Writing in the February 17th Los Angeles Times, Jim Tankersley and Michael Muskal report:

Seeking common ground with Republicans on energy and climate issues, President Obama on Tuesday pledged $8 billion in loan guarantees needed to build the first U.S. nuclear reactors in nearly three decades.

Industry groups and Republican leaders praised the announcement, which has been expected for months, but some environmentalists and free-market think tanks protested.

It is welcome that Tankersley and Muskal note that free-market think tanks have reservations about the loan guarantees, but when detailing those objections this is all LAT readers get:

Free-market groups complained that the loan guarantees could leave taxpayers on the hook for projects too risky for the private sector to finance.

The conservative critique of President Obama’s approach to nuclear energy goes much deeper than that. Heritage Foundation fellow Jack Spencer explains:

Expansive loan guarantee programs, however, are wrought with problems. At a minimum, they create taxpayer liabilities, give recipients preferential treatment and distort capital markets. Further, depending on how they are structured, they can remove incentives to decrease costs, stifle innovation, suppress private-sector financing solutions, perpetuate regulatory inefficiency and encourage government dependence.