In the January/February issue of Mother Jones magazine Mariah Blake writes that New Mexico’s Senator Bingaman aided by Lisa Murkowski (R, Alaska) has introduced legislation likely to be included in the coming climate bill that would create a Clean Energy Development Agency (CEDA) within DOE with authority to extend a ‘virtually unlimited number of loan guarantees—without congressional review—to utilities to build nuclear plants.’ Blake goes on to say that both Bingaman and Mirkowski are ‘top recipients of the nuclear industry’s campaign largesse.’ Interested utilities would have to pay an unspecified fee to get a loan guarantee but, if the historical default rate from the 1st generation of US nuclear power folly is a guide, these fees will not come close to covering defaults. Blake continues: “According to the Union of Concerned Scientists, if 100 new plants are built, as key Republican lawmakers have called for, the price of bad loans could total at least $360 billion—and that’s assuming zero cost overruns.”
So if fellow New Mexicans do not want MORE federal subsidies wasted in nuclear power plant construction they should send a ‘boo and hiss’ email to Senator Bingaman. I had not realized how completely Jeff had donned the pro-nuke mantle of Pete Domenici—and I deplore it!