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« Failed [U.S. nuclear] gamble leaves Toshiba investors irate: Shareholders wary as 'core businesses' falter, debt piles up | Main | U.S. taxpayers at risk of losing $8.3 billion if Vogtle 3 & 4 new reactor project defaults on its loan »
Wednesday
Mar292017

YOU WERE WARNED: 2/12 alert that #nuclear project woes put billions of taxpayer-backed loan guarantee $$s at risk

Thank you to Scott Stapf of the Hastings Group, for the tweet above, and link to the Feb. 2012 SACE press release, "Groups: Nearly $1 Billion Vogtle Nuclear Reactor Cost Overrun Echoes Earlier Warning About 'Boondoggle' Project."

The cost overruns, and schedule delays, have only mounted over the past five years. Thus, the risks to $8.3 billion in federal taxpayer-backed nuclear loan guarantees have only increased. This is 15 times the amount of money lost in the Solyndra solar loan guarantee default.

See Beyond Nuclear's Loan Guarantees and Construction Work In Progress (CWIP) website sections for more information, and extensive news coverage, on Toshiba subsidiary Westinghouse Nuclear's March 29, 2017 bankruptcy announcement, and its implicatations for: U.S. federal taxpayers; GA and SC ratepayers; and the four partially constructed, billions of dollars over budget (and skyrocketing), and years behind schedule (and likely about to worsen), Toshiba-Westinghouse AP1000 new atomic reactors.