The US Will Spend Millions Bailing Out A Failed Uranium Enrichment Company It Created In The 90s

uranium

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The New York Times’ Matt Wald reports the Department of Energy will spend $88 million to acquire tons of uranium from a failed company the government created in the 1990s that was supposed to make advances in enrichment research.The amount could climb even higher if the administration gets Congress to approve a request for further aid, he reports.

Taxpayers will also own centrifuges built by the company, called the United States Enrichment Corporation, that were supposed to have led to greater technological efficiencies but which some say have already fallen behind, Wald writes.

“Under the new agreement, we will be able to move forward with this critical research, development and demonstration effort while ensuring strong protections for the American taxpayers,” the energy secretary, Steven Chu, said in a statement.

Read Matt Wald’s full story on NYTimes.com

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