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Subsidies for nuclear power; fewer for clean energy

Mar 27, 2012 3:27 pm
Nancy Folbre, an Economics Professor at the University of Massachusetts, Amherst, asks why the government continues to nurture nuclear power more than safer, and less costly sources of electricity. Writing in the New York Times "Economix" blog, Folbre compares a $8.3 billion Energy Department guarantee to help utility giant Southern Company build nuclear reactors in Georgia with loan guarantees similar to the incentives awarded to solar panel manufacturer Solyndra. Those loan guarantees drew heavy criticism from Republicans when the business failed, but according to a report published by the Union of Concerned Scientists, "subsidies to the nuclear fuel cycle have often exceeded the value of the power produced," Folbre writes. What's more, "the government favors extending the life of aging nuclear plants like Vermont Yankee and Indian Point 2 in Buchanan..., which have reached the end of their projected lifetime operation." Read the full post online at Economix.