U.S. Will Not Provide Financing For New International Coal-Fired Power Plants

Dorianny writes "The Treasury Department declared it would no longer support any new coal-fired power plants around the world. By leading a coalition of like-minded countries including several European ones that have already announced similar intentions, they will effectively be able to block the World Bank and other international development banks from providing financing for new coal-fired plants. The policy is unlikely to amount to any real change as 75 percent of proposed coal-powered plants are in China and India, which do not rely on outside financing. It seems to me that the poorest, most underdeveloped nations that contribute the least to global emissions are the ones getting the short end of the stick from this policy."

Comments

Re:FTFY

[microbox]

Wind Power is not cheaper than coal power. Since the wind doesn't blow all the time either storage or alternative generation is required.

Thank God Almighty that we have engineers to understand these problems, and not just armchair philosophers.