Who's Funding Global Warming?

[nosmokes]

boy,talk about the *usual suspects.* raise your hand if you're surprised by the cartel members.
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original-alternet

Who's Funding Global Warming?

By Tara Lohan, AlterNet
Posted on February 5, 2007, Printed on February 5, 2007

Wearing hats shaped like smokestacks and carrying signs that said, "Coal Investments Cook the Climate," a group known as Billionaires for Coal raised awareness last week about the plans by TXU, a Dallas-based utility company, to build 11-new pulverized coal-fired power plants in Texas.

The activists delivered suitcases of coal, but the recipient of their gift was not TXU and they were a long way from Texas. Instead, their action took place in New York's financial district where they visited the headquarters of Merrill Lynch -- a company that is putting coal and profits above human health and climate change.

Merrill Lynch is one of three major financial institutions, along with Morgan Stanley and Citigroup, that have agreed to arrange the needed $11 billion to finance TXU's plants.

It is widely known among scientists and regulators that coal-fired power plants are the most polluting form of electricity and right now, the world needs every opportunity it can to move away from the production of more greenhouse gas (GHG) emissions.

Some say the impetus is on the government to regulate GHG emissions; others put the responsibility on utility companies. But organizations like Rainforest Action Network (RAN) believe that banks that fund polluting projects like TXU also need to be held accountable.

The recent action by Billionaires for Coal in New York begs the question: What is the role of the global finance industry when it comes to climate change? It also highlights the ripple effect of global warming -- more coal plants in Texas will be everyone's problem -- including Wall Street's.
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complete article here

[damntexdem]

1. Oh, plenty of blame to go a long way around.

And we in North Texas will be breathing the emissions from those plants, if they're built, long before they destroy our ecosystem.