Obama And Climate Change Costs 1000 Jobs In Milwaukee

From jsonline: "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....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 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.""
Here we are, in a horrible economy, and yet in the name of climate change in India, 1000 or more of good paying jobs will be lost in Milwaukee.
This is political correctness run amok. This is Harry Reid's dream. This is the Democrats dream.
But it gets worse: "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." http://www.jsonline.com/business/97225544.html
The plant is still going to be built and there will still be coal mining. So, the only thing that will change is that Americans will lose their jobs.
Thank you, President Obama. Hope and Change