Brown wants oil-rich states to back UK nuclear plants

http://www.yorkshirepost.co.uk/news/Brown-wants-oilrich-states-to.4209640.jp

Saturday, 21st June 2008

Brown wants oil-rich states to back UK nuclear plants

Oil-rich states should use the trillions of dollars they are making from soaring prices to finance new nuclear power plants in Britain, said Prime Minister Gordon Brown.

Speaking after a fractious summit of EU leaders in Brussels, the Prime Minister insisted that huge sums of cash needed to be "recycled" from regions such as the Middle East for the sake of the world economy.

He dismissed concerns over allowing sovereign wealth funds run by authoritarian foreign Governments to buy up key assets – insisting the domestic nuclear market should be "open for people to invest in".

"We want the oil countries to invest their revenue in energy outside oil, in oil consuming countries," Mr Brown told reporters. "One of the powerful messages I take that we discussed round the table at the European Council is that there is a market for investment outside oil that can recycle some of the three trillion of revenue that the oil companies have made.

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