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...alternative to coal- and natural-gas-powered plants. While most Americans still don't want a nuke plant in their backyard, some economically depressed areas, like Port Gibson, Miss., and Oswego, N.Y., are actively lobbying to be the home of a new reactor--and of all the jobs and tax revenue that come with it. Most important, the powers that be in Washington, including President George W. Bush and Republican leaders in Congress, are firmly behind nuclear's expansion...
Still, for all the talk about a coming "nuclear renaissance," the industry's growth prospects could easily experience a meltdown. Various pieces of the energy bill being discussed in Washington include the possibility of tax credits, loan guarantees and an extended government-insurance program in case of major accidents, all of which could help spur new construction. But most industry experts say it will take many more federal handouts to convince Wall Street that new nuclear power plants--which went way over budget in their first incarnation--can ultimately be economically competitive. The thorniest issue facing the industry is what...
...mentioned this twice last week-at the Blair press conference and as an aside in the Social Security speech. It is possible that Bush's belated interest in alternative fuels is a ploy to misguide the public into thinking that his proposed energy bill is something more than a tax-incentive gravy train for the oil and coal industries (after all, the New York Times reported last week that the Administration has allowed a former oil- industry lobbyist to "edit" its position on global warming). But it is also possible that Bush is signaling that he would be open...
...instance, in 1985, he wrote in the New York Times that “the need for a tax increase has never been greater.” And during the 1988 presidential race, Summers served as a “kitchen cabinet” adviser to Michael S. Dukakis, the liberal Massachusetts governor. On behalf of the Dukakis campaign, Summers launched a series of scathing attacks on the first President Bush’s economic agenda, arguing that Democrats are “better for business...
When Bill Clinton captured the White House four years later, Summers joined the administration as under secretary of the Treasury for international affairs. Never one to mince his words, Summers (in)famously accused Republicans who opposed the estate tax of “selfishness.” Reflecting on that remark, Summers says, “that was neither my first nor my last infelicitous statement...