USLegal Reporter » Energy

Obama to Announce New Nuclear Plants

Dana Altman — Tue, 16 Feb 2010 15:27:32 +0000

President Obama is preparing to announce groundbreaking for the first new U.S. nuclear reactors since the incident at Three Mile Island in 1979. The reactors will be built at a Southern Company plant in Burke, Georgia. The Energy Policy Act of 2005 authorized the Department of Energy to issue loan guarantees “for projects that avoid, reduce, or sequester air pollutants or greenhouse gas emissions and employ new or significantly-improved technologies.”The President has proposed tripling loan guarantees for nuclear-power plant construction to more than $54 billion in his FY2011 budget.

Approximately 20 percent of the United States’ energy needs are met through nuclear power. According to Southern Company, the new project will create approximately 3,000 onsite construction jobs in the short term and approximately 850 permanent operations jobs.

Source: http://blogs.abcnews.com/politicalpunch/2010/02/president-obama-yes-new-nukes.html

Bush Lifts Ban on Offshore Drilling

carrie — Tue, 15 Jul 2008 20:46:43 +0000

President Bush on Monday set aside an executive order which prevents drilling of US coasts. Bush says offshore drilling and exploration is needed to lessen our reliance on oil from foreign sources.

However, drilling can not occur unless Congress repeals a 1981 law which also prohibits the practice.

Environmentalists and officials in coastal states such as California and Florida oppose lifting the ban because of potential damage which can be done to the ecosytem including coral reefs.

Source: http://www.cnn.com/2008/POLITICS/07/15/bush.oil/

Oil Tax Bill Fails in Senate

carrie — Tue, 10 Jun 2008 22:03:27 +0000

An energy bill that would have placed heavier taxes on major oil companies failed to garner enough support in the Senate today.

The Democratic proposal aimed to roll back $17 billion in tax breaks for major oil companies. It would have also placed additional tax burdens on oil companies that did not invest in alternative energy sources.

The bill did not obtain enough votes to be taken up for full consideration.

Source: http://www.nytimes.com/2008/06/11/business/11congweb.html?hp