Will the Nuclear Industry Hitch an Expensive Ride on Obama?

Is it true that the nuclear industry is lobbying hard for money in the wave of Obama's push for cleaner energy? You bet your reactor donuts, Homer.

The American nuclear industry and its friends in Congress are basically doing everything they can to take over Obama's green economy plans. The details? 100 new reactors over the next 20 years. Get some coffee, that's going to mean a lot of donuts for an army of Homer Simpsons.

In fact, Republicans in the House of Represntatives wrote their own version of a climate change bill this week, one that mentions climate change only once, but does a lot to lessen restrictions on the nuclear industry- I mean, is that really the answer? LESS restrictions on nuclear power and nuclear waste disposal? That makes nuclear power start to look more and more like the oil industry, and makes me think of nuclear waste seeping into ponds near schools, glowing three-eyed fish and a whole lot of "it wasn't our responsibility" talk from people in really nice suits.

Not that I think nuclear power is evil, but the idea that it should be the cornerstone of the new green economy is a bit of a stretch- ok, it's a mushroom cloud of hope. Even John McCain is in on all of this- he and other Republican leaders apparently called for $38 Billion in loan guarantees to build new reactors, nearly double what currently exists. Other Republican leaders are pushing for that number to go up to $100 Billion.

"If you care about climate change ... 100 new nuclear power plants is the place to start," said Lamar Alexander, a Tennessee Republican.

Another crucial element of the Republicans' "nuclear renaissance" are two rival proposals for a "clean energy bank" now before Congress. One version, under consideration by the Senate, envisages almost unlimited federal loan guarantees to encourage wind and solar power and, nuclear proponents hope, new reactors.

Does anyone else think that the nuclear industry is just looking for free money to build new businesses? Apparently there are a few other concerned scientists out there:

"The nuclear industry would like to be able to finance the next generation of nuclear reactors using the faith and credit of the US taxpayer to underwrite the expansion. They don't want to be responsible for any risk of financing these plants and neither do their lenders." said Ellen Vancko of the Union of Concerned Scientists.

IT HAS BEEN 30 YEARS SINCE THE LAST REACTOR WAS ORDERED TO BE BUILT IN THE U.S.!

Why not? One big reason is the money. Where are you going to get $5-$20Billion for a new nuclear plant? I mean, it's not like there is just a bunch of money laying around that people are trying to spend on new power plants....

Wait, Obama's new energy plan- there's a lot of money in there, and why shouldn't nuclear power be part of the clean energy future of America? It's clean, right? No fossil fuels, for sure. And it's far more advanced than the Chernobyl era nuclear plants, right?

Well, yes and no. There are several problems: 1. Waste. 2. Money 3. The President.

There is still no answer to the question of how to permanently store nuclear waste. And I don't think anyone is working incredibly hard on that one. Except maybe the nuclear companies. Beyond that, it just costs A LOT to build one nuclear reactor plant. And, Obama has been largely a problem for the nuclear industry. His administration has blocked a 22 year project that planned to dump reactors in Yucca Mountain, Nevada.

John Rowe, the Exelon chairman (Exelon currently operates 17 nuclear reactors) said that he would delay or cancel construction on new reactors in Texas if there are no guarantees on federal loans.

So it appears that the buck stops with the free money. So it becomes the job of Congressional Republicans to push through some free money for nuclear power on the flimsy premise that it will help battle climate change that the GOP doesn't seem to really endorse as all that man-made or real anyway...

So the fate of the so-called nuclear renaissance hangs in the balance of the negotiations happening on Capitol Hill. Grab a donut, sit back and watch the many-eyed show.