I just read something that made me livid. While we have multiple reactors melting down in Japan, Obama has decided to expand nuclear loan guarantees. The real kicker? I was just reading this article, from the fall, about how President Obama slashed renewable energy guarantee programs behind the scenes after praising them.
Now, instead of restoring his cuts, he is asking for 12 times as much money for nuclear boondoggles. Loans that the CBO reported that half of them are likely never to be paid back. So, bailing out the nuclear industry to the tune of over $20 billion dollars in non-recoverable bailouts while not proving basic support to clean energy programs that actually are likely to be paid back and support good, green jobs.
Read this from last year:
Obama Talks Big About Clean Energy While Cash Stripped From Key Program – ABC News.
“While President Obama has touted his deep commitment to a clean energy industry, the administration has quietly drained more than half of the $6 billion allocated to a key renewable energy program and senior White House officials have proposed either fixing or scrapping one of the President’s most widely heralded initiatives involving solar and wind power.”
Then this now:
Obama Seeks to Expand Loan Guarantees for Reactors, Chu Says – Businessweek.
“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.
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 committee hearing. President Barack Obama asked lawmakers to expand the program in Obama’s February budget request…
Obama supports an expansion of nuclear power and increased loan guarantees, and “that position has not been changed,” Chu said. Energy officials “don’t believe there is any danger” posed by U.S. reactors, Chu said today.”
Got it? President Obama cut renewable energy loan guarantees, a critical clean energy investment program, in half, – by $3 billion dollars while now seeking to expand Nuclear energy loan guarantee programs by $36 billion dollars. That is an increase of twelve times! over what he left for clean energy.
Angry yet? I thought so.
I expect to get some crap about how nuclear power is awesome in my inbox, but right now, I am not interested in hearing it. All I have to say is that I thought President Obama and Chu were being tone deaf and short sighted when they came out ahead of the Deepwater disaster endorsing offshore oil drilling. Now, they have stripped renewable energy guarantees and are working to increase nuclear power loan guarantees in the wake of the largest nuclear disaster in modern history. Are they just trying to piss us off and lose the next election? Because, they are doing a heckuva job.