DOE looking 'very closely' at Cold War-era law to boost(save) coal, nuclear production
Energy Secretary Rick Perry confirmed that the Trump administration is looking into using a Cold War-era law to prop up struggling U.S. coal and nuclear power plants. Speaking to the House committee on Science, Space and Technology Wednesday, Perry named the Defense Production Act as something the Department of Energy (DOE) is "looking very closely at" as a way to secure the nation's energy grid.
"That’s approaching this from an economic standpoint and I think ... it’s about the national security of our country, of keeping our plants, all of them, online, being able to deliver energy" in an emergency, Perry told the committee. "So, we’re looking at a number of ways to approach this. I know the Defense Production Act is one of those ways to address [it] that we’re looking at very closely as well." It was reported in April that the Trump administration was considering utilizing the 68-year-old law, which was passed by Congress in the midst of the Korean War, as a way to nationalize the energy industry.
Bloomberg reported that White House aides were looking into how to best implement the policy, which gives the government broad latitude to nationalize private industry in the name of security. The law could allow the administration to provide help to the industries in the form of loans and loan guarantees or purchase commitments. It could also be used to help specific regions or plants. Perry's announcement was the first confirmation that the act is strongly being considered as the administration seeks to help the coal and nuclear industries.
http://thehill.com/policy/energy-environment/386891-doe-looking-very-closely-at-using-cold-war-era-law-to-boost-coal
= new reply since forum marked as read
