Obama Commits To Nuclear Power

The no nukes movement of the past decades, has not dampened their continued re-arising.

Obama is committing to nuclear power.

It was known before the election that the candidate coming out of Ilinois was beholden to this industry.

Truthdig: Obama’s Nuclear Option by Amy Goodman

He announced the initial $8 billion in loan guarantees for construction of the first new nuclear power plants in the United States in close to three decades.

The cost to construct these behemoths is so huge, and the risks are so great, that no sensible investor, no banks, no hedge funds will invest in their construction.

No one will loan a power company the money to build a power plant, and the power companies refuse to spend their own money.

Lovins - “Nuclear power is continuing its decades-long collapse in the global marketplace because it’s grossly uncompetitive, unneeded, and obsolete—so hopelessly uneconomic that one needn’t debate whether it’s clean and safe; it weakens electric reliability and national security; and it worsens climate change compared with devoting the same money and time to more effective options.”