Congressional Update NEI Washington International Reps Meeting January

Congressional Update NEI Washington International Reps Meeting January 9, 2014 Hon. Bill Foster U. S. Congressman (IL-11)

One of two Physicists in Congress One of 108 Members of Congress with a business background

Bill Foster’s Business Career: Electronic Theatre Controls, Inc. • Co-founded 1974 with brother Fred Foster – Bill was 19, Fred 17 – Initial Capitalization: $500 from our parents. • ETC now manufactures ~70% of all Theatre Lighting Equipment in U. S. – $150 M+ sales/year – 650+ Employees – Fred runs business (Bill bought out in 2007)

Electronic Theatre Controls, Inc. ~1974 -1980

Electronic Theatre Controls, Inc. Today 650+ Employees in Middleton, WI

Fermilab’s Accelerators Past, Present, and Future Dr. G. William Foster November 8, 2002

Bill at Fermilab 1984 - 2006

Collider Detector at Fermilab (CDF) 1984 - 2005

CDF Detector Discovered Top Quark

Particle Accelerators 1994 -2006

Antiproton Recycler Ring Fermilab Main Injector

• Bill Got Married, • Raised a Family, • Had a reasonably interesting career in Physics & Business. So: why go into politics? A: The Familial Recessive Gene for Adult-Onset Political Activism

Bill’s Mother and Father Jeanette Raymond and George William Foster Met on Capitol Hill ~1950 Bill’s Mom worked for Sen. Paul Douglas (D-IL)

11 th District of Illinois

March 8, 2008

Swearing-In Ceremony – March 11, 2008

Congressional Ball - 2008

What Life as a Congressman is Really Like • Scheduled 12 Hours each day • Read myself to sleep each night with a ¾” stack of papers… • Live in a Crummy Efficiency Apartment in DC • After last votes on Friday, come back home each weekend (where I get scheduled up by the staff in the Illinois District Office…)

“Congress on Your Corner”

So, why does anyone take this job? Voting Machine in the U. S. House of Representatives

Benefits of Nuclear Energy • Reduction of carbon emissions is an important part of future climate protection • 62. 45% of clean energy generation in the US is nuclear • Nuclear energy provides 20% of United States energy • Nuclear energy is reliable power, available 24/7 Source: Exelon Source: IAEA

Challenges to Nuclear • Natural gas prices have dropped due to large domestic reserves from shale formations • Surplus supply of electricity leads to periodically negative electrical prices • Nuclear reactors provide constant energy – cannot shut off • Four reactors permanently closed in 2013, with another projected to close by the end of 2014 • Nuclear power can become economically viable in the future if a carbon tax or a “cap-and-trade” system is imposed Source: NEI Frequency of negative prices increasing with increased wind generation

Current Activities in Nuclear Energy • $21. 5 M FY 2014 request for Nuclear Energy's Light Water Reactor Sustainability (LWRS) – DOE R&D program to extend operating life of current nuclear power plants • DOE $8 billion loan guarantee program for construction and operation of new reactors at Vogtle – 2 new nuclear reactors projected to open ~2017 -2018 • Investment in university R&D for new and advanced technology Vogtle – August 2013 Source: Georgia Power Co – NEUP and IUP (Dept. of Energy) has awarded $290 M to 89 schools since FY 09 • 5600 MW new nuclear energy capacity online by 2018 – 5 new nuclear reactors (including Vogtle) online by 2018 • DOE granted $450 million to Babcock & Wilcox and Nu. Scale for SMR commercialization • New EPA regulations on carbon emissions may be beneficial to Nuclear Source: DOE

On-Going R&D DOE Emphasis: Small Modular Reactors (SMRs) – Examples: Nu. Scale, m. Power, PRISM, Westinghouse, Travelling Wave, etc Many different reactor types being researched: • • High-Temperature Gas-Cooled Reactor (HTGC) Fluoride salt-cooled high-temperature reactors (FHR) Sodium-cooled Fast Reactor (SFR) Lead-Cooled Fast Reactor (LFR) Very-High-Temperature Reactor (VHTR) Molten Salt Reactor (MSR) Supercritical-Water-Cooled Reactor (SCWR) Gen III+ Light Water Reactor Source: GE Source: Nu. Scale Source: B&W

Financial Services Committee

BANK FAILURES AND SUSPENSIONS 1864 -2009

Recent U. S. Economic History • 1992 -2000 – Strong Economic and jobs growth – Paying down debt (- $200 B/yr) • 2001 -2008 – Deregulation, job stagnation and collapse – Explosion of Federal Deficit ( $1, 200 B/yr) • 2009 -2013 – Reversal of Collapse and Gradual Recovery – Halving of Federal Deficit ( $600 M/yr)

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