nuclear-news

U.S. Energy Secretary does not understand nuclear power’s financial risk?

Chu said he was not aware of a Congressional Budget Office study showing that the chances of default on these loans are “very high—well above 50 percent.

Energy Sec Unaware That Nuclear Loans Have 50 Percent Risk of Default— Mother Jones By Kate Sheppard| Tue Feb. 16, 2010 The Obama administration on Tuesday announced a loan guarantee for thefirst new nuclear reactor to be built in the US in decades—part of a planned $54.5 billion program to kickstart a nuclear revival using government-backed loans.

Yet Chu said he was not aware of a Congressional Budget Office study showing that the chances of default on these loans are “very high—well above 50 percent.” “I don’t know of the CBO report,” Chu told reporters during a conference call on Tuesday

Energy Sec Unaware That Nuclear Loans Have 50 Percent Risk of Default | Mother Jones

February 17, 2010 - Posted by Christina Macpherson | politics, USA | cancer, nuclear, nuclear costs