Obama Administration Battles Bush Appointees at World Bank Over Third-World Lending
by Susan Kraemer in Alternative Energy
Reuters is reporting that the US is trying to block coal plant funding by the World Bank for a $3.75 billion project in South Africa. The UK joined with the US in trying to block the loan.
Both nations agreed at Copenhagen to provide clean energy funds to developing nations, for renewable energy, energy efficiency and climate change adaptation, that would be handled through the World Bank.
What Reuters is not reporting is that it is holdover Bush appointees on the World Bank board who will likely over-rule the US and UK opposition to the dirty power funding – and grant the loan.
The ghost of a previous administration hangs over the new one
The lions share of the loan – $3 billion – would go to South African power utility Eskom to fund the bulk of a 4,800-megawatt Medupi coal-fired plant. Only a much smaller $750,000 would go toward renewable energy and energy efficiency projects. But Secretary of State Hillary Clinton took a promise to Copenhagen of third world assistance in developing clean energy.
This battle reveals the deep conflict within the US, between the current Democratic administration’s support for reducing greenhouse gases, and the previous administration’s very different focus on fossil energy development.
Bush appointees comprise the leadership of the World Bank.
Current World Bank director, Robert Zoellick, was a member of The Vulcans – the group headed by Dick Cheney that advised Bush on foreign policy. Bush selected Zoellick to replace his previous neoconservative selection (Wolfowitz, also a member of The Vulcans) after he had been forced out under a cloud of corruption.
The organization has now been tasked with forwarding renewable energy loans in the wake of Copenhagen to promote the development of the new clean energy economy in the developing world.
However, as recently as last year the World Bank backed one of the world’s top 50 polluters; India’s Tata Ultra Mega super-critical coal plant.
It is run by those with deep connections to the very fossil industries that are pulling the environmental rug out from underneath our world.
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Posted on Mar 18, 2010
$100 billion, Bush administration, copenhagen, developing world, fossil fools, Secretary of State Hillary Clinton, World Bank
About the Author
Susan Kraemer
Susan Kraemer is a transplanted Kiwi retired from three design businesses she started from humble beginnings in N.Y.C. and California, who now lives in the Bay Area. She writes about climate change to publicize the many great solutions we can find if we just put our minds to it.2 Responses to “Obama Administration Battles Bush Appointees at World Bank Over Third-World Lending”
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kimberly
Mar 22, 2010
These “morons” do NOT care about OUR planet, or their own children’s future planet, let alone OURS! Bush & co helped the millions of AMERICAN jobs, production and prosperity to OUTSOURCE so they can pollute from afar and induce third world slavery! AMERICANS “Made” these corporations! they betrayed us all! So let them ALL stay in their countries and lets start over and open up NEW production/manufacturing, infrastructure, farming, community gardens etc. PUBLIC transit across the board so these auto, oil corps cannot hold us all hostage again! Hence: They PAID Az reps to NOT build the massive public train in Phoenix in 1978. Now in 2010 Phoenix, it is a medicated reitiree, auto NIGHTMARE and when there are NO jobs the oil corps raise prices as everyone else does! I do not see how AMERICANS are paying their bills?????
Catherine
Mar 22, 2010
I think it’s time to email DC and tell them we’re not happy about this. I plan on doing just that! Thanks for the great article, Susan.