Tuesday, February 16, 2010 2:23 PM
With Nuclear Loans, Obama Pushes Climate Bill
By Amy Harder, NationalJournal.com
In announcing the first nuclear loan guarantee today, President Obama called upon nuclear power supporters, including Republicans, to get on board with comprehensive climate change legislation.
But he fell short of explicitly endorsing a price on carbon or any type of cap-and-trade mechanism.
Speaking this morning at a clean-technology facility in Maryland, Obama said nuclear power advocates, including Republicans, "have to realize that we're not going to achieve a big boost in nuclear capacity unless we also create a system of incentives to make clean energy profitable." While Energy Secretary Steven Chu has been firm in his support of a price on carbon, Obama was only implicit today: "Energy leaders and experts recognize that as long as producing carbon pollution carries no cost, traditional plants that use fossil fuels will be more cost-effective than plants that use nuclear fuel."
As in past speeches, including his State of the Union address, Obama was careful to say "comprehensive energy and climate legislation," without mentioning a cap on greenhouse gas emissions. "My administration will be working to build on areas of agreement so that we can pass a bipartisan energy and climate bill through the Senate," Obama said.
The $8.3 billion conditional loan guarantee is being awarded to Southern Co. to build two new reactors in Burke, Ga. It is the first of at least a half-dozen loans the Energy Department will announce, Chu told reporters on a conference call this afternoon. He would not specify when the next announcement will be. This first loan will help create 3,500 temporary construction jobs and 800 permanent jobs, Chu said.
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