Obama’s Climate Obsession Harms U.S. Interests and Moral Standing

[Old Rocks]

The good news is that China recognizes its energy problem and is making big bets on renewable energy. According to The Global Status Report, which was released earlier this month by the Renewable Energy Policy Network for the 21st Century, China once again led the rest of the world in renewable energy investment in 2013, spending a total of $56.3 billion on wind, solar and other renewable projects. The report stated that China accounted for 61 percent of the total investment in renewables by developing countries, and that China invested more in renewable energy than all of Europe last year.

China’s continued commitment to renewable energy investment is all the more striking because it came in the face of a global decline in renewable energy investment. In 2013, global new investment in renewable power and fuels was approximately $214.4 billion, down 14 percent compared to 2012, and 23 percent lower than the record high in 2011. By way of contrast, China has increased its investment in renewables nearly every year for the past ten years. New renewable power capacity surpassed new fossil fuel and nuclear capacity in China for the first time in 2013. China is now home to about 24 percent of the world’s renewable power capacity, including an estimated 260 gigawatts of hydropower.

China Leads In Renewable Investment -- Again

And, in the meantime, 'Conservatives' would shackle us to dirty coal. The hell with them, even Texas is investing really big time in solar and wind.

 

[HenryBHough]

Imagine how much less fuel would be needed if you liberals would just park your SUVs, ground Air Farce One and turn off your computers!

It might even save the planet but then you'd have one less thing about which to whine and that might give you a tummy-ache.

 

[Where_r_my_Keys]

Unbelievable, He's not just HURTING us now with his narrow minded views and policies. the thug/dictator wannabe can't bend on anything. it's either his way or you get thrown under the semi on the Highway.

SNIP:
His war on coal is a big winner for China and a big loser for the world’s poor.

By H. Sterling Burnett – 5.12.15

Among the many foreign policy blunders for which President Barack Obama will be remembered, few will arguably have as lasting a negative impact on U.S commercial interests and our position of moral leadership in the world as the pressure the president applied to the World Bank to cease funding coal-fired power plant projects in developing countries.

According to World Bank Executive Director Whitney Debevoise, “The Obama Administration believes that the Multilateral Development Banks (MDBs) have a potentially critical role to play in the future international framework for climate finance, and, in particular, to assist developing countries in mitigating greenhouse gas emissions and… build demand for no or low carbon resources.”

The World Bank’s decision to follow the Obama administration’s lead had an immediate, dramatic effect in Pakistan, shutting down construction of the Thar Coal and Energy Project, which depended on World Bank financing.

Dramatic effects often result in dramatic responses.

The world is rejecting the U.S.-led World Bank’s decision to defund fossil fuel energy development. Countries and international agencies are creating new development mechanisms outside of and competing with U.S.-controlled financial institutions. If they are successful, millions of people will be brought out of poverty, despite a diminished U.S. role.

China stepped in to replace the World Bank’s withdrawn financing for coal-fired power plants in Pakistan, agreeing to provide up to $37 billion in investment to generate 16,400 MW of power.


In a more profound and permanent move, China is leading the development of a new financing institution to counter the World Bank’s leverage. The Asia Infrastructure Investment Bank will get $50 billion in initial capital from China to invest in roads, cellphone towers, railways, airports, power plants, and other infrastructure projects across Asia.

Embarrassingly, despite the desperate, obvious need people in developing countries have for energy to reduce the grinding poverty crushing them, the Obama administration fiercely lobbied U.S. allies not to join the new bank.

In yet another show of our fading influence in world affairs under the Obama administration, most major U.S. allies and funding partners — including Australia, Britain, and South Korea — have agreed to join the Chinese-led effort.

ALL of it here;
Read more at Obama s Climate Obsession Harms U.S. Interests and Moral Standing The American Spectator

obama's presence is a threat to the US.