nuclear-news

Why the US nuclear industry is eager to save this obscure, government-run bank The US nuclear industry has looked abroad for business as demand in the US has fallen. But without the Export-Import Bank’s backing, some say it would be harder for US companies to seal nuclear deals abroad.
Christian Science Monitor, By Jared Gilmour, Staff writer JULY 2, 2015 WASHINGTON — Tucked away in an unassuming building two blocks from the White House is a government-run bank. It helps US companies sell products abroad,……..

But this year, Congress is poised to shut its doors. The Export-Import Bank of the United States has become target No. 1 for Republican lawmakers who want to shrink the federal government and combat what they characterize as “crony capitalism.” The bank’s charter expired Wednesday – meaning it’s unable to make new loans, but will continue servicing outstanding loans – and Congress won’t consider reauthorizing it for another couple weeks.

Until recently, the bank was relatively low-profile……the Export-Import Bank’s loans and loan guarantees are critical for another domestic industry that has fallen on hard times: US nuclear power. If the bank’s charter isn’t reauthorized, the industry and a host of other business interests say the effects could be devastating for US companies’ overseas prospects……..

Nuclear looks abroad For years, the US nuclear industry has struggled domestically. Cheap natural gas and coal have largely crowded the low-carbon power source out of the market. The recession also put a damper on demand for new US power generation. Safety concerns have made matters worse for US nuclear, and those worries flared up anew after Japan’s Fukushima disaster in 2011. http://www.csmonitor.com/Environment/Energy/2015/0702/Why-the-US-nuclear-industry-is-eager-to-save-this-obscure-government-run-bank