakers to expand the program in his February budget request.

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U.S. nuclear plants are subject to “constant monitoring and oversight,” Obama said in an interview yesterday with Albuquerque, New Mexico, television station KOAT.

Obama supports an expansion of nuclear power and increased loan guarantees, and “that position has not been changed,” Chu said.

Read more: http://noir.bloomberg.com/apps/news?pid=20601087&sid=au...

[villager]

1. "We're constantly seeking new ways to betray the trust of those who voted for us,"

Chu asserted this morning, in Washington hearings.

[truthisfreedom]

2. Insanity: doing the same thing over and over again and expecting different results.

Einstein said that. He'd turn over in his grave if he watched the news today.

[AnOhioan]

3. wow...seriously stupid decision

[lovuian]

4. are they freakin nuts

Chu has confirmed he is a IDIOT

[JJW]

5. JP Morgan & Goldman Sachs

will finance the deals and be guaranteed a profit no matter what happens by US tax payers. Just another form of a major bailout to Obama's sponsors. The revolving door of corruption.

[ElsewheresDaughter]

6. NO Fuking WAY!

[neoralme]

7. Absolutely disgusting.

[madrchsod]

8. the us tax payers pick up the cost of insurance

[marions ghost]

9. not reassuring

Obama doesn't get it. Chu seems like a robot.

If the worst case scenario occurs in Japan, they'll still be trying to sell us their nuke expansion program.

We'll be expected to just forget about the human cost of this so-called "clean energy"--the biggest lie ever perpetrated.