loan guarantee announcement due tonight, page-3

Yes, very nice to wake up too. So far bloombergs sources are right on the money with there timing of announcements. The did tip this to happen.




I also like what Obama said in this announcement "this is only the beginning,"

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Obama touts nuclear power plant loan guarantee as just a start

This story was published Tuesday February 16th 2010

By Julie Pace, Associated Press Writer


LANHAM, Md. (AP) - 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 power in the United States in nearly three decades.

The president cast his move as both economically essential and politically attractive as he sought to put more charge into his broad energy agenda. Obama called for comprehensive energy legislation that assigns a cost to the carbon pollution of fossil fuels, giving utility companies more incentive to turn to cleaner nuclear fuel.

"On an issue that affects our economy, our security, and the future of our planet, we can't continue to be mired in the same old stale debates between left and right, between environmentalists and entrepreneurs," Obama said in a stop at a job training center outside Washington. "Our competitors are racing to create jobs and command growing energy industries. And nuclear energy is no exception."

Rising costs, safety issues and opposition from environmentalists have kept utility companies from building new nuclear power plants since the early 1980s

Obama has been arguing that the country must develop cleaner energy technologies and modernize the means by which it powers itself. At the same time, he has said that policymakers must not conclude they have to choose between a cleaner environment and sufficient energy supplies to meet demand.

Obama's budget proposal for 2011 would add $36 billion in new federal loan guarantees to $18.5 billion already budgeted but not spent - for a total of $54.5 billion. The new $8.3 billion in federal loan guarantees will go toward the construction and operation of a pair of reactors in Burke County, Ga., by Southern Co.
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NK