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posted by Fnord666 on Saturday February 04 2017, @12:42AM   Printer-friendly
from the rolling-coal dept.

Remember when Bank of America promised to stop financing coal mining? They weren't the only ones getting cold feet about this formerly dominant energy source. Now The Guardian is reporting that Deutsche Bank is committing to end financing of new coal mining and new coal-fired power plant construction.

This pledge is being made, says the bank, to back up its commitment to supporting the Paris Climate Deal. But it is also, most likely, a very prudent investment decision. With India phasing out new coal plant construction years earlier than recommended, China reducing its pipeline too, and huge utilities and whole countries alike saying they are pretty much done with coal, it's getting increasingly hard to see where the future for this industry lies.

It seems the age of fossil fuels may be drawing to a close.


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  • (Score: 4, Informative) by Bobs on Saturday February 04 2017, @01:07PM

    by Bobs (1462) on Saturday February 04 2017, @01:07PM (#462830)

    Talk about lies and propoganda: that quote that he claims was about Trump promising renewable energy jobs to coal miners was actually from a speech by Hillary Clinton.

    Excerpt of Hillary Clinton's speech to coal miners, from the link:

    "Look, we have serious economic problems in many parts of our country. And Roland is absolutely right. Instead of dividing people the way Donald Trump does, let's reunite around policies that will bring jobs and opportunities to all these underserved poor communities.

    So for example, I'm the only candidate which has a policy about how to bring economic opportunity using clean renewable energy as the key into coal country. Because we're going to put a lot of coal miners and coal companies out of business, right?

    And we're going to make it clear that we don't want to forget those people. Those people labored in those mines for generations, losing their health, often losing their lives to turn on our lights and power our factories.

    Now we've got to move away from coal and all the other fossil fuels, but I don't want to move away from the people who did the best they could to produce the energy that we relied on.

    So whether it's coal country or Indian country or poor urban areas, there is a lot of poverty in America. We have gone backwards. We were moving in the right direction. In the '90s, more people were lifted out of poverty than any time in recent history.

    Because of the terrible economic policies of the Bush administration, President Obama was left with the worst financial crisis since the Great Depression, and people fell back into poverty because they lost jobs, they lost homes, they lost opportunities, and hope.

    So I am passionate about this, which is why I have put forward specific plans about how we incentivize more jobs, more investment in poor communities, and put people to work."

    From http://www.politifact.com/truth-o-meter/article/2016/may/10/context-hillary-clintons-comments-about-coal-jobs/ [politifact.com]

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  • (Score: 3, Interesting) by Azuma Hazuki on Saturday February 04 2017, @04:12PM

    by Azuma Hazuki (5086) on Saturday February 04 2017, @04:12PM (#462859) Journal

    Wowwwww. Now I have to wonder if someone is paying him for this shit.

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  • (Score: 2) by fritsd on Saturday February 04 2017, @08:57PM

    by fritsd (4586) on Saturday February 04 2017, @08:57PM (#462929) Journal

    That was actually really nicely done by the original AC poster.
    I just checked the URLs linked just to be sure and they were the same :-)

    I thought there was something funny with the AC version, like: "well that sounds oddly reasonable of Trump!"
    But I thought: "Trump wouldn't say "Because of the terrible economic policies of the Bush administration, President Obama was left with the worst financial crisis since the Great Depression", he's candidate for the bloody Republicans!"

  • (Score: 2) by q.kontinuum on Monday February 06 2017, @03:38PM

    by q.kontinuum (532) on Monday February 06 2017, @03:38PM (#463455) Journal

    Excerpt of Hillary Clinton's speech to coal miners, from the link:

    No, Alternate facts [wikipedia.org] [t|T]rump over objective reality. This was clearly an original statement of your POTUS.

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