Nuclear Loans Guaranteed

  • If all goes according to plan, the nuclear reactors will go up in six to seven years and cost around 14 billion dollars. (Photo courtesy of the National Renewable Energy Laboratory)

The Obama Administration
announced that it will back
the cost of constructing two
new nuclear reactors. Mark
Brush reports, if they’re
constructed, they’ll be the
first reactors built in the
country in nearly three decades:

Transcript

The Obama Administration
announced that it will back
the cost of constructing two
new nuclear reactors. Mark
Brush reports, if they’re
constructed, they’ll be the
first reactors built in the
country in nearly three decades:

The Southern Company plans to build the reactors in Georgia. They say, if all goes well, they’ll go up in six to seven years and cost around 14 billion dollars.


Investors have seen nuclear energy as a risky bet. But now that the President says the government will guarantee the loans, Wall Street might be enticed back to nuclear energy.

And then there’s the question of safety. President Obama’s Energy Secretary is Steven Chu. He says these new generation reactors are safe.

“We expect that the newer generation reactors will be ideally completely passively safe. Which means that, uh, you don’t actually need to control the reactor. If you lose control of it, it will not melt down.”

Some environmentalists say nuclear energy is not worth the costs – and there’s still no permanent place to store nuclear waste that’s radioactive for thousands of years.

For The Environment Report, I’m Mark Brush.

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