[Guest post by DRJ]
From Enoch Root at POWIP, a mining company planning to hire more people in Wisconsin lost loan guarantees because of Obama Administration environmental concerns:
“Local concern, Bucyrus, has victory snatched from the jaws of … erm.. victory.
Inside sources report that having been centimeters away from receiving a loan from bank in the amount of 350 Million Dollar (citation needed), bank (having received Federal money) is pressured to kill off loan by Obama Administration (opposed to any carbon-based jobs) – bank capitulates – deal falls through.
The government never gives our money away for free – unless it’s to its own government employee or unions’ base.”
It appears there is confirmation from Rep. Paul Ryan at POWIP’s link, and this:
“Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.
The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.
“President Obama has made clear his administration’s commitment to transition away from high-carbon investments and toward a cleaner-energy future,” Export-Import Bank Chairman Fred Hochberg said in a statement. “After careful deliberation, the Export-Import Bank board voted not to proceed with this project because of the projected adverse environmental impact.”
The bank’s decision is puzzling, Sullivan said, because the power plant will meet international standards and the bank’s environmental criteria.”
Congratulations, Illinois, Indiana, Minnesota, and Wisconsin. You’ve been Obamaed.