Reducing Livability: How Sustainability Planning Threatens the American Dream
Kerry ‘Amazed’ That Some Americans Still Don’t Grasp Urgency of Global Warming
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Posted on 10/29/2013 2:44:00 PM PDT by jazusamo
The Obama administration on Tuesday said it will seek to discourage the construction of coal plants in foreign countries through the World Bank and other multilateral development institutions.
The effort marks the latest step in President Obama’s initiative to combat the effects of global warming through executive power in lieu of action from the divided Congress.
Under the new policy, the U.S. government will oppose public financing for coal projects in all but the world's poorest countries unless they meet standards on par with tough new proposed regulations for any new coal plants in the United States.
Opponents of the domestic regulation say those rules would preclude any new coal plants from being built in the U.S. because the necessary carbon capture and sequestration (CCS) technology is not yet available.
In insisting that the standards apply to overseas coal projects that get public assistance from multilateral development banks (MDB), the U.S. is effectively doubling down on the regulations.
“As developing economies embark on a journey towards a clean energy future, today’s announcement marks an important step in helping them reach this goal,” said Lael Brainard, the Treasury Department’s under secretary for international affairs.
“By encouraging the use of clean energy in multilateral development bank projects, we are furthering the U.S. efforts to address the urgent challenges of climate change,” she said.
Previously, the U.S. was already predisposed to oppose coal projects via its votes on the World Bank and other MDBs that provide financing for projects in developing countries.
The new policy further limits the exceptions to that position.
Under the new guidance, the U.S. would only support a coal project in the poorest nations — and only then if it uses best available technology, there are no cost effective alternatives and it is critical to development of the country in question.
The United State does not have sufficient voting share to block a project on its own, but the government could seek to build coalitions with likeminded nations to stop the flow of funding to coal projects that don’t meet the stringent requirements, the official said.
While the policy only applies to public financing, the administration believes it would act as an economic disincentive for any projects that do not meet the standards, particularly those that rely on a combination of public and private dollars.
"We believe that if public financing points the way, it will then facilitate private investment,” Brainard said.
“...to fight global warming...” Ugh???? There is NO global warming!
FYI
“Does anyone think that a world leader will act against the best interests of their country?”
It appears from the article obama wants to use the US voting share to block a projects funding, however the US alone cannot do this and needs to build a coalition to stop funding coal projects in other countries.
Considering obama is respected by practically no world leader, is the worlds laughing stock, and now caught spying on allies, I really don’t see what nation would back this guy on anything.
I’m not sure that people in other developed countries are very enthused about being broke, cold, and in the dark, either. It is going to be a very cold winter in Europe, for example - and very, very cold for the parties in power in Great Britain and France.
“The revolution will not be televised”* will take on an entirely new source and meaning that the original poet would not have ever imagined.
*It won’t be televised because they definitely won’t show it on the news.
coal nor oil are not dirty as the media say. if they were dirty then they wouldn't have had to invent the global warming hoax to demonize coal and oil(capitalism).
so Obama is shutting down coal power plants for a hoax called global warming.
The media , government and gov funded scientists have been screeching “global warming” for 30 years. so where is the warming? there is none , it's going to be a brutally cold winter(check the solar cycle). global warming is a hoax. this shows that government and the media are malignant cancers.
Nah, everybody knows that it is powered by rainbows, unicorn farts and skittles.
Reducing Livability: How Sustainability Planning Threatens the American Dream
Kerry ‘Amazed’ That Some Americans Still Don’t Grasp Urgency of Global Warming
Global Warming on Free Republic
China needs to call Zero and explain that his overdrawn bank account might be called in if he doesn’t stop with his anti energy craziness
This will almost certainly lead to a global influence shift from the U.S. to China as the latter kindly offers to step in with financial assistance for power projects.
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