A loan bubble that could go nuclear - Opinion - Orange County Register - 0 views
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"After his State of the Union address, we expected environmental groups to protest President Barack Obama's declaration to advance nuclear power. We're pleased the outrage already spans the political spectrum, with many stops in between. Add us to the complainers. The new federal budget proposes to triple loan guarantees for new nuclear power plants, from $18.5 billion to $54 billion. This worsens a bad situation. As usual in Washington, it also relies on taxpayers to pay for the grief. Article Tab : In this Jan. 20, 2010 file photo, Energy Secretary Steven Chu addresses the U.S. Conference of Mayors winter meeting in Washington. In an effort to win over Republicans and moderate Democrats on climate and energy legislation, President Barack Obama is endorsing nuclear energy like never before, calling for a new generation of nuclear power plants to be built around the country. Mr. Obama's nuclear power push irritates environmentalists, to whom all things nuclear are nonstarters. But the president proposed this payoff to the nuclear lobby to win GOP support for his horrendous energy bill, stalled in Congress. The greenhouse-gas limiting legislation was bad enough already with the crippling economic consequences of its carbon cap-and-trade regulations. Mr. Obama's commitment would pile on even more federal interference and potential costs. Some critics rightly describe the scheme as another potential multibillion dollar f"