He bases his argument strictly on a business analysis. Note that Obama proposes over $36 billion--he wanted $54 billion but backed off--in loan guarantees to the nuclear industry. In 2003 the Congressional Budget Office (CBO) prepared cost estimates for loan guarantees of up to 50% for new nuclear power plants. The Director of the CBO wrote in 2010, "...At that that time [2003], CBO concluded the risk of default would be well above 50 percent...." See here