The Obama administration [has] moved vigorously on two fronts ... to promote nuclear power, proposing a tripling of federal loan guarantees for new projects and appointing a high-level commission to study what to do with nuclear waste. Administration officials confirmed that their 2011 federal budget request next week would raise potential loan guarantees for the projects to more than $54 billion, from $18.5 billion. Energy Secretary Steven Chu has been saying for weeks that the administration would seek a greater amount of guarantees; commercial investment has been hard to come by because there is so much uncertainty about the cost and schedule for building plants. When President Obama said in his State of the Union address on [January 27] that the country should build a new generation of safe, clean nuclear power plants," it was one of the few times he got bipartisan applause. Opponents have complained that loan guarantees for projects that cannot attract commercial investment amounted to "nuclear socialism."
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