REPORT: $50 BILLION NUCLEAR BAILOUT WOULD UNDERMINE BIDEN CLIMATE AND INFRASTRUCURE GOALS
Economic Analysis Shows $10-50 Billion In Proposed Nuclear Subsidies Would Subvert Biden’s Infrastructure Plans; Best Investment for Jobs, Climate and the Economy is in Rapid Transition to Renewable Energy and Smart Electricity Grid, According to Expert
WASHINGTON, D.C.//July 15, 2021//A new report shows why the best infrastructure investment for U.S. jobs, the climate, and the economy is in a rapid transition to renewable energy and a 21st-century electricity system, and to phase out nuclear power and fossil fuels. While nuclear subsidy proposals in play as part of infrastructure negotiations like those from Senator Joe Manchin (D-WV) and Senator Ben Cardin (D-MD) would designate $6-$50 billion to bail out uneconomical nuclear power plants, the new economic analysis shows that subsidizing nuclear reactors would hobble the needed transition to a modern energy system and waste the economic and environmental benefits of renewable energy
The report by Dr. Mark Cooper, senior research fellow for economic analysis, Institute for Energy and the Environment, Vermont Law School, was released during a video news event featuring experts from the Nuclear Information and Resource Service (NIRS), Friends of the Earth, and the Nuclear Energy Information Service (NEIS) in Illinois. The report is available here.