Posted on 06/27/2010 9:41:31 AM PDT by C19fan
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.
On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.
The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.
(Excerpt) Read more at jsonline.com ...
PetroBras has been loaned 2 billions dollars by Zero, and coincidentally, it is a heavy investment for Soros too.....thanks to the Glenn Beck show for that info. I believe Soros has or had a 900 million dollar share of Petro Brasil.
Not to worry, if the employment numbers start to fall faster we can just have another census next year.
Why wait till next year. Bus them to do oil spill cleanup.
I am seriously so sick of these idiots!!!!!!!
I am seriously so sick of these idiots!!!!!!!
There is no such thing as Greenhouse Gasses so this is simply punishment for not worshipping their cult.
http://www.brayincandy.com/id206.html
Pray for America
"President Obama has made clear his administration's commitment to transition away from high-carbon investments and toward a cleaner-energy future," Export-Import Bank Chairman Fred Hochberg said in a statement. "After careful deliberation, the Export-Import Bank board voted not to proceed with this project because of the projected adverse environmental impact."
The bank's decision is puzzling, Sullivan said, because the power plant will meet international standards and the bank's environmental criteria.
The plant is under construction in Sasan, central India, and is scheduled to be up and running in 2012. Coal mining will take place for the plant whether it's done with Bucyrus machines or equipment from China and Belarus, Sullivan said.
"Unless the Obama administration jumps all over this and corrects a wrong fairly quickly, I am confident this business is going elsewhere," Sullivan told the Journal Sentinel on Saturday.
"The bank's decision has had no impact on global carbon emissions but has cost the U.S. nearly 1,000 jobs," he added.
That's the intent Mr. Sullivan. That's the intent.
Wonder why they’re not doing that now, we have plenty of space where they can frolic through the weeds, brush, brambles and forest for their food, there are even wild veggies that grow underground.
Line up for your share of the Dole, that is, if you vote properly...
What? No Unicorns?
Anyone want to hazard a guess that Senator Feingold will still vote for Cap and Tax that will end up costing us not just thousands but millions of jobs? Might as well spread the misery around...
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