Free Markets, Free People

How to increase China’s influence and enable China’s global energy policy in two words

And those two words are “Barack Obama”.

I don’t know about you but I’ve gotten real tired of seeing the US play the dope on the world stage these last 6 years.  I’ve touched on this before, but it doesn’t get much coverage and is indicative of how much foreign policy damage this administration is doing.  I touched on this earlier, but I’m fascinated by how totally tone-deaf and inept this administration appears to be.

The story, as the administration wants it to unfold:

The US government has stepped up pressure on the World Bank not to fund coal-fired power plants in developing countries. In a letter sent to the World Bank United States Executive Director Whitney Debevoise said, “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 strengthening their economies’ resilience to climate risks.” Following Debevoise’s controversial guidelines, the axe has already fallen on Pakistan’s Thar Coal and Energy Project on the grounds that “the limited financing available from the Bank should be directed toward investments that address energy supply shortfalls in an environmentally sustainable manner’’.

So there Pakistan?  No coal fired plants for you! We have spoken!

Oh, wait:

Chinese President Xi Jinping is set to unveil a $46 billion infrastructure spending plan in Pakistan that is a centerpiece of Beijing’s ambitions to open new trade and transport routes across Asia and challenge the U.S. as the dominant regional power. The largest part of the project would provide electricity to energy-starved Pakistan, based mostly on building new coal-fired power plants.

It’s just blatant now … total disrespect for the US.  Even our ally in the region, Australia, has had enough.  Japan is tired of the posturing and pushing of ideology in support of something science doesn’t support much less prove.  More importantly, they’re not going to play ball anymore and aren’t making any bones about it.

Who do you suppose Pakistan is looking too for leadership in the energy sector now? Who do you suppose they might see as a champion of their economic growth?

The Geological survey of Pakistan reveals that 175 billion ton of coal is buried under the Thar Desert. These coal reserves alone are equivalent to total combined oil reserves (375 Billion Barrels) of Saudi Arabia and Iran. The coal deposits in Thar can change the fate of the country if utilised in a proper way. The coal reserves at Thar Desert are estimated around 850 trillion cubic feet (TCF) of gas, and are worth USD 25 trillion.  According to experts, if this single resource is used properly, we not only can cater to the electricity requirements of the country for next 300 years but also save almost four billion dollars in staggering oil import bills.

And if Pakistan feels that way, what about India?

India is hoping a new China-backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending. A senior Indian official told Reuters the Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blocked. “When you have 1.3 billion people starved of electricity access and the rest of the world has created a carbon space, at this point denying funding is denying access to cheap energy,” said the official, who spoke on condition of anonymity.

So now “rich America” is trying to force developing countries to forgo cheap energy in the name of  … ideology.  Hey, wasn’t Obama the guy always apologizing for the way he felt America bullied other countries?

Well, at least he only bullies allies.

~McQ

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7 Responses to How to increase China’s influence and enable China’s global energy policy in two words

  • THE thing that signals modernity and launches an immense leap in the standard of living for people…but ESPECIALLY for women…is reliable, affordable electrical power.

    I’m glad that the people of the world’s poorest nations will have this in greater abundance, in spite of all our Enviro-Fascists have tried to do to keep them down.

    Now, if we can just help them move even more strongly to capitalism and eschew Islamism…

  • Voter fraud aside, the low information voters (LIV’a) pulled the lever based on skin color alone, consider what happened.
    Now these same LIV’s want to pull the lever based on gender alone and expect things will be different.
    This is what Einstein called the definition of insanity.

  • If we assume the underlying phenomenon involved here is “crony capitalism,” then a “windfall profits tax” on all energy production matched with a high re-investment tax credit would seem to be the “progressive” solution.
    Those who are in it for the long haul will stay in, but most of the investors in “new technology” don’t have the patience.

    • They ALSO have very little to show for their investments UNLESS they are tied into the fascist model that sees vast government funds slushing into their particular investments.

      And there’s an excellent reason; “new technologies” are a boondoggle, and CANNOT work as promised. “Wind power” is as “new” as the Middle Ages, for instance.

      • Solar power, as we have seen with Solyndria, involves lots of toxic substances that the EPA would normally regulate out of use, if they didn’t involves some “crony.”

  • I really think that the government should stay out of the “paradigm shift” business.