Obama's plan to fund Nuke Plants!
and quoting this article ..
http://www.guardian.co.uk/commentisfree/cifamerica/2010/feb/16/barack-obama-nuclear-powersnip:
In addition to cost, there have been significant concerns about the proposed designs for new reactors around the country. The Georgia plant selected for the first award is no stranger to these problems.
The Westinghouse AP1000 reactor design, proposed for the Georgia site and six other sites around the country was sent back to the drawing board after federal regulators last October discovered major safety concerns in the design proposal, with regulators noting that it would not sufficiently protect the reactor from earthquakes, tornadoes, hurricanes and airplane crashes. The DOE loans are conditional at this point, awaiting approval from the Nuclear Regulatory Commission. Other proposed reactors in this promised nuclear revival would use a design from French nuclear power company Areva that nuclear regulators in France, Finland, and the United Kingdom have said has "a significant and fundamental nuclear safety problem" with its instrumentation and control system.
Westinghouse is expected to submit a new design proposal this month, but without that new proposal it's difficult to even put an accurate price tag on the project. The last estimate for the two Georgia reactors provided by Southern Company was $14bn. The head of Georgia Power Co, a subsidiary of Southern, has noted that the actual cost of the reactors will likely vary widely from original projections, but the company shouldn't be required to disclose changes to projected costs regularly. The conditional loan guarantee from the Department of Energy is for $8.3bn. It's worth noting that the two reactors already on the Georgia site, completed in the 1980s, had huge price overruns; though initially estimated at $1bn, the final price was almost $9bn.
The government backing of the Georgia project is a major financial gamble, but the White House seems to see it as worth the risk politically.
Last week Obama told reporters that his embrace of nuclear power is part of an effort to adopt some Republican ideas on energy, adding that he remains an "eternal optimist" about bipartisanship. The case the administration has made is that they will give Republicans more nuclear power, offshore oil and gas drilling, and incentives for coal, if they will accept a cap on carbon emissions and investments in renewable energy. But so far his entreaties have been met with a resounding "No" from the right, which maintains that he is "anti-nuclear". The $54bn in tax-payer dollars they've put on the line would indicate otherwise.