A Nuclear Swindle

Wenonah Hauter
July 27, 2005

Wenonah Hauter is director of the energy program for Public Citizen, a Washington, D.C.-based public interest organization with 150,000 members.

In one of the biggest taxpayer bailouts in recent years, the energy bill about to pass out of Congress stands on the cusp of providing the nuclear industry and the oil industry, among others, with the sweetest deal that energy executives have seen in the last 50 years. Passage of this costly and flawed bill will prove to the American public that Congress cares more about rewarding business interests than protecting consumers—who will predictably suffer from higher energy bills and corporate abuse enabled by this legislation.

Despite cries for reduced foreign oil dependence, lower gas prices, strong global warming provisions and a general need to conserve energy, this bill instead reaches out to reward two industries that don’t deserve the gifts they’re being bestowed: the nuclear and oil industries. These industries serve as an example of how our energy future is being dictated by corporate interests, not common-sense policies that will ensure a healthier environment for generations to come. Like ‘Banana Republic’ officials on the take, Congress has accepted $90 million from these industries since 2001 in exchange for providing them with billions of dollars in subsidies and regulatory rollbacks.