Congressional appropriators are collectively like the notorious Soup Nazi from Seinfeld. Special-interest lobbyists dole up for the dole-out, to face judgment both capricious and fascistic, impossible to predict. For the 2012 omnibus spending bill scheduled for a vote today, Dec. 16, one big surprise verdict has been rendered: "No soup for USEC!"
That's right, the alleged in-the-can $300 million bailout for my favorite non-performing nuclear company won't be leaving the can, or perhaps we should say it's been flushed down the can—it isn't in the bill being introduced in the House. "Left on the cutting-room floor," is how one breaking press account describes it. The "American Centrifuge Plant" or ACP as they called it, is now kaput.
There are few winners in the energy sector. Time-warp manufacturers of incandescent light-bulbs are one, as Congress would block implementation of the Department of Energy's lighting efficiency standards. Why not go whole-hog and rescind the rural electrification program, so to revive the beeswax industry? A coalition of manufacturers, energy industry groups and environmentalists has assembled to bash the move.
Virtually all programs of the Department of Energy (DOE) face cuts from budgets requested by the Administration. Renewable energy suffers more than nuclear and fossil fuels. The $181 million in unallocated authority for renewable energy loan guarantees is rescinded, terminating that whole program, but everybody knew that was coming. And, $233 million has been cut from the U.S. Environmental Protection Agency.
Nuclear industry dreams for a revival of the Yucca Mountain spent fuel repository are dashed, as hoped-for funding to pursue the project did not materialize. That hits USEC at the back-end, since the company's one diversified subsidiary specializes in the storage and transportation of spent nuclear fuel.
No Soup for USEC!
I first heard of the disappearance of the USEC bailout from the DC deal of deals on Dec. 15, when sent a link to the published Energy and Water portion of the bill, which includes no mention of any special funding for USEC. That was soon followed by trade-press articles expressing astonishment that the ballyhooed bailout was gone, as if there had been some mistake. By the end of the trading day, USEC stock was moving in enormous blocks—about 1.5 million shares in the last half hour—to close at the all-time low of $1.16, and falling.
It's almost as if my jabs at Congressman LaTourette (R-OH), pusher of the bailout in the House [see part 4 of this series] had been taken seriously. The impression was reinforced by subsequent analysis of the vanishing bailout in Politico, which included claims that Senate Appropriations leaders, led by Democrats Feinstein and Reid, had forwarded proposed bailout language to the House side and never heard back.
But this explanation by way of accident represents journalistic ignorance, not congressional negligence. Whatever the public posturing, legislators backed away from the bailout for reasons, many of them elaborated in this series of articles on USEC. [see part 1 of this series and subsequent articles in this series] USEC had continued to characterize the needed assistance differently from what DOE was proposing: USEC needed cash to pay its bills, plus a massive loan guarantee; while DOE offered only "technical assistance" with controlled, delayed disbursement. USEC needed a heroine fix. DOE offered methadone rehabilitation.
Atomic Stink Bomb
USEC also had to hope that the congressional bailout would slide by before news of the company's partnership talks with the distinctly un-American AREVA were disclosed. And it almost happened that way, until the omnibus agreement was delayed and AREVA spilled the beans in Paris, in a crisis. The flirtation with the French may have been especially damaging to relations with the Francophobic Tea Party caucus in the House of Representatives.
In sum, the proposed USEC bailout had become an atomic stink bomb, a potential Solyndra Grande that no House Republican wants hung around his neck. And that may hold particularly true of House Speaker Boehner, from Too-Close, Ohio.
That interpretation is supported by reporting in the Columbus Dispatch, according to which, Boehner and other House Republicans considered the proposed USEC bailout as a potential violation of their pledge to include no earmarks—a point I made when the bailout idea was unveiled.
While it remains technically possible for the USEC bailout, or any other change, to be added to the bill in the final hours, nobody thinks that will actually happen. Congress intends to adjourn for the holidays, and USEC will be left with its threat to "demobilize" ACP permanently, in the absence of both a bailout and a loan guarantee.
The only total reality escapee is Rob the Poor Portman, U.S. Senator from Ohio, who has built his whole political career on USEC advocacy. “We can’t let it go. This would require us to come back later and spend far more of the taxpayers’ money," Portman is quoted as saying by Politico, on news of the missing bailout language. "You have to have it.”
No, Rob, we don't have to have it. Your White House ambitions are not a national security need.
A more accurate assessment of the "American Centrifuge Plant" was made also on Thursday afternoon by a regular commenter on a USEC investor message board: "Yes, it's over. It was never real anyway."
The big winners of the 2012 omnibus appropriations battle are the people of Ohio, who now can reclaim our public land from the political fiction that has passed.
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EcoWatch Daily Newsletter
By Naomi Larsson
For centuries, the delicate silver dove has been a symbol of love and fidelity.
Biodiversity and Habitat Loss<p>Their near extinction is a symbol of the <a href="https://www.dw.com/en/global-biodiversity-outlook-targets-extinction-summit-new-york-pledge/a-54932895" target="_blank">biodiversity crisis</a> in the UK, largely driven by habitat destruction. Britain is now one of the countries with the most <a href="https://www.wwf.org.uk/future-of-UK-nature#:~:text=The%20UK%20is%20one%20of,than%20half%20are%20in%20decline" target="_blank">depleted nature</a> in the world according to the World Wildlife Fund. Half its plant and animal species are in decline and more than <a href="https://www.rspb.org.uk/about-the-rspb/about-us/media-centre/press-releases/let-nature-sing-wales/#:~:text=a%20natural%20tragedy.-,Over%2040%20million%20birds%20have%20vanished%20from%20UK%20skies%20in,unaware%20of%20the%20impending%20danger" target="_blank">40 million birds</a> have vanished in just half a century.</p><p>"[Turtle doves] are the canary in the [coal] mine because there are all these other species before it and after it," said Tree. "It's an umbrella for all the other species that are heading that way."</p><p>Turtle doves migrate south through Europe to sub-Saharan Africa between July and September, ending up in dry woodland and farmland areas of countries like Mali and Senegal for winter. </p><p>Droughts in West Africa and the Sahel region are believed to have contributed to the fall in turtle dove species recorded in northern Europe, with low rainfall reducing supplies of the seeds and insects the birds rely on for energy for the long journey home.</p>
Conservation and Farming<p><a href="https://www.operationturtledove.org/" target="_blank" rel="noopener noreferrer">Operation Turtle Dove,</a> a partnership project of charities including the Essex Wildlife trust, works with landowners and farmers to actively build turtle dove habitat.</p><p>Outten works with <a href="https://www.ebws.org.uk/birdsites/blue-house-farm-ewt-north-fambridge" target="_blank">Blue House Farm</a>, a 660-acre nature reserve in the UK county of Essex, where they have replicated weedy fallow plots. </p><p>"We work on it every year to make sure it's in the condition it needs to be with plants such as clovers and black medic," Outten said. "These plants are native to the landscape and produce the seed the birds feed on." </p><p>The birds eat a wide range of seeds from various plants that would have been abundant 50 or 100 years ago, added Guy Anderson, program manager for species recovery with The Royal Society for the Protection of Birds (RSPB). </p><p>"But it's simply true that with the gradual process of <a href="https://www.dw.com/en/farming-without-pesticides-how-can-we-make-agriculture-greener/a-52216796" target="_blank" rel="noopener noreferrer">intensifying our agricultural production</a>, the availability of those seeds has dropped and dropped," said Anderson.</p><p>Part of the project includes supplementary feeding — providing sources of food in the form of seed or grain. Under the Countryside Stewardship Scheme in England, farmers can receive financial support to create a turtle dove habitat. </p><p>Though they haven't recorded an increase in doves across the sites in the four years of working on the project, Outten said they are seeing improvements in how landowners and farmers manage habitat for the birds. </p>
A Turtle Dove Haven<p>The 3,500-acre Knepp Estate in West Sussex is another project taking a different approach and one of the few places where turtle dove numbers are increasing.</p><p>Isabella Tree and her husband Charlie Burrell converted their intensively farmed land into a rewilding project almost 20 years ago. They have let the land return to nature.</p><p>Just one year after they'd finished <a href="https://www.dw.com/en/uks-most-talented-architects-are-not-human/a-35952128" target="_blank">rewilding</a> the southern part of their property, they heard turtle doves for the first time. It's now a breeding hotspot for the birds with an estimated 19 pairs. Knepp is also home to <a href="https://www.rewildingbritain.org.uk/rewilding/rewilding-projects/knepp-estate" target="_blank" rel="noopener noreferrer">2% of the UK's population</a> of nightingales. </p><p>Tree is critical of supplementary feeding schemes that, in her view, are short term. She questions the chances of turtle doves getting to feed on scattered seeds before other mammals eat them first.</p>
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By Jessica Corbett
Green groups applauded Sen. Jeff Merkley on Wednesday for introducing a pioneering pair of bills that aim to "protect the long-term health and well-being of the American people and their economy from the catastrophic effects of climate chaos" by preventing banks and international financial institutions from financing fossil fuels.