Monday, February 1, 2010

Obama's nuclear loan guarantees draw broad opposition

fyi

Among those concerned is Ellen Vancko, nuclear energy and climate change project manager at the Union of Concerned Scientists. In a statement posted on its website, she says:
Both the Congressional Budget Office (2003) and the Government Accountability Office (2008) have estimated that the risk of default for new nuclear reactors could be as high as 50 percent based on the industry's history of cost overruns and plant cancellations. In 2007, six of Wall Street's largest investment banks told the Department of Energy that they were unwilling to accept any financial risk for nuclear power loans.

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Of 26 new nuclear reactor license applications submitted to the Nuclear Regulatory Commission since 2007, nine have been canceled or suspended indefinitely in the last 10 months. Ten more have been delayed by one to five years. The Tennessee Valley Authority has canceled plans to revive a partially built unit.
Much of this chaos is because cost estimates for new reactors tripled while natural gas prices declined precipitously.

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1 comment:

Noel said...

I guess everyone deserves to have his/her voice heard. Pretty interesting.