U.S. Senator Ed Markey (D-MA)A new GAO report, requested by U.S. Senator Edward J. Markey (D-Mass., photo left) and U.S. Rep. Michael Burgess (R-Texas), finds that the shuttered U.S. Enrichment Corporation (USEC) facility received hundreds of millions of dollars worth of uranium, while ignoring laws and losing taxpayer money.
The report details a pattern of actions by DOE that kept USEC’s facility in Paducah, Kentucky open and subsidized the development of questionable centrifuge technology at its Ohio facility, even as the company was rated as junk bond status, threatened with de-listing from the New York Stock Exchange, and ultimately spiraled into bankruptcy.
USEC was seeking a $2 billion federal taxpayer-backed loan guarantee for its American Centrifuge uranium enrichment plant in Portsmouth (Piketon), Ohio, but the deal fell apart amidst USEC's financial "meltdown," as well as due to technical difficulties with the technology's development.
“Our government has kept this uranium company on life support, wasting money and flouting the law, even though it was clear that it would end up in bankruptcy. This is the kind of government waste that Americans just don’t understand,” said Senator Markey, who is a member of the Environment and Public Works Committee. “It’s time to commit this junk technology to the junk bin.”
Some of the uranium involved is associated with supplying replacement tritium for U.S. nuclear weapons.
Sen. Markey has issued a press release, including a summary, and a link to the full 112-page GAO report.