Now the US is bullying other countries into not building coal power plants. Can’t they have cheap electricity first? I quite liked this exception:
The U.S. Treasury said it would only support funding for coal plants in the world’s poorest countries if they have no other efficient or economical alternative for their energy needs.
Because of course the world’s poorest countries would choose higher cost energy production on their own, first. Unbelievable. I now believe that the Commander in Speech, like his faithful have promised, has parted the oceans. Just not in the way they think.
Classic baptists and bootleggers. Established energy producers are likely to be thrilled, new competition is prevented foreign from entering the market.
“Because of course the world’s poorest countries would choose higher cost energy production on their own, first.”
Given 1. the huge number of sub-optimal decisions that even developed governments make, 2. the long track record that developing countries have of letting corruption drive their long-term planning, isn’t it actually quite plausible that some of them would choose coal even when it’s not the cheapest option?
well, most of their citizens are choosing wood and peat on their own, because it is cheap. And again the answer to this question presumes that it is the governments themselves choosing …
“isn’t it actually quite plausible that some of them would choose coal even when it’s not the cheapest option?”
–> well, then isn’t it equally plausible that what “we” are selling them is not exactly in anyone’s best interest either?
And who is the present Treasury Secretary? The pinstriped Jack Lew, a professional liberal spin doctor who toes the (misinformed, in my opinion) the line for the view that coal should stay in the ground not because burning it might give off particles and chemicals that scrubbers can remove, but rather because all carbon energy is bad in the view of his boss’s political friends.
Therefore, we withdraw funds, which are not the property of Jack Lew in the first place, to lend/give to third world countries to build coal-fired power plants.
This raises the question of the merits of whether we should be in the business of financing power plants, even if they are fueled with pixie dust or hundred-dollar bills, for any other government, but I digress.
We hope that the Secretary is as circumspect with the rest of his discretionary spending decisions by not sending a dime to our sworn enemies.