You know how President Obama is always talking about ending subsidies for oil. Notice how he usually doesn’t talk about coal (even when he’s talking about electricity, which we do get from coal and not from oil)?
I noticed this a year ago, after Obama’s stimulus included a billion dollar earmark for big coal. The man is from Illinois, after all.
Well, the Export-Import Bank of the United States — technically an independent agency, but with a board appointed by Obama — just approved a massive subsidy for a coal plant in South Africa. From Bloomberg:
Yes, U.S. greens are not happy about all these carbon emissions they’ll be paying for. But the U.S. business profiting from this subsidy also caught my eye. You might have missed this story:
I know it’s cliched, but just imagine if this had happened under George W. Bush.
