World Bank - Coal Power financing

[Shannow]

http://www.powerengineeringint.com/artic...ired-power.html

Quote:
The World Bank has agreed to limit financing of coal-fired power plants to “rare circumstances” as part of a new energy strategy aimed at tackling climate change.

The Washington-based global development institution said in its "Energy Sector Directions Paper," updated every 10 years, that it will amend its lending policies for new coal-fired power projects, restricting financial support to countries that have "no feasible alternatives" to coal, as it seeks to balance environmental efforts with the energy needs of poor countries.


Should read "Confessions of an Economic Hit-Man" to see how the shakedown of recipients has/does work.

 

[A_Harman]

Meanwhile China is opening up a new coal-fired power plant every two weeks. I don't think they're very worried about what the World Bank thinks about it.

 

[Shannow]

They aren't...world bank is about serfdom rather than liberation.

 

[SwampSurvivor]

Originally Posted By: Shannow
They aren't...world bank is about serfdom rather than liberation.


Yup!

 

[SteveSRT8]

Originally Posted By: A_Harman
Meanwhile China is opening up a new coal-fired power plant every two weeks. I don't think they're very worried about what the World Bank thinks about it.


The World Bank has a 'relevancy issue'. They imagine they have real influence.

 

[kschachn]

Meanwhile some poor nations that have coal resources are suffering because the World Bank thinks they need to be the thought police on what energy is "good" and what is "bad".

Originally Posted By: A_Harman
Meanwhile China is opening up a new coal-fired power plant every two weeks. I don't think they're very worried about what the World Bank thinks about it.

 

[rshaw125]

The world Bank and the IMF need to be dissolved. All US involvement needs to end.

 

[A_Harman]

^^^That.^^^

 

[SteveSRT8]

Originally Posted By: rshaw125
The world Bank and the IMF need to be dissolved. All US involvement needs to end.


Great idea.

Both the UN and the WB are practically funded by us alone. We should leave ASAP.

Get our own house in order first.

 

[Shannow]

Expect the Industrial complex to be dead against that, as part of the "deal" with the funding is who gets the contracts to build...think of it as a job creation project.

 

[PandaBear]

I'm sure the conspiracy theorist would say it is a squeeze by the Europe and US to move into natural gas based power plants, and China being the only one having money and buying coal for power in large amount, would like to see the rest of the world's coal production selling only to them, and would gladly work with the WB on this.

For these "poorer nations", their coal would be only worth 1. selling to China, 2. paying China high interest rate to build power plant for their own consumption, 3. pay US and Europe a lot more to burn natural gas.