• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 8 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 25 mins Prosecutors Fine Bosch 90 Million Euros For Emissions Cheating Role
  • 7 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 1 hour Apple Boycott in China
  • 12 mins Is $60/Bbl WTI still considered a break even for Shale Oil
  • 2 mins Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 20 hours IMO 2020 could create fierce competition for scarce water resources
  • 20 hours IMO2020 To scrub or not to scrub
  • 7 mins California's Oil Industry Collapses Despite Shale Boom
  • 20 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 4 days Some Good News on Climate Change Maybe
  • 16 hours Apple Bid To Buy Tesla in 2013 For $240 a Share
  • 19 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.

Twin Nuclear Plants In Georgia Get $3.7 Billion Lifeline

Nuclear

Nuclear power plants received a much needed boost from the Trump administration this week when the White House approved $3.7 billion in loan guarantees for two struggling power plants in Georgia.

The pair is currently under construction, and has already received $8.3 billion in similar loans from the Obama administration.

The loans would be funneled through three companies to the two projects. Of the promised debt, $1.67 billion would go to the Georgia Power Company, $1.6 billion would go to the Oglethorpe Power Corporation and $415 million would go to the Municipal Electric Authority of Georgia.

To date, the U.S. government has offered $12 billion for this pair of projects.

Nuclear power projects in the U.S. have had to battle the rise of natural gas – a fossil fuel considered to be healthier for the environment than coal and oil, while being cheaper than nuclear energy. The Energy Information Administration says the share of nuclear in the U.S. electricity generation mix will drop from 20 percent in 2016 to 11 percent in 2050, as more nuclear capacity is retired than built, and as other fuels such as natural gas and renewables gain market share.

Related: Oil Prices Haven’t Plateaued Yet

According to a nuclear fuel expert who has worked on developing nuclear gas turbines, some 80 percent of the substantial construction costs for nuclear power projects where nuclear fission is used to heat steam plants is spent on the technology and facilities outside of the so-called nuclear island, the one that contains the nuclear reactor.

According to the Nuclear Energy Institute (NEI), a total of 99 nuclear reactors currently supply around 20 percent of the U.S. electricity and approximately two-thirds of the nation’s carbon-free electricity.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News