(2007-08-01) Nuclear Loan Guarantees

A one-sentence provision buried in an Energy Bill recently passed by the US Senate could make builders of new nuclear plants (Nuclear Energy) in America eligible for tens of billions of dollars in government Loan Guarantee-s. Lobbyist-s recently told lawmakers and officials in the Bush administration that the nuclear industry needs as much as $50 billion in loan guarantees over the next two years to finance a major expansion. The provision, inserted without debate at the urging of the nuclear power industry, has the potential to dramatically expand the U.S. nuclear industry, which plans to build 19 new power plants at an estimated cost of about $4 billion to $5 billion apiece. And while the nuclear industry would be the biggest beneficiary, the provision could also set the stage for billions of dollars in loan guarantees for power plants that use "CleanCoal" technology and renewable fuels (Renewable Energy).