Waste-Busting "Golden Fleece Award" To Go To Small Modular Reactors

     Waste-Busting "Golden Fleece Award" To Go To Small Modular Reactors

PR Newswire

Feb. 26

Award to Focus Attention on Federal Tax Dollars Being Lavished on Unproven
Nuclear Reactor Technology Developed By Profitable Global Companies With No
Need for Corporate Welfare.

WASHINGTON, D.C. ///NEWS ADVISORY/// The hundreds of millions of dollars in
corporate welfare now provided by U.S. taxpayers to subsidize research and
development (R&D) and licensing of "small modular reactors" will be the focus
of the latest "Golden Fleece Award" from Taxpayers for Common Sense (TCS).

During a live, phone-based news conference at 1:30 p.m. EST on February 27,
2013, TCS will make its latest award casting the spotlight on a major rip off
of U.S. taxpayers. The news event will take place a few weeks before President
Obama's latest budget outline is expected to call for a continuation of SMR
licensing and R&D funding at taxpayer's expense.

The federal government already paid for a version of SMR R&D when small
reactors were designed for the U.S. Navy's nuclear submarine fleet. Now some
highly profitable companies – including Babcox & Wilcox, Westinghouse, Holtec
International, and Fluor Corporation -- are at the federal trough for another
round of federal support for "small modular reactors" that would go into
suburban American neighborhoods. The Department of Energy (DOE) is hoping to
parcel out more than 500 million dollars in subsidies in the hopes of somehow
commercializing SMRs. 

Even though small modular reactors are benefiting from glowingly uncritical
news reporting today, the simple truth is that this is corporate welfare.
Adding insult to injury U.S. taxpayers have no guarantee that the money that
is wasted on SMR licensing and R&D will ever generate a single kilowatt of
power. The problem is that commercial SMRs are a theoretical concept at this
stage; SMRs have never been built or tested … and they come with several huge
question marks, including: the lack of long-term radioactive waste storage, a
likely inability to compete with cheaper fuel sources in the energy
marketplace, the creation of additional targets for terrorist attacks across
suburban American, the cost of added security to protect the new facilities,
etc.

News event participants will be:

  oRyan Alexander, president, Taxpayers for Common Sense; and
  oAutumn Hanna, senior program director, Taxpayers for Common Sense.

TO PARTICIPATE:You can join this live, phone-based news conference (with
full, two-way Q&A) at 1:30 p.m. EST on February 27, 2013 by dialing 1 (888)
437-2685. Ask for the "TCS SMR golden fleece award" telenews event.

CAN'T PARTICIPATE?: A streaming audio replay of the news event will be
available on the Web at http://www.taxpayer.net as of 5 p.m. EST on February
27, 2013.

CONTACT: Ailis Wolf, (703) 276-3265 oraawolf@hastingsgroup.com.

Taxpayers for Common Sense is a 501(c)(3) non-partisan budget watchdog serving
as an independent voice for American taxpayers. The mission of TCS is to
achieve a government that spends taxpayer dollars responsibly and operates
within its means. The organization works with individuals, policymakers, and
the media to increase transparency, expose and eliminate wasteful and corrupt
subsidies, earmarks, and corporate welfare, and hold decision makers
accountable.

The Golden Fleece Award was created in 1975 by the late Senator William
Proxmire. It is intended to highlight instances of wasteful spending. After
retirement, Sen. Proxmire served as Honorary Chairman of Taxpayers for Common
Sense's Advisory Board and passed the mantle of the Golden Fleece to the
organization in 2000.

/PRNewswire-USNewswire -- Feb. 26, 2013/

SOURCE Taxpayers for Common Sense, Washington, D.C.

Website: http://www.taxpayer.net/