Markey Welcomes Obama Call for Passing Comprehensive Clean Energy & Climate Legislation

Rep. Edward J. Markey (D-Mass.), chair of the Select Committee on Energy Independence and Global Warming and chair of the Subcommittee on Energy and the Environment, which has jurisdiction over the Department of Energy and Nuclear Regulatory Commission, issued the following statement following President Obama’s announcement of $8 billion in funding for the nuclear loan guarantee program:

“President Obama continues to look to the energy sector as the vehicle for driving job creation.” said Rep. Markey, adding, “The President made it clear that passing comprehensive clean energy and climate legislation, like the House passed Waxman-Markey clean energy bill, is critical to American leadership in developing new technologies and industries to compete with China, India and other nations.”

The United States has not built a new nuclear power plant in three decades, due to huge cost overruns, safety concerns, and waste disposal problems that made nuclear power economically uncompetitive -- leading investors to shun nuclear power due to its high risks and poor financial performance. Recognizing the ongoing financial challenges facing the nuclear industry, the Waxman-Markey legislation included a Clean Energy Bank to help provide financing support for new reactors, as well as other non-carbon energy sources such as wind, solar, and efficiency.  In recognition, the Nuclear Energy Institute supported the Waxman-Markey legislation’s key provisions when the bill was debated on the House floor last June.

Chairman Markey also noted that in today's nuclear loan guarantee announcement, President Obama reiterated the need to address the issue of how to safely dispose of the dangerous radioactive waste generated by nuclear power, as well as the need to ensure that the nuclear industry is held to the highest and strictest safety standards.

 “While nuclear energy will play a competitive role in a low carbon economy, the issues of waste disposal and the inherent uncertainties in putting taxpayer dollars on the line for a nuclear power plant design that hasn’t yet been deemed to be safe to the public must be dealt with.” Markey said. “The process needs to be closely monitored to ensure public safety so that public dollars are responsibly provided only when the reactor is truly safe and shovel-ready.”

In letters exchanged with Department of Energy Secretary Stephen Chu, Markey has been advocating for public safety, financial protection for tax payers regarding the loans guarantees, while pointing out design flaw issues. Those letters can be found here.

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