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The World Bank plans to restrict its financing of coal-fired power plants (KOL) to "rare...

The World Bank plans to restrict its financing of coal-fired power plants (KOL) to "rare circumstances," according to a draft strategy that reflects the U.S.-led lender’s increased focus on climate change. “To the extent that you’re preventing the world from using coal, you’re preventing the U.S. from creating jobs to mine it and export it," the National Mining Association responds.
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Comments (8)
  • wigit5
    , contributor
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    Coal names needed a little more blood eh?
    27 Jun 2013, 08:57 AM Reply Like
  • timetosave
    , contributor
    Comments (36) | Send Message
     
    The World Bank no longer funding coal plants? Oh well, plenty of foreign governments with deep pockets and deep coal mines to assist.
    27 Jun 2013, 09:02 AM Reply Like
  • wigit5
    , contributor
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    Wonder how many coal plants they helped fund to start with.. gonna poke around and see if I can find out.
    27 Jun 2013, 09:06 AM Reply Like
  • userwcSX
    , contributor
    Comments (51) | Send Message
     
    You'd know already if you listened to NPR, when the World Bank president was on the Diane Rehm show discussing this issue in depth. Anyway, it's not a large number of projects. This is a non-event except for the general move away from coal in all developed nations because NG is cheaper and solar is reaching parity and produces best during peak load periods.
    27 Jun 2013, 09:31 AM Reply Like
  • wigit5
    , contributor
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    Natural gas is only cheaper then coal in North America, the Germans were shutting down NG plants in favor of coal as recently as Q1 of this year if my memory isn't failing me.

     

    I do need to listen to NPR more even if I don't like it that much... hard to keep up with stuff these days though life is hectic enough as it is to add another medium of news to watch.
    27 Jun 2013, 10:00 AM Reply Like
  • userwcSX
    , contributor
    Comments (51) | Send Message
     
    @wigit5: is that true in the places where the WB is financing generation plants? Germany is not where they're financing these projects. Germany has plenty of coal reserves, like the US, China, Inda, and Russia. I don't know how true that is for Africa, where it's likely these projects are being proposed.
    27 Jun 2013, 12:18 PM Reply Like
  • wigit5
    , contributor
    Comments (4216) | Send Message
     
    Nat Gas prices in most other developed countries is north of 8$. Africa has coal reserves and they currently export it.

     

    Africa is also in the process of getting their natural gas fields developed but their infrastructure is much worse then the rest of the world so it will probably be expensive for at least 5 years until some of it gets built up.
    27 Jun 2013, 12:30 PM Reply Like
  • Ron Myers
    , contributor
    Comments (256) | Send Message
     
    If the reason Obuster is coming down so hard on coal is so that we can somehow stop EMs from getting the benefits of coal-fueled economic growth, allowing us to stay in the lead for a few more years, that would at least make some strategic sense except that I don't think there's any way it will work.
    27 Jun 2013, 09:26 AM Reply Like
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