Obama announces 8 billion in nuclear plant loan guarantees promising "this is only the beginning"

[Better Believe It]

Remember this from a year ago? BBI

Obama Nuclear Plant: President To Announce Loan Guarantee For More Than $8 Billion
By JULIE PACE
February 16, 2010

LANHAM, Md. — Promising "this is only the beginning," President Barack Obama announced more than $8 billion in federal loan guarantees Tuesday for the construction of the first nuclear power plant in the United States in nearly three decades.

"On an issue that affects our economy, our security, and the future of our planet, we can't continue to be mired in the same old stale debates between left and right, between environmentalists and entrepreneurs," Obama said in a stop at a job training center outside Washington. "Our competitors are racing to create jobs and command growing energy industries. And nuclear energy is no exception."

Obama's budget proposal for 2011 would add $36 billion in new federal loan guarantees to $18.5 billion already budgeted but not spent – for a total of $54.5 billion. The new $8.3 billion in federal loan guarantees will go toward the construction and operation of a pair of reactors in Burke County, Ga., by Southern Co.

The reactors, to be built by the Atlanta-based energy company near Waynesboro, Ga., are part of a White House plan the administration hopes will win Republican support at a time when the public is expressing a desire for lawmakers to work together to solve problems.

Read the full article at:

http://www.huffingtonpost.com/2010/02/16/obama-nuclear-plant-presi_n_463754.html

[Scurrilous]

1. SSDD

:thumbsdown:

[wtmusic]

2. Experience gained from Fukushima Daichi will be invaluable

and will allow designers to make nuke plants safer than they are already.

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Better Believe It]

7. And the public shall pay tens of billions for the construction of those plants and higher charges .

for power once they go online!

[Matariki]

18. You forgot the sarcasm tag.

seriously.

[Lint Head]

3. I am totally anti nuclear. Nothing is safe if the earth decides to swallow it.

[wtmusic]

12. "Nothing is safe if the earth decides to swallow it."

A lot of truth to that. Life evolved with very little contact with mined materials.

The problem is convincing everyone to turn off their air conditioning, computers, lights, and refrigerators. Because if we're going to use those things, to the extent we are right now, the underground stuff is necessary.

Which do you think is more dangerous to your health, per megawatt generated - nuclear power, or coal power?

[chaska]

5. Nuclear plants cost tremendously to build. WE pay for that....

But then they are very cheap to operate. So then the owners get to reap all the benefit. And then eventually WE get to deal with decommissioning it at the end of its all too brief lifespan, and "cleaning up" (like that's actually possible) the inevitable accompanying disasters.

Nuclear energy is actually an oxymoron. When non-nuclear energy inputs are considered for building/decommissioning they produce virtually no net energy.

[grahamhgreen]

6. Why are WE giving the loan guarantees? Because they are too risky for private industry!!!!

[Better Believe It]

8. They are "loans" that will never be paid back by the energy companies.

[wtmusic]

9. A loan guarantee is not a loan.

http://nuclearfissionary.com/2010/05/21/us-government-loan-guarantees-for-new-nuclear-construction/

[AlabamaLibrul]

11. No but it does point out that no private company will insure a nuclear plant n/t

[wtmusic]

13. Loan guarantees also have nothing to do with insurance.

Facts suck. :(

[AlabamaLibrul]

15. Loan guarantees are insurance on a loan (for a nuke plant). I did take a finance course, once... n/t

[grahamhgreen]

16. +1

[wtmusic]

17. Correction - loan guarantees have nothing to do with liability insurance.

Now a correction for you - every nuke plant in this country has liability insurance, and in the nation's worst nuclear accident - Three Mile Island - the utility was completely covered under its own insurance.

[grahamhgreen]

20. The insurer is we the people, not private. A loan guarantee is insurance.

[bobbolink]

10. Hmmm, and 8.9 BILLION is what they want to cut for low-income housing.

Fair trade?

[Autumn]

14. Not even close to a fair trade

more like a double rip off.

[bobbolink]

19. Thanks, Autumn! I really appreciate your view of things.

Your supportive words mean a lot!

:pals:

[fascisthunter]

21. insane

[LAGC]

22. Obama has made some very poor choices...

Namely with his cabinet and the corporatists he surrounds himself with for "advice."

However, this isn't one of them. Way to go Mr. President! Wean us off of fossil fuels!

May nuclear power be the bridge we need to transition to alternative/renewable energy sources... once they become cost-effective to implement on economies of scale.

In the meantime, WE NEED MORE POWER! Let's not go back to the days of rolling brown-outs like California experienced not too long ago...

[Better Believe It]

23. Tons of nuclear waste and clean non-dirty coal! Way to go!

We can dump the thousands of tons of safe radioactive nuclear waste on Capital Hill and/or in the Mississippi River.

Flush the waste it right down into the Gulf of Mexico.

The fish will triple in size and birds will just love the extra wings they will grow!