Monday night owls: Nuclear industry uses viral outbreak to seek fat bailout it begged for last fall

Monday night owls: Nuclear industry uses viral outbreak to seek fat bailout it begged for last fall

Night Owls, a themed open thread, appears at Daily Kos seven days a week

Andrea Germanos and Jon Queally at Common Dreams write—Nuclear Industry Effort to Exploit Coronavirus Crisis for Backdoor Bailout Decried as ‘Disaster Capitalism at its Worst‘.

Friends of the Earth on Monday accused the nuclear power industry of exhibiting “disaster capitalism at its worst” after a lobbying group representing it reportedly asked the Trump administration for a 30% percent tax credit amid the coronavirus pandemic and pressed congressional lawmakers to include handouts in stimulus legislation making its way through the House and Senate.

According to E&E News, which focuses on the energy industry, the request came in a letter sent to congressional leaders and White House officials on Friday by Nuclear Energy Institute president and CEO Maria Korsnick.

In addition to other forms of aid—including sick leave for employees and “prioritized access” to testing and masks—the letter requested taxpayer-funded grants in the form of broad tax credits and waivers for existing regulatory fees.

“Our member companies are anticipating—or are already experiencing—severe financial strain as product orders are delayed or canceled, as industrial electricity demand falls, and as workforce availability becomes increasingly constrained,” Krosnick wrote to in a letter sent to lawmakers, Treasury Secretary Steven Mnuchin, and Larry Kudlow, director of the National Economic Council.

In reaction, Friends of the Earth senior policy analyst Lukas Ross called the request a bald effort to exploit the current outbreak and economic downturn to obtain the same kind of financial bailout it has repeatedly sought from the U.S. government in recent years.

“Demanding a $23 billion gift from taxpayers during an unprecedented public health crisis sets a new low bar,” said Lukas Ross, senior policy analyst with Friends of the Earth. “The nuclear industry begged for a bailout last fall and is now using coronavirus to try and brazenly grab more cash.”

The industry proposal, added Ross, “would hurt ratepayers and the climate at a time when immediate need for people must be the first priority. The nuclear lobby should be ashamed. This is disaster capitalism at its worst.”

TOP COMMENTSHIGH IMPACT STORIES

QUOTATION

It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach.” ~~Franklin D. Roosevelt

                

TWEET OF THE DAY

The same guy who said �I alone can fix it,� And then said �I take no responsibility,� Now wants to be in charge of a $500 billion slush fund with the power to reward friends and punish enemies, and says, �I will be the oversight.� My answer: �No you won�t.� https://t.co/8SKWPxxYBE

— Adam Schiff (@RepAdamSchiff) March 24, 2020

BLAST FROM THE PAST

At Daily Kos on this date in 2011—Trumping Pawlenty: The Donald gets more media coverage than T-Paw:

Byron Tau points out yet another example revealing the weakness of the GOP’s 2012 field: even though Tim Pawlenty has methodically planned his presidential campaign for more than a year and just formally announced his exploratory committee, Donald Trump has still managed to get more coverage from television networks over the past month.

According to Nexis search of CNN, ABC, NBC, Fox, and CBS transcripts, Pawlenty has gotten mentioned on 72 broadcasts while Trump has made into 79. So when Republicans fret about their prospects for defeating President Obama, they’ve got something to worry about. Their two biggest names are reality TV shows stars who probably won’t end up joining the race. Meanwhile, real candidates like Pawlenty manage to inspire little more than yawns.

On today’s Kagro in the Morning show: Greg Dworkin updates things for us. Coronavirus rages on, as does Trump. Is Fauci on the bubble? Republican senators are caught with their unwashed hands in the cookie jar, fishing for a $500 billion slush fund, and cashing in on insider trading.

Powered by WPeMatico

Comments are closed.
%d bloggers like this: