Political Quotes

“This bill ought to be renamed the ``No More Solyndras, But More Money for Nuclear White Elephants Loan Program.'' My friends on the other side of the aisle like to talk about the free enterprise system, but I'm sure that you're aware that Wall Street won't invest in nuclear power. The nukes can't get money from the free enterprise system, so they want government to bail them out. This bill claims to reduce wasteful spending on energy projects, but it's actually an attack on renewable energy. The real effect is laid bare by the effective date of the bill, which grandfathers the worst of the worst of the worst energy boondoggles. {time} 1300 Specifically, it allows nuclear power loan guarantee projects to proceed, even though some create exposure for the Federal Government of about 15 times the exposure created by Solyndra--and these programs, these nuclear loan programs, are more likely to fail. One of the biggest loan guarantees for nuclear, not even necessary. This is not my assessment. It's the assessment of Kevin Marsh, the President of South Carolina Electric & Gas Company, which is attempting to build a new nuclear power plant. He said, on a call to analysts and investors: We're confident in our ability to finance this project without a loan guarantee. It could be in the $8 to $10 billion range. So the conflict here is, generally, Wall Street isn't investing.…”