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Financial Crisis Will Hit Nuclear Power

Growth in the construction of new nuclear plants worldwide is at risk because of the global financial crisis, U.S. Energy Secretary Samuel Bodman has said. During a visit to Paris, Bodman said the crisis could have an impact on the "nuclear renaissance" that is sweeping the industry as countries around the globe search for alternatives to fossil fuels.

Long-term projects like nuclear plant building "are the ones that are going to be the most difficult to finance," he told reporters. While Bodman said he is hopeful the financial crisis will be resolved, "long term projects are at risk, I would think."

While long-term nuclear projects are at risk, short-term projects such as oil drilling shouldn't be affected, Bodman said, because the industry is less reliant on bank borrowing.

Growth in the construction of new nuclear plants worldwide is at risk because of the global financial crisis, U.S. Energy Secretary Samuel Bodman has said. During a visit to Paris, Bodman said the crisis could have an impact on the "nuclear renaissance" that is sweeping the industry as countries around the globe search for alternatives to fossil fuels.

Long-term projects like nuclear plant building "are the ones that are going to be the most difficult to finance," he told reporters. While Bodman said he is hopeful the financial crisis will be resolved, "long term projects are at risk, I would think."

While long-term nuclear projects are at risk, short-term projects such as oil drilling shouldn't be affected, Bodman said, because the industry is less reliant on bank borrowing.