Produced by "Earth Healing"?
Nice ad hominem!
"The federal guarantees, authorized by Congress in 2005, are seen as essential for construction of any new reactor because of the huge expense involved."
Obama Nuclear Plant: President To Announce Loan Guarantee For More Than $8 Billion
"DOE has started a series of programs to provide incentives to new nuclear generators,
including the Nuclear Power 2010 (NP2010) Program. This program envisioned having a new
nuclear plant operating in the United States by 2010: “The conclusions and recommendations
provide important information for all decision-makers involved in the goal of operating a new
nuclear plant by 2010” (Crosbie and Kidwell 2004, iv). Several feasibility studies were funded,
including one for the construction of two units at the South Texas Project. However, few plants
were ordered until the passage of EPAct05, which recognized that a major obstacle to nuclear
plant orders was access to capital. The most important provision of EPAct05 was the Loan
Guarantee Program, which was intended to reimburse investors for the potential loss of their
capital and interest in constructing nuclear power plants. But no funds were allocated for this
program until later appropriations bills."
"EPAct05 Title XVII states that advanced nuclear plants are eligible for loan guarantees
(although it did not specify an amount). This has particular significance for the nuclear industry
because of the 1970s default of $2.25 billion of municipal debt by the Washington Public Power
Supply System for the construction of nuclear power plants in Washington State—at that time
the largest municipal bond default in U.S. history."
http://nepinstitute.org/get/RFF_Reports/Background-Papers/RFF-NEPI-Rothwell-Nuclear.pdf