WASHINGTON—Congressional appropriations conferees announced …have taken steps to implement the clean-energy loan guarantee program authorized by the Energy Policy Act of 2005 by endorsing significant loan volume for capital-intensive energy projects for fiscal years 2008 and 2009. Since there are no actual appropriations involved, loan volume simply represents the dollar value of U.S. Government-backed loan guarantees that can be issued; it does not represent an outlay of taxpayer dollars.
The agreement will help encourage construction of new nuclear power plants and advanced coal-fired power plants capable of reliably generating large amounts of electricity to help meet the U.S. economy’s baseload energy needs. It is projected that that electricity demand will increase at least 30 percent by 2030, even with conservation and efficiency measures that are under way and being considered.
And big news on the clean-coal front, as well. An announcement from the Department of Energy:
WASHINGTON, DC — Following closely on the heels of three recent awards through the Department of Energy’s (DOE) Regional Carbon Sequestration Partnership Program, DOE today awarded $66.7 million to the Midwest Geological Sequestration Consortium (MGSC) for the Department’s fourth large-scale carbon sequestration project. The Partnership led by the Illinois State Geological Survey will conduct large volume tests in the Illinois Basin to demonstrate the ability of a geologic formation to safely, permanently, and economically store more than one million tons of carbon dioxide (CO2). Subject to annual appropriations from Congress, this project including the partnership’s cost share is estimated to cost $84.3 million.
Nuclear energy and clean-coal must be part of our nation’s energy future, unless, that is, we prefer to sit around unemployed in a cold, dark living room. If we can afford the living room.
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