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No more nuclear loan guarantees
September 25, 2012
PSR’s Safe Energy program feels that loan guarantees for nuclear energy is a boondoggle. Nuclear power is a dangerous source of energy that is too expensive! In a cover for big energy subsidies, the 2005 Energy bill provided loan guarantees for “new technology” supposedly to address climate change but the vast majority of the money went to nuclear and coal.
Given the bankruptcy of Solyndra, the House passed a bill entitled, “No More Solyndras” but PSR opposed this bill because it leaves a giant loophole worth $31.5 billion mostly for dirty energy projects like new nuclear reactors and “clean coal.” PSR worked in coalition to add an amendment to stop the program completely but this was rejected. Instead the No More Solyndra’s bill as passed closes the program to new companies but leaves the riskiest ones with their hands out.
The bill’s supporters claim that this will protect taxpayer dollars from being invested in risky energy projects but PSR member are smarter than that. Find out how your congressperson voted here. When you ask your elected officials about their positions before the election, be sure to ask them this question:
Do you favor or oppose billions of taxpayer dollars for existing or new loan guarantees for new nuclear reactors or coal-burning power plants?
If you receive an answer let our DC office know! It is important to know where our elected officials stand. Letters to the Editor and guest Op Eds asking this same question and educating the public are useful as well. Contact us if you need additional information.