During the campaign, Barack Obama promised to bankrupt any new coal-burning plants in the US through his global-warming policies. Congress has followed suit with a cap-and-trade bill that Harry Reid keeps promising to revive. One firm in Wisconsin shows exactly what happens when politicians intervene to attempt to conduct social engineering in the energy sector. Bucyrus just lost a $600 million project for a new coal-burning electricity plant in India, thanks to a decision by the Congressionally-funded US Export-Import Bank to deny the Wisconsin firm credit, based in part on Barack Obama’s policies:
Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.
About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana. Source
Obama is a hypocrite. Pumping billions into all the favorite scams, Corn Ethanol, Agrofuels, Clean Coal, Wind & Solar. Zip for the only realistic solution, which of course is Nuclear – both fission & fusion.
It’s easy to put up Wind Turbines and pretend that you’re green – but the truth is you aren’t. The carbon abatement cost of Wind is over $1000 per ton of CO2 avoided, vs Nuclear at $22 per ton.
Nuclear France has the lowest emissions of any industrialized country, 89 gm CO2 per kwh of power, vs Wind Energy Denmark at the highest level of 660 gm CO2 per kwh of power. While Solar & Wind in Germany at 602 gm CO2 per kwh of power.
To avert potential Climate Change & Peak Oil catastrophe (but these are scams) we need to install 1 GWe of clean energy per day for the next 20 yrs. Total Solar & Wind in the World 2008 is 40 Gwe avg output; 40 days supply, and that is totally reliant on fossil fuel energy for backup. Completely useless. A sick joke.