Sunday, June 27, 2010

Useless Environmental Action Could Cost 1,000 American Jobs

There is a price to pay for engaging in silly environmental crusades. 

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.

About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana.

On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.

[...]

The plant is under construction in Sasan, central India, and is scheduled to be up and running in 2012. Coal mining will take place for the plant whether it’s done with Bucyrus machines or equipment from China and Belarus, Sullivan said.

“Unless the Obama administration jumps all over this and corrects a wrong fairly quickly, I am confident this business is going elsewhere,” Sullivan told the Journal Sentinel on Saturday.

“The bank’s decision has had no impact on global carbon emissions but has cost the U.S. nearly 1,000 jobs,” he added.

(13) Comments
Posted by Owen at 0744 hrs
Economy + Foreign Affairs + Politics + Politics - General

  1. So now it looks like the Obummer administration will have three categories of jobs:

    1. Jobs created
    2. Jobs saved
    3. Jobs sacrificed to Gaia

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 0803 hrs


  2. Obama’s remedy=more stimulus money for these lost jobs.

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 0901 hrs


  3. The more you see, the more Rush is right.

    They want chaos. They want unemployment.  They want the US to crash.

    Posted by dad29 on June 27, 2010 at 1024 hrs


  4. This is the beauty of our democratic congressional contingent and Doyle.  They support the Obama and Pelosi agenda to the bitter end yet never receive any, ahem, benefits for the State of Wisconsin. 

    Or at least really meaningful benefits.  You’d think that as one of the more loyal blue States out there would get a lot more federal dollars than we do.  But we don’t. 

    So if the good people of Wisconsin want to keep electing dems, perhaps this next round they can elect ones who can bring home the bacon like Robert Byrd and Richie Daley.

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 1325 hrs


  5. People who work don’t vote for Obama anyway.

    People who throw money at every enviro crusade they can think of - definitely an Obama voter.

    Just keeping the important people happy I guess.

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 1343 hrs


  6. I work and I vote for Obama, Bill.  Sorry to ruin your pathetic worldview of Democrats.  Grow up.

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 1418 hrs


  7. So just curious VA, why did you vote for him? Jobs? Economy? Enviro issues? Racism? Peace on earth? Can anyone tell me a positive outcome from this presidency? I am being serious here. I think that we all become closed into our mindsets and miss important things because we tend to trend away from certain ideas. I would like to know of an actual positive outcome of this presidency. I am not looking for some amorphic feel good trend that we are on but a hard and fast concrete result of a desision by Obama that benefits the United States of America and the citizens herein. I will be out of the loop for the next couple days but look forward to seeing something, anything positive that this man has done.

    Posted by fishaddict on June 27, 2010 at 1443 hrs


  8. The more you see, the more Rush is right.

    They want chaos. They want unemployment.  They want the US to crash.

    Just wondering…..........Who is “They” and why would “They” want the US to crash??

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 1612 hrs


  9. Isn’t Obama coming to Racine this week to campaign for Fiengold.  What a great opportunity for Obama and Feingold to come on their white horse and save the day by approving the loan.

    Posted by .(JavaScript must be enabled to view this email address) on June 27, 2010 at 1740 hrs


  10. “They” are the people who are actively taking the country into bankruptcy.  The ones who usurp the 5th Amendment—ignoring GM bondholders.  The ones who are attempting (again) to quash the 1st Amendment.  The ones who chose to golf rather than move with alacrity to skim oil (or burn it) from the surface of the Gulf.  The ones who create uncertainty in businessmen by making arbitrary political decisions, resulting in businessmen pulling in their horns and extending the recession.

    Get the picture yet?

    Posted by dad29 on June 27, 2010 at 2035 hrs


  11. Get the picture yet?

    Not quite yet…...........Thanks for defining who they are, but I’m still looking for the answer to why they want the US to crash??  What would be the upside for “them” to have that happen?

    Posted by .(JavaScript must be enabled to view this email address) on June 28, 2010 at 0557 hrs


  12. Get the picture yet?

    Not quite yet…...........Thanks for defining who they are, but I’m still looking for the answer to why they want the US to crash??  What would be the upside for “them” to have that happen?

    Dad???

    Posted by .(JavaScript must be enabled to view this email address) on June 29, 2010 at 1407 hrs


  13. The more you see, the more Rush is right.

    They want chaos. They want unemployment.  They want the US to crash.

    It’s amazing how people have the ability to regurgitate what they hear but have absolutely no ability to support the puke that comes out of their mouths.

    Posted by .(JavaScript must be enabled to view this email address) on June 30, 2010 at 0557 hrs


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