Biden’s investment plan, if it is, will be “Nuclear”
One thing is certain: if Biden's investment plan, the Build Back Better, is there, it will certainly focus heavily on nuclear power. Because? Simply because the Democratic senator who up to now, with his veto, has blocked him, that is Joe Manchin of West Virginia, is in favor of nuclear power and hydrogen, indeed he is much more pushed in these positions than Biden!
Just before Christmas, Democratic Senator Joe Manchin of West Virginia producer of coal and gas, a crucial vote in a divided Senate, said he would not support President Biden's Build Back Better bill. The Democrats are now trying to save the bill and therefore are trying to adapt the plan to Manchin's wishes to get him to vote V in favor. This senator, however, supports only a part of Biden's "Green" policy: in fact he is in favor of optimizing the use of fossil energy resources, the development of hydrogen, but, above all, he is in favor of nuclear power as a necessary tool to reduce dependence on oil. Indeed, while Biden is in favor of granting large tax credits for nuclear power for a duration of six years, Manchin is in favor of extending these tax contributions up to 10 years. A notable increase!
Last week, Senator Manchin told reporters, as reported by The Hill :
"I'm big on hydrogen, I'm big on nuclear, and I'm really big on ensuring that fossils are used in the cleanest way possible."
"The climate issue is one that we can probably reach an agreement much easier than anything else," he added.
Manchin and other Democratic senators introduced legislation last year to make nuclear power owners / commercial operators eligible for the same 1.5 cent / kilowatt hour ($ 15 / megawatt hour) credit proposed for wind operators.
"Maintaining zero-emission energy base production provided by our nuclear power plants and preventing further retirements of our nuclear reactors is critical to achieving any emission reduction goals," Manchin said at the time.
Even the most extreme pushes towards green energy see nuclear energy as part of the mix, sometimes centrally. After all, partly with hydroelectricity, they are the only relevant stable alternative source in the output. If you want an industry it will be difficult to do without it.
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The article Biden's investment plan, if any, will be “Nuclear” comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-piano-di-investimenti-di-biden-se-sara-sara-nucleare/ on Fri, 14 Jan 2022 12:03:01 +0000.