The Obama administration will press ahead with efforts to expand loan guarantees for new nuclear reactors while investigating the failure of Japan’s power plants after an earthquake, Energy Secretary Steven Chu said.Un-dirtyword-believable.
The U.S. Energy Department is seeking to add $36 billion in loan-guarantee authority to the program’s existing $18.5 billion, Chu said today at a House Energy and Commerce Committee panel hearing. President Barack Obama asked lawmakers to expand the program in his February budget request.
An earthquake and tsunami in Japan on March 11 crippled Tokyo Electric Power Co.’s Fukushima Daiichi nuclear plant with explosions, fires and radiation leaks. As Japan tries to avert a meltdown at the plant, Obama and his energy advisers have said U.S. nuclear reactors are safe.
These guys never miss a chance to miss a chance.
Don't forget -- the borrowers will pull a Lehman Brothers/AIG and force the feds to create "Nuclear TARP" !
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