Just wonderful -- our masterminds crippling our economy
From
Reuters:
World Bank plans to limit financing of coal-fired power plants
The World Bank plans to limit the financing it provides for coal-fired power plants to "rare circumstances" as part of the global financial body's efforts to address the impact of climate change.
The move was detailed in a 39-page strategy document seen by Reuters. It came a day after U.S. President Barack Obama - as part of a sweeping package of climate measures - said that the United States would stop investing in coal projects overseas and called on multilateral banks to do the same.
"The World Bank Group will help clients identify alternatives to coal power as they make transitions toward sustainable energy," the report said.
The bank plans to cease providing financial support for new coal power generation projects, "except in rare circumstances where there are no feasible alternatives available to meet basic energy needs and other sources of financing are absent."
This will cause more deaths than can be imagined. Cheap plentiful energy is the one thing that raises life expectancies, increases overall health and boosts local economies. By denying countries this, they are condemning them to remaining a third-world hell-hole dependent on the World Bank for miserly handouts.
Of course, Russia and China are going to follow the World Bank's rules.
Believe that and I have a bridge to sell you...
Posted by DaveH at June 27, 2013 9:43 PM