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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsReps. Markey, Burgess Want Investigation of DOE Support for Near-Bankrupt Nuke Enrichment Corp USEC
Reps. Markey, Burgess Call For GAO Investigation of DOE Support for Near-Bankrupt USEC
http://markey.house.gov/press-release/markey-burgess-call-gao-investigation-doe-support-near-bankrupt-usec
Jun. 12, 2012 --
Precarious financial situation, contravention of laws, inaccurate national security benefits underscore risk for bailout of nuclear enrichment company
WASHINGTON, D.C. Congressmen Edward J. Markey (D-Mass.) and Michael C. Burgess, M.D. (R-Texas) today wrote the Government Accountability Office (GAO) calling for an investigation of the Departments of Energys (DOE) continued support for the floundering United States Enrichment Corporation (USEC). In their letter to the GAO, the lawmakers point to USECs inability to avoid insolvency in the absence of continued DOE bailouts, most recently in the form of $44 million in assistance so that the company could continue work on USECs flawed centrifuge technology and tens of thousands of tons of free uranium transferred from the Energy Department to stave off an immediate shut down of its Kentucky enrichment facility. Additionally, the Congressmen cite the recent credit downgrading, technical problems, and inaccurate assertions about the national security benefits as reasons why the nuclear enrichment program may never reach full commercialization.
Weve been told this earmark is all about avoiding risk to our national security, but the real risks of this nuclear bailout is for taxpayers who will be on the hook for questionable government handouts that are worth more than the entire company, said Rep. Markey. The GAO should immediately commence an investigation into DOEs ongoing support for USEC before we throw more money at a company whose junk bond status and junk technology make it better suited for the budgetary junk heap.
The Department of Energy has been harming the uranium mining industry for years, dumping excess uranium tails into the market to prop up a failing company that couldn't stand on its own feet. As a result, thousands of miners from Texas, New Mexico, Arizona, Wyoming, Utah, and others, have had their livelihoods put in jeopardy, said Rep. Burgess. It is time the Department of Energy is held accountable for their activities. This GAO report will be the first step in bringing justice for an industry still damaged by Department of Energy policies.
A copy of the letter to the GAO can be found HERE. more:
Well, well well, now we see that not just Solyndra is getting gov. help, but also nuke corpos. This comes on the heels of news that nuke owners in GA want taxpayers to cough up $8.3 BILLION in guaranteed loans to build two new nukes. http://org2.democracyinaction.org/o/5502/p/dia/action/public/?action_KEY=9662
BlueToTheBone
(3,747 posts)all domestic spending and buy our doom.