Obama’s promise to bankrupt coal industry to cost 1,000 jobs in upper Midwest

posted at 12:00 pm on June 27, 2010 by Ed Morrissey

During the campaign, Barack Obama promised to bankrupt any new coal-burning plants in the US through his global-warming policies.  Congress has followed suit with a cap-and-trade bill that Harry Reid keeps promising to revive.  One firm in Wisconsin shows exactly what happens when politicians intervene to attempt to conduct social engineering in the energy sector. Bucyrus just lost a $600 million project for a new coal-burning electricity plant in India, thanks to a decision by the Congressionally-funded US Export-Import Bank to deny the Wisconsin firm credit, based in part on Barack Obama’s policies:

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 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.”

This decision won’t stop one carbon molecule from hitting the air.  In fact, it will likely make carbon emissions worse.  India will look for other vendors to supply the equipment, probably from neighboring Russia or China, as they will continue to build and operate the plant.  Both nations compete in the same marketplace as Bucyrus, but they don’t work as cleanly as the American company does, which means the end result will be lower efficiency and more pollution.

Democrats like Obama keep talking about eeeeeevil corporations that export jobs overseas to save costs rather than keep them in the US.  Well, Obama and his Congress just sent 1,000 jobs overseas — jobs Americans lost, and jobs that either Russian or Chinese workers will get instead. And instead of bankrupting this new coal plant, they just made it dirtier.  Good job!

Two Democrats in Wisconsin, neither up for re-election, scrambled to find political cover in the wake of the devastating decision.  Governor Jim Doyle and Senator Herb Kohl both publicly objected to the decision and promised to push for a reversal, even though there is no appeal at the Export-Import Bank.  Senator Russ Feingold, who is running for re-election, has been quiet about the debacle thus far.  The most liberal member of the Senate has expressed skepticism about cap-and-trade, but only in the way carbon allotments punish Wisconsin in order to benefit California and Massachusetts — the two states where the bill’s authors reside in both the House and Senate versions of the bill.

The best way to ensure that these kinds of decisions cease is to get rid of Democratic control in Washington DC.  Wisconsin voters have the opportunity to signal their displeasure with the Bucyrus decision by canceling Feingold’s Senate career in the same way that the Export-Import Bank canceled a thousand jobs in the upper Midwest.


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I’m not sorry for the morons in the coal-mining states. Obama told them he’d bankrupt their industry and put them out of work, and they went ahead and voted for him. They made their beds….

SilentWatcher on June 27, 2010 at 12:08 PM

Cloward-Piven being helped along by the useful idiots in the unions that supported and voted for him, the same unions that are now losing all these jobs.

This is fantasy-come-true time for anyone who wants America destroyed. The Gulf shore is being destroyed, Muslims will repopulate America within one generation living on welfare and vote in their own President and Sharia law, the ACLU is driving any vestige of our heritage out of the public square, the Unions and Acorn are serving as the useful idiots and thugocracy to help make this all happen under the always helpful and ever vigilant liberal press.

This is so much more successful than the marxists now leading our country could ever have dreamed. I’ll bet they didn’t expect so many people to just lay back and take it.

JustTruth101 on June 27, 2010 at 3:02 PM

Ron Johnson and Dave Westlake are the GOP contenders, Johnson will probable win the GOP nod. If you would have asked me a year ago if Feingold would ever lose re-election I would have said you were nuts, now I’m not sure. Looks like Johnson has a real chance,(Feingold 46% to Johnson 45% on last Rasmussen). And the guy hasn’t even started campaigning yet, most people here in Wisconsin never even heard of him.

lowandslow on June 27, 2010 at 3:05 PM

Wisconsin brought this on itself by voting for Obama.

scotash on June 27, 2010 at 2:27 PM

Let’s keep the facts straight here, 56% of Wisconsin voters screwed things up for the rest of the state…

WhoU4 on June 27, 2010 at 3:07 PM

I thought I had to back off Glen Beck’s 10 Billion Petrobras/Soros claim. I checked with Factcheck.org but I guess their biased now. Sorry Mr. Beck.

serendip2b on June 27, 2010 at 3:11 PM

JustTruth101 on June 27, 2010 at 3:02 PM

ditto

tim c on June 27, 2010 at 3:12 PM

This is just a start, they are not going to stop till our country is ruin. For the first time in my adult life, I hate. Seriously.

nwpammy on June 27, 2010 at 3:13 PM

The Dems are trying to plaster Smiley Face stickers on skulls of their own [policy's] making.

:(

.

profitsbeard on June 27, 2010 at 3:14 PM

It used to be follow the money path. Now, its follow the destruction of money path.

serendip2b on June 27, 2010 at 3:14 PM

hopeandchange working as designed.

RealMc on June 27, 2010 at 3:19 PM

Wisconsin voters have the opportunity to signal their displeasure with the Bucyrus decision by canceling aborting Feingold’s Senate career

Fixed it.

antisocial on June 27, 2010 at 3:30 PM

There is now one of those “Hows that hope and change working out for you” billboards on the highway between Milwaukee and Madison.

sammypants on June 27, 2010 at 12:41 PM

Awesome, Where Exactly?

WhoU4 on June 27, 2010 at 3:31 PM

One of the last times I ever listened to Obama was way back when he was campaigning. He did say exactly that; he aimed to shut down the coal mines, and as a bonus, our utility bills would go through the roof. Well, I was shocked, but thought, at least he won’t get elected now, running on that platform.
Shows you how wrong a person can be. I suppose in-between all of his lies, he states a truth now and again. Just never know when it is or what it is.

betsyz on June 27, 2010 at 3:56 PM

Just like the Muslims trying to impose sharia, the ObaMao administration is using our laws to undermine us. And if there isn’t a law, then an EO or a federal agency trumps the law.

Another point that gets mixed in the mess is that ObaMao is working very hard to unravel the relationship that the US has with India, a relationship that W carefully cultivated. The question is why?

Wasn’t VP BiteMe stumping for Feingold in WI, and didn’t the VP refuse to take any questions?

To send our industries to other countries that have a lesser concern for the environment than we do is downright criminal.

onlineanalyst on June 27, 2010 at 4:05 PM

Wow.

My very first real job after getting out of the Navy was with Bucyrus-Erie. They were opening a new plant (coincidentally, at the old Naval Ordnance Repair Center in Pocatello, ID. They hired my in Iowa (long story) after welding school and my wife and I moved there in November 1974.

We made parts for drag line cranes and shovels. We made one of the big drag lines for China. I remember the bucket; you could easily fit a house inside with room to spare.

The company fell on hard times. I ended up leaving and going back to school, got an engineering degree, and moved to Utah. The company eventually left Pocatello.

Sorry for the blathering. Memories…

BTW, the Naval Ordnance Center was where they straightened out the huge guns on battleships, cruisers, and other war ships. After so many firings, the barrels would warp. The Center that these huge holes in the ground lined with electric (I believe, I never went down a hole) heaters. They would use huge cranes to hold the barrels on end, lower them into the holes, and turn on the heat high enough that gravity would straighten them out. It must have have been damn impressive to watch.

That part was all shut down by the time BE and I got there, but the huge buildings and larges overhead cranes were perfect for BE. I got to see the holes being filled and capped, though. It took a LOT of dump trucks.

Feeling old right now…

karl9000 on June 27, 2010 at 4:33 PM

only in the way carbon allotments punish Wisconsin in order to benefit California and Massachusetts — the two states where the bill’s authors reside

Imagine that!

GarandFan on June 27, 2010 at 5:10 PM

this is another arm of the power grab, pun not intended, isn’t it? Reduce the economic power of midwestern, flyover states by costing them jobs, and further concentrating that power in the coastal states by setting up a disequilibrium that unnaturally draws people to those states further enhancing their congressional and voting power.

we are being overrun in many ways, it is happening right under our noses. Wrenches need to be thrown into these plans. This is what “change” looks like.

ted c on June 27, 2010 at 5:32 PM

Unless you people know the God of Abraham, Isaac and Jacob, you don’t have the strength nor know-how to take on this wickedness. The principalities and powers in high places do not care about those who get all worked up politically. This is a MORAL and THEOLOGICAL BATTLE and unless you know the Lord God you are just a pointless screamer. But no, like Allah P you continue to poke around the edges and act like Nov is going to change things. You are still death-bound no matter what party is in place. You best look inside at the real problem… it is within, and only repentance will change that.

leftnomore on June 27, 2010 at 5:42 PM

This man will stop at nothing to bring this country down to third world status.I believe he is a Muslim and hates this country because of it’s Christian roots and all it stands for.We are in a dangerous time and God only knows if we will survive.The useful idiots who put him in office are such fools and people like Bill O,Reilly who still think he’s not dangerous are just as foolish.God help us.

thmcbb on June 27, 2010 at 6:21 PM

We can’t make sales without loan guarantees from the government?

AshleyTKing on June 27, 2010 at 6:32 PM

There is now one of those “Hows that hope and change working out for you” billboards on the highway between Milwaukee and Madison.

sammypants on June 27, 2010 at 12:41 PM
Awesome, Where Exactly?

WhoU4 on June 27, 2010 at 3:31 PM

Probably right next to Kopp’s.

missl on June 27, 2010 at 6:38 PM

Obama, as he rubs his hands together: All is going according to plan. Aaaaaaaah. Soon, everyone will be dependent on me, for their daily rations. Muwhahahahahaha!!!

And I’m not trying to be funny here.

capejasmine on June 27, 2010 at 6:39 PM

Archimedes – don’t despair.

Here is what is going to happen, but it all depends on November:

Both the House and Senate are set to flip – Obama is really hated by just about everyone. His approval is hanging around mid 40s only because the black vote is still over 90% in the tank. He is killing every “D” not on a coast and not helping those on the coast – Boxer in CA is in trouble, big trouble.

If they truly do the lame duck session – I just think the screaming will be angrier and angrier – and then you are going to see more Arizona laws in other states on immigration and health care and energy. The 10th ammendment is going to be brought back to life – Kagan will be on the supreme court but will once again be a liberal justice who is not the equal of her conservative colleagues. They are losing two strong jurists for two weak ones. And there will be no new ones because the GOP can vote them down on a straight vote. The appointment of Becker(?) at the NLRB will be over so card check by fiat is also not gonna happen.

My most fervant prayer – no one tries to assassinate this clown. There are some angry people out there and when they rightly feel the law is not being followed, desperation can take hold.

The bigger issue – does the GOP have the guts to ACTUALLY fight it out.

Zomcon JEM on June 27, 2010 at 6:47 PM

I lived in Wisconsin when Feingold was first running for the senate. I watched the debates between him and his “Republican” opponent. I knew then he was a left wing incompetent buffoon. He only won because his opponent was no better and couldn’t offer up clearly articulated conservative arguments. What a shame for the state of Wisconsin. Throw the bum out!

paraff on June 27, 2010 at 6:49 PM

The unions and the media still slobbering over Obama.

mobydutch on June 27, 2010 at 6:50 PM

Slightly OT: I heard talk about the budget he proposed, WHICH THE DEMS IN CONGRESS REFUSE TO BRING TO THE FLOOR. They are all idiots. obama talks about the worst recession since the Great Depression. HE IS THE WORST RECESSION SINCE THE GREAT DEPRESSION!!!!!!

ConservativePartyNow on June 27, 2010 at 6:51 PM

Obama, as he rubs his hands together: All is going according to plan. Aaaaaaaah. Soon, everyone will be dependent on me, for their daily rations. Muwhahahahahaha!!!

And I’m not trying to be funny here.

capejasmine on June 27, 2010 at 6:39 PM
How very, very true!!!

mobydutch on June 27, 2010 at 6:52 PM

Elections do have consequences- and for all you who voted for this O’dumbo-well, you made your bed now you have to lie in it.

hawkman on June 27, 2010 at 7:08 PM

Obama will blame Bush for Obama’s failures, like he always does and the media will (as usual) give him another pass.

Whoever our next president is, is going to have to work extra hard to undo all that Obama is doing to deliberately take our country down.

BruthaMan on June 27, 2010 at 7:09 PM

Everyone should be asking why is the Export-Import Bank exporting 1,000 jobs from Wisconsin to China?

slp on June 27, 2010 at 7:15 PM

This is just a start, they are not going to stop till our country is ruin. For the first time in my adult life, I hate. Seriously.

nwpammy on June 27, 2010 at 3:13 PM

I’m afraid I’ve fallen into that line of thinking as well. I wish I could just say I strongly disagree with the guy and keep it at that. I don’t like hating anyone but damn this man is so destructive and incompetent that it’s hard not to.

Yakko77 on June 27, 2010 at 7:32 PM

The bigger issue – does the GOP have the guts to ACTUALLY fight it out.

Zomcon JEM on June 27, 2010 at 6:47 PM

Truly the question of the hour, and the prognosis doesn’t look good. Bachmann, Pence, DeMint, Issa, Inhofe, maybe Kyle, are just about all the ones that come immediately to mind (if I’ve left anyone out please inform me) with possible reinforcements by Angle(AZ), Johnson(WI), Rubio(FA), & maybe a few others, are not enough to swing the important fights against statist rule out the 635 Sen’s & Rep’s. The 10th is looking to become a real issue as some staunch spined Gov’s are on the way up, but here again we run into deeply entrenched (for life in this case) opposition as the Supremes have solidly rejected this over the years.

I truly hope that things are not as dire as they appear to me right now, but to reverse the pendelum that has gained the momentum this one has acheived some exceptionally damning info must come to light (and I mean just not here in the blogoshere) that is prosecutable.

Archimedes on June 27, 2010 at 7:34 PM

Are Bucyrus workers unionized and did they vote for Obama?

Yakko77 on June 27, 2010 at 7:34 PM

That EssOhBee ObaMao responds to a G-8 question with a bunch of outright lies and half-truths and irrelevancies, and then runs away. Be sure to note, too, that he feels obliged to scratch his brow with his middle finger.

http://www.realclearpolitics.com/video/2010/06/27/obama_calling_bluff_of_those_complaining_about_debt_he_created.html

Congress has NO budget. The “commission” reviewing the deficit has no supply side nor business/corporation representation. The Defense Department is not causing the growth of this deficit. ObaMaoCare IS creating and exacerbating the deficit. Don’t Ask, Don’t Tell has NOTHING to do with the question.

ObaMao’s destruction of private businesses/corporations through government grasp of assorted sectors of the economy is killing growth and the cash cow that will pay for these socialistic programs.

And he has the nerve to say, you ain’t seen nothing yet…

onlineanalyst on June 27, 2010 at 8:00 PM

More “SMART POWER” at work…

NO-vember 2010 and 2012 can’t get here soon enough…

Khun Joe on June 27, 2010 at 8:32 PM

Honest to Pete, that RCP link is worth its own thread.

That liar claims that the US is attempting to cut the deficit with Congress’s passing PayGo. PayGo has been ignored in so much legislation that requires financial outlay that it isn’t even worth using in a park privy.

onlineanalyst on June 27, 2010 at 8:45 PM

Oh dear… the far right hates these programs anyway.

So why can’t the free market help these guys out????

Please explain why this is a conservative issue. Thanks.

lexhamfox on June 27, 2010 at 8:57 PM

Obama is doing what any good Marxists in his position would do. He is actively engaged in destroying America.

Army Brat on June 27, 2010 at 8:59 PM

Lexham Skunk, nice try. The “free market” was just kicked in the nuts by the invisible hand of undue Federal regulation. Which of “these programs” are you referring to?

Jaibones on June 27, 2010 at 9:07 PM

Archimedes -

I think the court is much more susceptible to public pressure than you might think. The 10th amendment – lost for almost the last 100 years is set for a comeback because the people are beginning to ask for it. And thankfully, the health care reform bill is giving state’s governors a great way to press it -or face bankruptcy.

Zomcon JEM on June 27, 2010 at 9:59 PM

I’m not sorry for the morons in the coal-mining states. Obama told them he’d bankrupt their industry and put them out of work, and they went ahead and voted for him. They made their beds….

SilentWatcher on June 27, 2010 at 12:08 PM

Cartman from South Park …

“Ha haha ha ha ha. Ha haha ha ha ha. Ha haha ha ha ha. Ha haha ha ha ha.”

BowHuntingTexas on June 27, 2010 at 10:15 PM

Simply replacing the congress won’t be enough to stop the damage that this moron is doing to our country.

crosspatch on June 27, 2010 at 10:31 PM

The best way to ensure that these kinds of decisions cease is to get rid of Democratic control in Washington DC. Wisconsin voters have the opportunity to signal their displeasure with the Bucyrus decision by canceling Feingold’s Senate career in the same way that the Export-Import Bank canceled a thousand jobs in the upper Midwest.

Sadly, there are a lot of idiots in this state.

WisCon on June 27, 2010 at 11:05 PM

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. … “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.”

vs.

The U.S. Export-Import Bank tells us it has issued a “preliminary commitment” letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.

It’s a Soros state of affairs.

Noel on June 28, 2010 at 12:13 AM

It isn’t just the companies that mine it… its the railroads that haul it, the ships that ship it, the ports and depots that transfer it, the foreign money spent into our economy etc.

viking01 on June 28, 2010 at 6:31 AM

IDIOT!!

Herb on June 28, 2010 at 11:39 AM

Here’s a good idea…let’s not pollute anymore, we will just farm that out to other countries, and let them pollute.
That way we can have higher energy prices, higher unemployment, and more world pollution…
Now there is an idea only a liberal could embrace.

right2bright on June 28, 2010 at 12:35 PM

Doesn’t India border Arizona?

PatriotRider on June 28, 2010 at 3:21 PM

It gets Better Captain Kick-ass is coming to Racine this week. So Expect Obama to get booed and a chilly reception
PS It is a Union Shop, Steel workers who plan to stack the meeting.

Gracelynn on June 28, 2010 at 7:35 PM

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