World Bank and the US say no to loans for coal projects

[Shikica]

World Bank rejects energy industry notion that coal can cure poverty

Any thoughts on this? Now I know the argument is very straightforward - coal projects being started now are going to have long lasting mining expeditions and that could harm the environment as well as deplete a lot more of the worlds' fossil fuels.

Now from what this article says the decision it not based on environmental policy so much as it is based on the will of the United States. Is this the same stance that the United States is taking on environmental issues? I would have thought that the US would want the World Bank to issue MORE loans to developing countries not less.

Posted in the economic section because this is more about the world back rather than the coal industry, although knowledge of both is pretty meaningful in this topic

 

[ScienceRocks]

Wind, solar and natural gas is kicking its ass.

 

[Shikica]

Wind, solar and natural gas is kicking its ass.

Is coal in really poor shape? For instance do you think that the US thinks that countries taking loans on a coal contract would have no chance of even beginning to pay the interest on the loan?

 

[ScienceRocks]

Wind, solar and natural gas is kicking its ass.

Is coal in really poor shape? For instance do you think that the US thinks that countries taking loans on a coal contract would have no chance of even beginning to pay the interest on the loan?

Wind is cheaper then coal and natural gas has been replacing it all over this country...In a few years solar will also be cheaper...So no, they won't be able to compete.