Senate backs 6 new nuclear plants : $16 billion in loan guarantees

SF Chronicle ^ | 6/11/03 | Zachary Coile

[ZGuy]

Washington -- The Senate took a major step toward reviving the nation's stagnant nuclear power industry on Tuesday by approving billions of dollars in subsidies to build new power plants to meet the country's growing electricity needs.

Critics said the proposal to provide up to $16 billion in loan guarantees to construct six new power plants was a giveaway to an industry that has had trouble attracting investors since a partial meltdown at Three Mile Island more than two decades ago prompted public fears over the safety of nuclear power.

[NormsRevenge]

The Senate took a major step toward reviving the nation's stagnant nuclear power industry...

GOOD!!! It's about damn time!

[prisoner6]

We should have a crash program underway to get these up ar running ASAP!

prisoner6

[gcruse]

Loan guarantee = subsidies

Only in the mind of the SF Chronicle,
and only for things it doesn't like.

[gcruse]

But its ok to back people who wont invest in themselves
 with the hard earned income of people on main street..

It worked for Lee Iacocca and Chrysler.

[hchutch]

And in this case, these plants cut back on the amount of oil we have to buy from OPEC.

We need a few more, but this is a good start.

[gcruse]

The biggest threat to a positive ROI on a nuclear plant is the government itself in the form of regulations. We'll be fine until democrats get back into power. Let's hope the loans have been paid back by then.

[DannyTN]

"But its ok to back people who wont invest in themselves with the hard earned income of people on main street.. "

You need the government support, since it was the regulatory environment that killed the projects last time. No investor is going to invest unless the government is seen to be backing it.

Plus, the people on main street elected those reps who voted for that. They are our representatives.

[biblewonk]

OHHHH NOOOO

[kevkrom]

We'll be fine until democrats get back into power. Let's hope the loans have been paid back by then.

Don't you mean "the sun has burned out and goven nova by then"?

[gcruse]

You're right. I started to say that, but couldn't remember how to spell 'goven.' ;)