Energy Scientists: Nuclear Loan Increase is Bad Policy

Flickr/<a href="http://www.flickr.com/photos/mirindas/">mirindas27</a> (Creative Commons)

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


When President Obama voiced strong support for nuclear energy at his State of the Union address last week, both sides of the aisle jumped to their feet in applause. Nuclear subsidies have become a political necessity in Congress, despite the fact that nuclear energy is dirty, dangerous, and not really renewable. And due in large part to the nuclear industry’s lobbying strength in Washington, democrats have drawn criticism for favoring cleaner options like wind power in lieu of nuclear. Sen. Lamar Alexander of Tennessee, for one, criticized the president’s initial plan as “a national windmill policy instead of a national energy policy, which is the military equivalent of going to war in sailboats.”

Nuclear enthusiasts are no doubt pleased by the administration’s announcement today that it intends to triple the amount of nuclear loan guarantees for new nuclear plants to $54 billion. “It’s important to have a higher bar than what we have been working with, just $18.5 billion,” John Keeley, a spokesperson for the Nuclear Energy Institute, told me. “Put it in the context of where we need to go as a culture. You can’t get there with the volume the government has underwritten so far.”

USA Today‘s Green House blog reports today that a cohort of environmental groups, energy scientists, and small-government conservatives have mobilized to oppose nuke pushers like Alexander and Keeley. One letter to Obama, penned by taxpayer advocacy and nuclear non-proliferation groups, warns that “With hundreds of billions in bailouts already on the shoulders of U.S. taxpayers, the country cannot afford to move forward with a program that could easily become the black hole for hundreds of billions more.”

David Kreutzer, an energy economic and climate change analyst for the conservative Heritage Foundation wrote in a blog post for the National Journal that increasing the loan guarantees “is a bad idea for taxpayers, consumers and long-term industry competitiveness” because it would “stifle competition and technological development within the nuclear energy industry.”

And in a particularly damning blow to nuclear interests, Dr. Mark Cooper, an energy and environment economist at Vermont Law School wrote a report (pdf) last summer predicting that the cost of 100 new reactors could cost up to $4.1 trillion and that a combination of increased energy efficiency and cleaner renewable energy options would produce the same level of electricity.

So despite what you might hear in the halls of Congress or NEI headquarters, increasing federal loan guarantees for nuclear projects is dangerous environmentally, politically, and economically. But for the foreseeable future, the nuclear juggernaut seems poised to force it’s way through Congress with the full throated support of President Obama.

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate