Biden Halts Federal Aid to New Fossil Fuel Projects Overseas

[mahatmakanejeeves]

Source: Bloomberg Law

Politics

Biden Halts Federal Aid to New Fossil Fuel Projects Overseas

By Jennifer A Dlouhy and Nick Wadhams
December 10, 2021, 11:52 AM EST Updated on December 10, 2021, 1:26 PM EST

The Biden administration has ordered an immediate halt to new federal support for coal plants and other carbon-intensive projects overseas, a major policy shift designed to fight climate change and accelerate renewable energy worldwide.

The wide-ranging directive for the first time bars U.S. government backing for future carbon-intensive ventures, potentially affecting billions of dollars in annual funding as well as diplomatic and technical assistance. The move was detailed in a cable sent late last week to U.S. embassies and obtained by Bloomberg News.

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Read more: https://www.bloomberg.com/news/articles/2021-12-10/biden-halts-federal-aid-to-coal-oil-and-gas-projects-overseas

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The Biden administration has ordered an immediate halt to federal support for coal plants and other carbon-intensive projects overseas

Link to tweet

[LogicFirst]

1. Now, let's get rid of coal in the US.

[machoneman]

2. Good! This may be a move to thwart Manchin and bring his votes back in. Hope so!

[Bayard]

3. Biden righting wrongs again

[JohnSJ]

4. and while this is the right thing to do, the timing sucks, and I suspect will increase prices

and may hurt us in the polls