Thorium Energy Independence and Security Act of 2008

Mr. President, I rise in support of the Small Business Energy Innovation Act, which I am introducing today to inspire Americans to invest in the technologies that will ultimately solve our energy crisis. As our country confronts the challenges of an economic crisis it is essential that the financial resources for our nation's energy entrepreneurs are sustained. This legislation will provide technical assistance and make financial resources available to ensure that energy innovators have greater access to capital to develop meritorious energy ideas.

One of the truly concerning aspects of the current financial situation is that loans to small businesses are becoming more difficult to obtain. One industry in particular, our clean energy sector, is working harder to find startup funds in order to help meet the challenges of greenhouse gas emissions, energy costs to consumers, and our reliance on foreign oil. At a recent speech in Atlanta, author Tom Friedman urged America to retake the lead in the world through innovation in ``ET''--Energy Technology. Friedman said the United States needs to ``invent a source of abundant, cheap, clean, reliable electrons.'' He compared the ``ET'' movement to the ``IT'', Information Technology, movement of the last decade. The author called on Washington to create the environment and the incentives to allow the ET movement to prosper.

As Ranking Member of the Small Business Committee, I have heard countless stories of small business success and how the Small Business Administration can facilitate the transition of a small business to a major company. Nowhere is this role more critical than in our renewable energy sector. Businesses and families are struggling with the inordinate costs of diesel, gasoline, electricity and home heating oil. Yet, we know that our country can do better. We must develop technologies that allow Americans to utilize clean energy from America's resources. Accordingly, my legislation would create a Director of Energy Innovation in the Small Business Administration who is entrusted with coordinating energy innovation at the SBA and ``promoting energy independence.''

In addition, the legislation provides grants of up to $200,000 for nonprofits to assist small businesses that are developing renewable energy systems, advanced energy efficiency systems, advanced transportation fuels, carbon capture and sequestration practices, advanced electrical generation, efficient end-use energy technologies, production facilities for fuel efficient vehicles, and pollution control equipment. These critical initiatives require expertise that is, in many cases, difficult for a small business to find. This provision will assist small businesses in bringing products to market.

The Small Business Energy Innovation Act creates in the Department of Energy a grant program of up to $250,000 for small businesses that are working to improve our energy security. When you consider the potential dividends of this investment, this critical seed money for energy innovators who are leading our energy revolution is a prudent investment. The potential rewards to our economy, our environment, and our national security are well worth this modest government expenditure.

Finally, this legislation develops a small business guaranteed loan program that is modeled after the loan guarantee program that was authorized in the 2005 Energy Bill. The current loan guarantee program is fostering the development of commercial scale innovative technologies for large companies, while this legislation will develop a corresponding small business loan program. Loan guarantees will enable the Department of Energy to share some of the financial risks of projects that employ new or significantly improved energy technologies that will move our country towards energy self-sufficiency.

I hope that this legislation, coupled with the America Competes Act, which I cosponsored last year, will bring about the research and entrepreneurship that our country requires to claim the lead in producing energy efficient products. I look forward to working with Chairman Bingaman of the Energy Committee and Chairman Kerry of the Small Business Committee and my other colleagues to pass this legislation and create a strong commitment to the energy innovators who possess the ideas that will facilitate the end to our reliance on foreign oil.

Mr. President, I rise today to recognize and honor Joseph A. Ryan, a former Postmaster from Las Vegas, NV. I urge my colleagues to support this legislation, which will designate the U.S. Post Office at 5070 Vegas Valley Drive in Las Vegas, NV, in his name.

Joseph ``Joe'' Ryan was born in St. Paul, Minnesota, on May 19, 1927. He attended the College of St. Thomas and the University of Minnesota, and went on to do post-graduate work at UCLA, Duke University, and the Wharton School of the University of Pennsylvania. During World War II, Mr. Ryan honorably served our country in the United States Coast Guard, and he later went on to work for Northwest Airlines before joining the United States Postal Service. Prior to serving as the Postmaster for Las Vegas, Mr. Ryan worked as the Postal Service's General Manager of Customer Programs for the Western Region.

Mr. Ryan was appointed Postmaster of Las Vegas in May of 1983 and retired in October of 1992. As Postmaster, Mr. Ryan was responsible for overseeing the many post offices in the Las Vegas valley. The 1980s and early 1990s was a time of tremendous growth in southern Nevada, and under his leadership, eight new post offices opened throughout the community, including the stunning main facility on Sunset Road. During his tenure, Joe was known for his exceptional dedication to customer service and was greatly admired by the

local Postal Service employees. His work as Las Vegas Postmaster was recognized in 1988 by the Direct Marketing Association, which awarded him the National Postmaster of the Year Award. In 1991, I was happy to join my friend and colleague Senator Richard Bryan in honoring Postmaster Ryan with the U.S. Senate Productivity Award.

Beyond his work with the Postal Service, Mr. Ryan has been an active member of the Las Vegas community and has given his time and efforts to improve this fast-growing city. He worked with the Nevada Development Authority, served on the board of the United Way of Southern Nevada, and was a member of the Las Vegas Chamber of Commerce Leadership Group.

Joe and his wife Pamelia have been married for over 50 years and have four children and three grandchildren. Mr. and Mrs. Ryan are especially proud that all four of their children are college graduates. Joe Ryan has served the Postal Service admirably and has contributed greatly to our community, so it is fitting that the Congress recognize his hard work by naming a post office in his honor.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

There being no ojbection, the text of the bill was ordered to be

Mr. President, today I rise to introduce the Thorium Energy Independence and Security Act of 2008, together with my dear friend and colleague Senator Harry Reid. This is a simple bill that would establish offices at the Nuclear Regulatory Commission and the Department of Energy to regulate domestic thorium nuclear power generation and oversee possible demonstrations of thorium nuclear fuel assemblies.

I am very much in favor of our Nation's nuclear power industry. It is an industry that has successfully relied on mixed oxide uranium fuel for decades, and I foresee a long future for nuclear power. I am particularly excited about the potential of thorium nuclear power as a new source of nuclear power in the future.

Thorium nuclear power has a number of potential benefits over conventional uranium. For one, it is much more abundant in the world and in the United States than uranium. Also, a thorium fuel rod would remain the reactor about three times as long as conventional nuclear fuel, thereby cutting the volume of spent nuclear fuel coming out of reactors by as much as two-thirds. Thorium nuclear fuel could also significantly reduce the possibility that weapons grade material would result from the process. Finally, a thorium fuel cycle can be used as a very effective and efficient means for disposing of existing plutonium stockpiles.

Our Nation has focused mostly on mixed oxide nuclear fuel cycles, and our regulatory structure reflects that. With the growing interest in thorium nuclear power in the world and in the United States, it is time we made sure our government has a regulatory infrastructure in place to accommodate this new generation of nuclear power.

Clearly, we are introducing this legislation late in the 110th Congress. We hope to raise awareness of the bill and generate feedback from interested parties. A number of governments throughout the world are aggressively seeking to establish thorium nuclear power as an element of their power supply. These governments want the benefits of nuclear power, without the difficulties associated with large volumes of waste, much of which can be turned to weapons grade material. Our aim with this legislation is to ensure that the United States does not fall behind the movement. I hope my colleagues will take a look at the potential for thorium power.

Mr. President, today I rise to introduce the Thorium Energy Independence and Security Act of 2008, together with my dear friend and colleague Senator Harry Reid. This is a simple bill that would establish offices at the Nuclear Regulatory Commission and the Department of Energy to regulate domestic thorium nuclear power generation and oversee possible demonstrations of thorium nuclear fuel assemblies.

I am very much in favor of our Nation's nuclear power industry. It is an industry that has successfully relied on mixed oxide uranium fuel for decades, and I foresee a long future for nuclear power. I am particularly excited about the potential of thorium nuclear power as a new source of nuclear power in the future.

Thorium nuclear power has a number of potential benefits over conventional uranium. For one, it is much more abundant in the world and in the United States than uranium. Also, a thorium fuel rod would remain the reactor about three times as long as conventional nuclear fuel, thereby cutting the volume of spent nuclear fuel coming out of reactors by as much as two-thirds. Thorium nuclear fuel could also significantly reduce the possibility that weapons grade material would result from the process. Finally, a thorium fuel cycle can be used as a very effective and efficient means for disposing of existing plutonium stockpiles.

Our Nation has focused mostly on mixed oxide nuclear fuel cycles, and our regulatory structure reflects that. With the growing interest in thorium nuclear power in the world and in the United States, it is time we made sure our government has a regulatory infrastructure in place to accommodate this new generation of nuclear power.

Clearly, we are introducing this legislation late in the 110th Congress. We hope to raise awareness of the bill and generate feedback from interested parties. A number of governments throughout the world are aggressively seeking to establish thorium nuclear power as an element of their power supply. These governments want the benefits of nuclear power, without the difficulties associated with large volumes of waste, much of which can be turned to weapons grade material. Our aim with this legislation is to ensure that the United States does not fall behind the movement. I hope my colleagues will take a look at the potential for thorium power.