“This bipartisan bill would require DOE to maximize the value of the public’s stockpile of excess uranium. Our bill would also require that DOE give the American public a say in how it will manage this excess uranium.”
WASHINGTON, D.C.— U.S. Senator John Barrasso (R-WY) delivered the following remarks at today’s Senate Energy and Natural Resources Committee hearing on energy accountability and reform legislation. The Committee considered Barrasso’s bipartisan Excess Uranium Transparency and Accountability Act (S. 1428), among other bills. Barrasso introduced S. 1428 with Senator Edward J. Markey (D-MA) in May. The bill will bring transparency and accountability to the process by which the Department of Energy (DOE) disposes of the American public’s stockpile of excess uranium.
Excerpts of Senator Barrasso’s remarks:
“Thank you very much Madam Chairman. Thank you for holding today’s hearing.
“I’m encouraged that the Committee is actually looking to increase transparency and accountability at the Department of Energy.
“We need transparency and accountability—especially with respect to the Department of Energy’s management of the public’s stockpile of excess uranium.
“Since 2009, the Department has repeatedly violated its own written policy and the federal law when managing the public’s excess uranium.
“As a result, the Department of Energy has failed to obtain a fair return on this uranium for American taxpayers.
“For example, the Government Accountability Office found that the Department of Energy’s transfers of excess uranium in 2012 may have cost taxpayers up to $195 million.
“Now the Department of Energy’s mismanagement has also contributed to volatility in the uranium market and has led to job losses in states like my home state of Wyoming.
“In April, we learned that employment among U.S. uranium producers fell by 32 percent between 2013 and 2014.
“Employment among U.S. uranium producers is now at the lowest level since 2006.
“Now there’s a third reason why we need transparency and accountability with respect to the Department of Energy’s management of excess uranium.
“Specifically—the decision by two principal beneficiaries of the Department of Energy’s excess uranium to hire Daniel Poneman, former Deputy Secretary of Energy.
“I’m referring to the Traxys Group, which appointed Mr. Poneman to its Board of Directors in December 2014; and Centrus Energy Corporation—formerly known as USEC—which appointed Mr. Poneman as President and CEO in March of this year.
“I am deeply troubled by the decision of these private companies to hire Mr. Poneman.
“Mr. Poneman led the Department of Energy when the agency violated federal law with respect to excess uranium transactions which benefitted specifically these two companies.
“Last month, I—along with Senators Markey, Cornyn, and Heinrich, introduced S. 1428—you talk about a bipartisan group, that’s it. The Excess Uranium Transparency and Accountability Act.
“This bipartisan bill would require DOE to maximize the value of the public’s stockpile of excess uranium.
“Our bill would also require that DOE give the American public a say in how it will manage this excess uranium.
“Finally, the bill would codify the Department of Energy’s recent announcement that it will not transfer more than 2,100 metric tons of uranium in calendar year 2016 ‘and thereafter.’
“These are common sense reforms that will help Department fulfill its legal obligations going forward.
“These reforms will ensure the Department manages our excess uranium on behalf of the American public—not two private corporations which the Department of Energy favors.
“So I encourage all Committee members to support the bill.”
Background:
The Excess Uranium Transparency and Accountability Act (S. 1428) was introduced by Senator Barrasso and Senator Edward J. Markey (D-MA) on May 21, 2015 and is co-sponsored by Senators John Cornyn (R-TX) and Martin Heinrich (D-NM).
The Excess Uranium Transparency and Accountability Act would bring transparency and accountability to the process by which the Department of Energy (DOE) disposes of its excess uranium inventory. Specifically, the bill would:
(1) require the Secretary of Energy to issue an updated ten-year Excess Uranium
Inventory Management Plan for 2017 to 2026 (and every ten years thereafter) pursuant to the rulemaking process;
(2) subject future Secretarial Determinations (whereby the Secretary determines
whether excess uranium transfers will have an adverse material impact on the U.S. uranium mining, conversion, and enrichment industries) to the rulemaking process;
(3) establish an annual cap on DOE’s excess uranium transfers of 2,100 metric tons of uranium (MTU) (5.487 million pounds) for calendar years 2016 through 2023 and 2,700 MTU (7.06 million pounds) for calendar year 2024 and each year thereafter.
On May 1, 2015, Secretary Moniz authorized excess uranium transfers in the amount of 2,100 MTU per year in calendar year 2016 “and thereafter.” The authorization expires on May 1, 2017.
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