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We got Hornbeck Offshore Services CEO Tom -- -- take on the president's new energy security plan.
Now let's hear from the CEO of one of America's biggest electricity providers.
Mike Morris American Electric Power joining us now -- an exclusive interview Mike.
We heard the president today say he was in favor of more nuclear power in the United States your biggest -- -- -- that.
But -- and I must say I -- and I'm quite impressed with the way the president has continued to speak constructively about nuclear power how we can learn lessons from the incidents in Japan.
And most importantly what we can take away from that and make sure that we've got adequate safety here.
The real issue will be how to we -- going forward how does this administration help those things happen as you know.
There's been a pretty solid stance against the high level rad waste facilities that Yucca Mountain which is ill thought through.
I would hope that they would come around to think that that was an appropriate way to go.
Issuing -- the -- the permits from the Nuclear Regulatory Commission that share there as well as the other commissioners have continued to say.
Very constructive and very supportive things.
Very different approach to nuclear power and our country than others.
And I think we're in a safe sound so we would be foolish to say could never happen here.
Learn the lessons employ the lessons but greater support for the high level -- waste issue which is still out there in -- haunting the issue long term.
Up -- -- you know before of the Japanese quake and the subsequent near meltdowns with this nuclear reactor.
The president was very bullish on nuclear energy in fact he made several speeches in areas where there would be growth in nuclear energy.
And there wasn't it appeared to be real any reversal in fact shortly after the quake keep puts Steven Chu the secretary out there who then said we actually need more money to invest.
In nuclear energy how don't.
How do we make sure that there's a follow through their DC any indication that there wouldn't be or -- pretty convinced that that we can really believe that -- happen.
-- -- I'm convinced that they're saying all the right things so what I -- watching for is how they perform after that remember that.
The decision to go far with a nuclear power plant as a states rights decision.
You need to get -- nuclear safety authority from the federal regulator and there the loan guarantees are helpful -- a great way for those companies that take that step.
But without the state financial regulator in the utility business saying go forward and do this like they've done in Georgia like they've done in the Carolinas.
Nothing -- happen in that regard.
Many states have again the high level rad waste if there -- -- repository for that.
Then your forbidden from even bring forward the concept of -- clear that something that they can do -- a constructive way.
In two senses one it shows a real dedication to the issue.
In two if we learned anything from Japan we learned that the spent fuel pools are an issue.
And not having all of the spent nuclear fuel at a single location.
Protected by the US government north of Las Vegas would be the appropriate way.
Lots of your money and my money had been spent on that.
And now's the time for the administration to work on that as well as the other things that they keep saying.
But I am impressed and I do want to compliment the president and the secretary for standing tall and saying all of the right things here.
The notion of shutting them all down shutting him down for some period of time again ill thought through and and and really ill advised.
Yeah but you gotta walk the walk as well target talked you know it's not only the -- -- though that are against nuclear power Mike and you know there's a lot of libertarians say you mentioned.
The federal loan guarantees and are also the federal insurance today helping with the federal insurance policies for a lot of these nuclear plants.
A lot of libertarians say that nuclear power could not survive without the federal subsidies is that true.
Just not true at all nuclear power again is predicated on.
The state public utility commission public service commission state legislature saying.
In our state -- -- nuclear powers the way to go we're gonna allow the companies they electric utilities to go forward and build those stations and have the customers in this state.
Pay for the costs of that electricity that's a very important step.
And as far as.
Without without a special guarantees.
On insurance and loan guarantees a nuclear targets still stand itself.
We -- two issues remember that we are self insured industry as it pertains to the physical impact of something that would go wrong and your plant that's an outgrowth of the Three Mile Island event that happened in 1979.
Energy insurance limited that takes -- price Anderson is a very important act and that takes care the much larger ramifications might come from that.
That's true and that's essential so if that were to go away then every state would be taking a much much different risk profiles so.
To that fine point David I think it needs to be there.
For a new nuclear station to be bill.
American Electric Power CEO Mike Morrison -- in Columbus, Ohio although we saw the Cleveland Cavaliers beating the Miami.
I think I'll look I'm very -- that pin connector that a fix like it is easy.
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