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Core aim of U.S. Climate Bill is to promote nuclear energy

Nuclear Energy Has a Friend in Heads of Obama’s BP Oil Disaster Commission,  by kgosztola May 25, 2010“……..Public Citizen reports the current climate legislation is a “nuclear energy-promoting, oil drilling-championing, coal mining-boosting” piece of legislation “with a weak carbon pricing mechanism thrown in.” The public interest groups warns against the nuclear power incentives currently in the climate change bill:
At its core, this legislation is all about promoting nuclear power and handing taxpayers the bill. Consider:

– Sections 1101 and 1105 would prioritize the needs of nuclear power corporations over the rights of citizens to have full, public hearings about the risks and dangers of locating nuclear power plants in their communities.

– Section 1102 increases loan guarantees primarily for nuclear power to a jaw-dropping $54 billion. These loans are a terrible deal for the taxpayer, especially considering the high risk of default that even the government acknowledges.

– Section 1103 provides $6 billion in taxpayer-subsidized risk insurance for 12 new nuclear reactors.

– Section 1121 allows nuclear power plant owners to write off their depreciation much faster. Section 1121 provides a 10 percent investment tax credit for new reactors.

– Section 1123 extends the Advanced Energy Project credit to nuclear reactors.

– Section 1124-6 allows municipal power agencies to derive certain tax, bond and grant benefits from investing in nuclear power.

Nuclear Energy Has a Friend in Heads of Obama’s BP Oil Disaster Commission « Moving Train Media

May 26, 2010 - Posted by Christina Macpherson | climate change, USA | antinuclear, climate change, global warming, nuclear, nuclear renaissance, nuclear spin, nuclear technology, radioactive, reactors, uranium