Obama Administration to Provide Loan Guarantees For Nuclear Power
The AP is reporting that the Obama Administration is set to announce that it will provide loan guarantees for new American nuclear power plants.
The Obama administration’s planned loan guarantee to build the first nuclear power plant in the U.S in almost three decades is part of a broad shift in energy strategy to lessen dependence on foreign oil and reduce the use of other fossil fuels blamed for global warming.
President Barack Obama called for “a new generation of safe, clean nuclear power plants” in his Jan. 27 State of the Union speech and followed that by proposing to triple loan guarantees for new nuclear plants. He wants to use nuclear power and other alternative sources of energy in his effort to shift energy policy.
Obama in the coming week will announce the loan guarantee to build the nuclear power plant, an administration official said Friday. The two new Southern Co. reactors to be built in Burke, Ga., are part of a White House energy plan that administration officials hope will draw Republican support.
I am definitely all for this. Nuclear power is a much safer, cleaner source of energy than coal. This is long overdue.
h/t Dodd Harris
Image Credit: Sarah Elzas