French "nuclear miracle" plagued by fast-rising reactor costs and "crowding out" of renewables

A new study by Dr. Mark Cooper of Vermont Law School, released today, warns "it is highly unlikely that the problems of the nuclear industry will be solved by an infusion of federal loan guarantees and other subsidies to get the first plants in a new building cycle completed. U.S. policymakers should resist efforts to force the government into making large loans on terms that put taxpayers at risk in order to ‘save' a project or an industry that may not be salvageable." The press release contains a link to the executive summary and the full report. Steven Thomas of Greenwich University in London, expert on Electricite de France and Areva economic woes, joined Dr. Cooper for the press conference, a full audio recording of which can be found at www.nuclearbailout.org after 6 p.m. today.

"Alms for the Rich and Powerful"

A New York Times editorial has blasted the latest end run around campaign finance regulations, being carried out by Members of Congress and their friends in industry. It involves unlimited giving by companies to charities set up by U.S. Representatives and Senators, who then return the favor by supporting those companies' legislative agendas. The editorial cited the example of James Clyburn, the third most powerful Democrat in the House, stating: "...consider the dozen or so nuclear energy companies that were suddenly interested in financing scholarships for needy South Carolina students once Representative James Clyburn set up a charity to do so. The foundation holds an annual golf tournament and dinner at which corporate givers can hang around Mr. Clyburn, the Democratic whip, and donate to his favorite charity. Nuclear companies said openly they were happy to reward Mr. Clyburn for his support of their industry." These nuclear companies include: Fluor Daniel, Savannah River Remediation, Nuclear Innovation North America LLC, Nuclear Energy Institute, Shaw Areva Mox Services LLC, Duke Energy, Progress Energy, and SCANA. Several of those very companies are the same ones whose lobbyists are working the "halls of power" to secure nuclear loan guarantees and other subsidies worth tens or even hundreds of billions of dollars -- at taxpayer risk and expense -- for new reactors and other atomic facilities in the U.S.