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Ladywriter

Loans program for rural coal plants shelved

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w00t

APTRANS.gifupdated 10:39 a.m. ET, Wed., March. 5, 2008

BILLINGS, Mont. - The federal government is suspending a major loan program for coal-fired power plants in rural communities, saying the uncertainties of climate change and rising construction costs make the loans too risky.

After issuing $1.3 billion in loans for new plant construction since 2001, none will be issued this year and likely none in 2009, James Newby, assistant administrator for the Rural Utilities Service, a branch of the Department of Agriculture, said Tuesday.

The program's suspension marks a dramatic reversal of a once-reliable source of new coal plant financing. It follows the announcement last month that several major banks will require plant developers to factor in climate change when seeking private funding.

yesssssssssssssssssss!

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                                               Look at the flowers

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They shouldn't have been funded in the first place.

Such a waste of Taxpayer money.


Protect Title II Net Neutrality

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