President Obama today announced the first federal nuclear power loan guarantee. The $8 billion loan guarantee will go to Southern Company so that it can build two new reactors in Georgia. The President said the loan guarantee will help “build a new generation of safe, clean nuclear power plants in America." He went onto say, “Make no mistake: whether it is nuclear energy, or solar or wind energy, if we fail to invest in these technologies today, we'll be importing them tomorrow.” This is all part of the administration’s efforts to move toward a clean energy economy and help reduce greenhouse gases at the same time. Under the 2011 fiscal budget, the White House has proposed tripling the loan guarantee program to $54 billion so that it can support seven to ten new nuclear reactors.