It seems that Obama’s policies are set to send over a thousand American jobs overseas.
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 million in coal?power plant company, effectively wiping out about $600 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.“(Emphasis mine)
The bank’s decision is puzzling, Sullivan said, because the power plant will meet international standards and the bank’s environmental criteria.
So, it doesn’t take a rocket scientist to realize that this was purely a political decision. That, and they are playing political games with the jobs of over a thousand Americans.
Additionally, taking Bucyrus out of the equation does not stop the mine project. Later in the linked article, it was said that the work will likely go to China or Belarus. Let’s be honest here, it isn’t like China has had the best record for mine safety as of late. While I can’t speak regarding Belarus, I think it’s safe to say that an experienced American company would create a better quality, and therefore safer, product.
I also read that the workers at Bucyrus are represented by the United Steelworkers of America. I’m not going to gloat over these people potentially losing their jobs. They are rank and file, and probably didn’t have a choice about being “represented” by the union. I do wonder if they voted for Obama, and if they did, if they are having some “buyers remorse?”
Elections have consequences.
H/T: Hot Air
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Matt
I believe that future generations should have the same opportunities that myself, and those that came before me, had. My parents taught me that I could do anything I wanted to do. I don’t want to have to tell my daughter, “You can do whatever the government tells you to do.” We are at a crossroads in this country; are we going to be free, or are we going to be slaves to the nanny state. I choose freedom.
Excellent Post! And, great pic! Obama’s environmental policies are killing jobs even before Cap & Trade. Big government is killing jobs and ruining the economy. We must replace these commies with limited government conservatives in November.
You said it Teresa. Just imagine the jobs they’ll kill with Cap and Trade. Cap and Trade just isn’t Cloward-Piven, it’s a weapon of mass economic destruction.
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You are right, this is purely politically motivated. And I thought saving the earth was supposed to create jobs!?
It’ll do neither. This won’t stopped the coal from being mined. It’ll just kill jobs, just like its supposed to.
“I do wonder if they voted for Obama, and if they did, if they are having some “buyers remorse?””
Probably and i’m sure they’re regretting voting for him, but i guarantee, not for long. One thing i’ve seen with liberal idiots is that they get frightened when they see life under their leftist masters but as soon as said master changes and waffles the usual i’m-for-the-worker, gaseous platitudes, the liberal idiots are right back voting for the new leftist.
They won’t learn.
I hope you’re wrong MK, but I fear that you’re right.