Energy Sec Unaware That Nuclear Loans Have 50 Percent Risk of Default

Chu said he was not aware of a Congressional Budget Office study showing that the chances of default on these loans are "very high—well above 50 percent."

"I don't know of the CBO report," Chu told reporters during a conference call on Tuesday. "We don't believe the chance of default is 50 percent. We believe it's far less than that." The first loan guarantee, worth $8.33 billion, was awarded to two proposed reactors to be built by Southern ... Full Story »

Posted by Dwight Rousu
Tags Help
Member Tags: Chu
Editorial Help
Posted by: Posted by Dwight Rousu - Feb 16, 2010 - 12:53 PM PST
Content Type: Article
Edit Lock: This story can be edited
Edited by: Dwight Rousu - Feb 16, 2010 - 12:55 PM PST
Jim Lang
2.3
by Jim Lang - Feb. 21, 2010

This is a negative article eventually forced to print a DOE rebuttal.

This has the same credibility as articles that claim that there are no issues with nuclear power.

See Full Review » (11 answers)
Dwight Rousu
4.3
by Dwight Rousu - Feb. 17, 2010

Informed experts are quoted in reporting this astounding bit of economic ignorance on the part of Chu.

The Obama loan guarantee is another give-away to corporations as corporate campaign contributions explode. Privatizing profit and socializing risk with taxpayer money is bad policy when there are better energy options.

the economics of the nuclear industry look so dicey that Wall Street banks—no strangers to high-risk investments—have for several years balked at financing new plants ... More »

See Full Review » (14 answers)

Comments on this story Help (BETA)

NT Rating | My Rating

Ratings

3.3

Average
from 4 reviews (37% confidence)
Quality
3.3
Facts
4.2
Fairness
3.8
Sourcing
3.5
Style
3.2
Context
3.2
Depth
2.2
Enterprise
3.8
Relevance
4.5
Popularity
3.3
Recommendation
4.3
Credibility
3.8
# Reviews
2.0
# Views
5.0
# Likes
1.0
# Emails
1.0
More
How our ratings work »
(See these related stories.)

Links Help

  • President To Announce Loan Guarantee For More Than $8 Billion

    Promising "this is only the beginning," President Barack Obama on Tuesday announced more than $8 billion in federal loan guarantees for the construction of the first nuclear ...
    Posted by Dwight Rousu
  • Obama announces $8.3 billion program for two new nuclear plants

    In an effort to embrace a keystone of Republican energy proposals, President Barack Obama announced Tuesday that his administration will make available $8.3 billion in loan ...
    Posted by Derek Hawkins