Posted on 02/16/2010 10:04:09 PM PST by neverdem
WASHINGTON — President Obama, speaking to an enthusiastic audience of union officials in Lanham, Md., on Tuesday, underscored his embrace of nuclear power as a clean energy source, announcing that the Energy Department had approved financial help for the construction of two nuclear reactors in Georgia.
If the project goes forward, the reactors would be the first begun in the United States since the 1970s.
The announcement of the loan guarantee — $8.3 billion to help the Southern Company and two partners build twin reactors in Burke County — comes as the administration is courting Republican support for its climate and energy policies. With climate legislation stalled in the Senate and its prospects for success dim, Democrats are seeking new incentives to spur clean energy development and create jobs.
At the same time, the president’s embrace of nuclear energy has drawn the ire of environmental groups that have long opposed any return to a reliance on nuclear power.
In his speech, Mr. Obama portrayed the decision as part of a broad strategy to increase employment and the generation of clean power. But he also made clear that the move was a bid to gain Republican support for a broader energy bill.
“Those who have long advocated for nuclear power — including many Republicans — have to recognize that we...”
--snip--
The money for the reactors is the first award from $18.5 billion in loan guarantees provided for under the 2005 act. But Mr. Obama proposed this month to triple that amount. The guarantees can cover up to 80 percent of the estimated project cost, although some builders may ask for less. Southern asked for 70 percent, but the project may also be eligible for loan guarantees from the Japanese government; the reactors were designed by Westinghouse, a unit of Toshiba...
(Excerpt) Read more at nytimes.com ...
I don’t understand why, if nuclear power is so profitable, that private companies need loan guarantees.
Just build the thing, if the enviro-nutsies will get out of the way.
They have a share in the PBMR in South Africa.
Obama ordered the closing of the Yucca Mountain Nuclear Waste Facility a week or so ago......so where will they put the nuclear waste?
Something doesn't quite add up here!
Permits cannot be obtained for at least two years. Can you say “political cover”.
They’ll start building, and then find out that to start up the reactor they need a place to dispose the waste off-site. And, the place to store the waste will never open, thus a fully functional nuclear plant will never open up.
Never mind the countless lawsuits that will happen, which will give Obama cover when the plant falls through.
Obama was against Nuclear Power before he was for it.
The Loan Guarantees were enacted by President Bush in 2005, but the Rats did everything they could do to prevent any plants from being built.
This is just another trick to get the Republicans on the Cap and Trade train.
I really hate Democrats...
Greenies want to tie up thousands of acres of land in various states for windmills and solar [anels which have huge foot prints) when we shoul;d be building nuclear. When Reid loses this November, OB can reopen Yucca Mountain like the coward he is and get on with the program.
You answered you own question. Look at Shoreham. 1 Billion and an insane level of litigation results in a billion dollar monument to ignorant greenies with power.
Westinghouse is owned by Toshiba. PB reactors should be a lot cheaper to make. Why they are using these old designsis beyond me. Somehow I expect GE (GE,NBC,MSNBC, UNiversal,CNBC) are in the background.
Maybe GE just makes the turbines. Many years ago in school we did a case study on a nuke power plant project in N GA on the Vogtle - same plant LOL! The case, I think, was higher interest rates were making the plant and financing go broke.
http://en.wikipedia.org/wiki/Vogtle_Electric_Generating_Plant
Not they use Westinghouse Pressure units and GE turbines as I suspected.
Note:
Each unit has a Westinghouse pressurized water reactor (PWR), with a General Electric turbine and electric generator. Units 1 and 2 were completed in 1987 and 1989, respectively. Each of Vogtle’s units is capable of producing approximately 1,200 MW of electricity when online, for a combined capacity of 2,400 MW. Southern Nuclear lists the capacity as 1,215 MW each, for a combined output of 2,430 MW.[1] The twin cooling towers are 548 ft (167 m) tall.
During Vogtle’s construction, costs skyrocketed from an estimated $660 million to $8.87 billion.[2][3] This was typical of the time due to increased regulations after the Three Mile Island accident.
In 2009, the NRC renewed the licenses for both units for an additional 20 years, to the 2040s.[4] Groundwork for two additional reactors is well underway[5]
Regulations drive costs up 12X!
This project needs to be backed by the government. Any private contractor even working as joint venture would never get insured for something with a catastrophic failure history and potential contamination of public health.
Don’t get me wrong, it’s a long overdue step in the right direction.
It’s some sort of shell game. barry wouldn’t do sh__ for the US unless he had some kind of scam going on the side.
Climategate: A Defiance of Arrogant Political Power by Ian Plimer, the Australian geologist
The Continuing Climate Meltdown (WSJ Ed: More embarrassments for the 'settled' science)
The Rise and Fall of Frank Church: A Lesson for Conservatives
Some noteworthy articles about politics, foreign or military affairs, IMHO, FReepmail me if you want on or off my list.
media and dems say otay when it’s a lefty planning a China Syndrome
“so where will they put the nuclear waste? “
With the Waste at 1600 Pennsylvania Ave.
Sorry, I couldn’t help it.
Victor Davis Hanson: The New, Upside-Down War on Terror
I won't be surprised if Obama doesn't run in 2012.
Reprocess it like France and Japan does.
maybe we could build a nuclear fuel reprocessing plant in Plains, GA using “eminent domain” to take over the Carter farm, since Demagogues love eminent domain and the peanut farmer is the guy who dealt the death blow to having any reprocessing facility in the USA, if I remember correctly.....
when I saw the headline I felt sure that this must refer to the “other Georgia” and that we were selling them the equipment
no way would the Demagogues allow any nuclear plant construction in the USA..... oh, wait, Obamanation is suddenly trying to pretend he is “moving toward the center” so he has to play politics
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