Obama Pledges $8B to Build Nuclear Plant

It would be the first in the US in 30 years
By Harry Kimball,  Newser Staff
Posted Feb 16, 2010 1:17 PM CST
Obama Pledges $8B to Build Nuclear Plant
President Barack Obama looks over a training panel at a jobs training center at the International Brotherhood of Electricians (IBEW) Local 26 headquarters in Lanham, Md, today.   (AP Photo)

President Obama today pledged to guarantee $8 billion in loans to build a new nuclear power plant in the US—the first in 30 years—as part of his clean energy agenda. To make green power a reality, the president told a gathering of union electrical workers, “we’ll have to build a new generation of safe, clean nuclear power plants” in addition to investments in renewables such as solar and wind power.

The $8 billion pledge to help secure financing is just the first step in a process that could take several years, the Los Angeles Times reports. “There will be those who welcome this announcement, and those who strongly disagree with it,” said Obama. But “on an issue which affects our economy, our security and the future of our planet, we cannot continue to be mired in the same old debates between left and right, between environmentalists and entrepreneurs.” (More President Obama stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.