04/18/2010 05:12 am ET Updated May 25, 2011

Steven Chu Unaware That Nuclear Loans Have 50 Percent Risk of Default

The Obama administration on Tuesday announced a loan guarantee for the first new nuclear reactor to be built in the US in decades--part of a planned $54.5 billion program to kickstart a nuclear revival using government-backed loans. Yet Chu said he was not aware of a Congressional Budget Office study showing that the chances of default on these loans are "very high--well above 50 percent."

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