Government to Back Loans for Nuclear Power
February 19, 2014 - 9:24 pm
Energy Secretary Ernest Moniz announced a multibillion-dollar loan guarantee Wednesday for building nuclear reactors in Georgia, underscoring the White House’s plan for an “all of the above” energy strategy.
The two reactors will be the first built in this country in nearly three decades.
President Obama “sees nuclear energy as a part of his carbon-free portfolio” that also includes renewable energy sources, Moniz said during a speech at the National Press Club in Washington. “We are working across the board to push the technology forward into the marketplace for all of our energy sources.”
Moniz said he would finalize the loans on Thursday during a trip to Georgia.
The announcement brought quick criticism from some environmentalists.
While it is comforting to see U.S. energy policy being dragged into the late 20th century, this is the kind of thing that makes me wonder what kind of back room awfulness may have gone on to bring this about. Yes, there has been some lip service and this was promised back in 2010 but we know where this administration’s heart is when it comes to renewable energy. Thus far, that hasn’t been anything proven and profitable.
For now, let’s hope this isn’t a passing fancy.