An Ol' Broad's Ramblings
President Barack Obama today will announce the loan guarantees for the construction and operation of two new nuclear reactors in Georgia, the first new nuclear power plant to break ground in the United States for nearly three decades.
An administration official said late Monday that the loan guarantees will apply to work at the Southern Co. plant in Burke, where Georgia Power is planning the new reactors at its Plant Vogtle facility.Southern Co. estimates the project will create 3,000 onsite construction jobs and about 850 permanent positions.
That’s nice. I’m glad there will be some work for the folks down there in Georgia. But I have a question: Since when does the POTUS, any POTUS, have the right to guarantee loans?
The Obama administration is pushing for utilities to build more nuclear power plants as part of a nationwide effort to curb greenhouse gas emissions. The president mentioned nuclear power and clean coal, along with renewable energy sources such as wind and solar, in his State of the Union address.
Since it seems that debunking the flawed science isn’t having an effect on Obama’s policies, I’ll just add that a good deal of those “green” energy sources appear to be a major flop. Make you wonder if this is the future for Milwaukee, Wisconsin.
To fund the project, they will pay 9 percent more on their electric bills. That increase will be phased in over seven years, starting in 2011. It will last the life of the plant, but is expected to gradually decline over that time, the company said.
My question here is, if Obama is guaranteeing these loans (his own money?), loans I’m guessing are for the purpose of building these plants, why are the rates for consumers going up? 9% is a pretty good chunk of change if you are just scraping by. Don’t get me wrong, I’m all for nuclear power plants. I do have a major problem when the federal government gets involved. Yes, safety is an issue, but we’ve got these regulating bodies telling companies, you can’t do this, you can’t do that, ya can’t built here cuz there is an annoying mosquito that lives in the area, or something to that affect. Give me a break!
For its part, Georgia Power suffered from huge cost overruns when it built the first two nuclear plants at Vogtle in the late 1980s. The original estimate was $975 million for four reactors. The final price tag was $9 billion for two reactors.
How much ya wanna bet the major cost overruns were, in part, due to oppressive regulations? Were unions involved? Just wondering.
Seriously, if we are to ever become energy independent, see our economy bounce back, and have some chance at a future, the federal government needs to get the hell out of the way. Private industry ALWAYS works better than the government, at EVERYTHING! Get rid of the unions, start producing real products, and watch the jobs come back!