Obama budget doubles money for nuclear power plants 

President Obama's budget may be a bloated montrosity, but it's not all bad. According to the Washington Post:

The Energy Department would get the ability to guarantee an additional $36 billion in loans for the construction of new nuclear plants under President Obama's budget request, twice as much as the previous loan guarantee program. The loan guarantees would sharply reduce the financing cost of capital-intensive nuclear plants, and proponents hope it would help jump start an additional half-dozen nuclear power plants.

Of course, the same budget also eliminates funding for the Yucca Mountain repository for nuclear waste in Nevada, so the budget is not entirely favorable toward nuclear power. However, this budget item is darn near the only sign so far that Obama's administration has any clue how to meet America's future energy needs, as opposed to buying into the wishful fictions of environmentalists.

About The Author

Mark Hemingway

Pin It

More by Mark Hemingway

Latest in Nation

© 2019 The San Francisco Examiner

Website powered by Foundation