No More Nuclear Loan Guarantees
In his State of the Union address, President Obama called for an America “built to last” and relying on clean energy. He spoke powerfully against oil subsidies that have propped up that industry for a century. Yet he has consistently supported federal loan guarantees for the nuclear industry. When he releases his budget February 13th, we will know whether he continues to support the program.
Nuclear power is dangerous and cannot survive economically without government subsidies. The Title XVII Loan Guarantee program uses taxpayer dollars to back risky loans for new nuclear reactors and requires little transparency. After the lessons we should have learned from the Fukushima catastrophe and the Solyndra loan guarantee debacle, there can be no justification for continuing nuclear loan guarantees. This is not the path to a clean energy future. It is time to end this program.