In coal debate, the greens see only 1 side
It's pathetic that job creation doesn't play a bigger role. We should better balance jobs and environmental concerns.
Let's start with a fair premise. I hate coal. I have supported anti-coal causes from when I was a teenager and saw the destruction in the Adirondacks from acid rain caused by Ohio power plants. I think that coal is a scourge that causes tremendous health damage and, according to the Sierra Club, which I belong to, kills about 20,000 people a year.
As most of you know, I favor aggressive expansion into natural gas plants as a bridge fuel that can reduce harmful emissions until we develop more economical sources of safe power.
But I watch aghast as the powerful environmental lobby, not content with the huge wins it has had in closing old coal plants here, is now attempting to shut down our own exports to countries still tied to coal-burning power plants, in some cases more than ever, because of the rapid shutdown of nuclear plants everywhere because of the Fukushima tragedy.
This weekend, in a fabulous piece in the New York Times, we saw the stark contrast between the greens in our country who want to shut down coal ports and block new ones vs. the people of a poor Native American tribe who are starved for jobs, with only the coal industry giving them much of an opportunity to work. But we are closing coal plants so quickly in the U.S., especially the ones mandated by President Carter in the late 70s to get off of our OPEC addiction, that those jobs will most surely soon wilt away without exports.
Cloud Peak (CLD), the coal company in question is only one of many that could be hard hit. We know from the fiasco that was the Walter Energy (WLT) stock halt on Friday, as it attempted to raise money to fix its balance sheet, that the stress in the coal patch is now very dire. The only real hope for those employed by these companies is more terminals to ship to the coal-starved Asian nations.
It's not as if we stop mining it and shipping it, they will stop using it. There's plenty of coal that can take up the slack, but our coal is preferred for both its quality and ease of transport. We will simply be exporting more lightly-skilled jobs overseas.
But this trumping of job creation for the poorer and less skilled on behalf of what tends to be the wealthy elites who have few employment fears has been at the heart of this administration's energy program, if you can call it that. I have asked the representatives of this administration a myriad of times if they can choose to balance jobs vs. environmental concerns and they simply refuse to answer in any coherent way. I now fear that the president will say yes to Keystone, but as part of any compromise will put in a carbon tax that will severely hinder our economy and promote more job exporting, this time to the Chinese and Mexico.
There's a cost-benefit to everything. But not when it comes to the greens. They only see the benefits to the skies, not the losses to the workers in what is a country that is struggling to produce enough jobs to put food on the table. There's nothing wrong with exporting coal to China and then demanding that the Chinese do their best to clean the skies if they want free trade. Instead, we will simply stop sending it and other nations will provide it with no quid pro quo at all. It's just a triumph of the wealthy over the workingman, instead of a careful balance that keeps jobs, but also strives for long-term air quality. It's pathetic that job creation doesn't play a bigger role in these incredibly important decisions that lead to incredible hardship for soon-to-be un-gainfully unemployed.
Jim Cramer is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for Action Alerts PLUS, which Cramer co-manages as a charitable trust and has no positions in stocks mentioned.
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There are "clean coal" burning applications; They cut down on pollutants and increase efficiency in the process of producing power..The benefits are the efficient part, and the side effects of less pollution to our enviroment..
Many Power Companies are reluctant to purchase the applications, I think mostly because of lack of subsidies and quicker return on their investment dollars or outlays.
It can run a few and up to several million..
We have invested in these "green companies" in the past, "but not at present.."
Mainly because of volitility resting on numbers of orders coming in for the Applications.
And they would sporadicallly get orders from Foreign entities.
I believe that "green incentives" and more tax credits should be given in this field..
But wouldn't probably invest in the companies again.
And also; Yes Virginia, there can be cleaner burning coal in our landscape.
The Indian Women's name was Cobell, that initiated the Lawsuit, against the Federal Gov't.
(had to look up the spelling) may she rest in peace finally, knowing she was a tower amongst her people..
Dave....As of RECENT times....There was a settlement to American Indian Tribes and Nations.
Dealing with the BIA (Bureau of Indian Affairs) and the Department of Interior..Underpayments and mis-handling of Funds
The Government and the SCOTUS awarded approximately a little over $7 Billion dollars to Indians of several Tribes/Nations and Indians that were holders of IIMA accounts...
Individual Indian Money Accounts.
It all came from an Indian women from the Sioux Nation, I think Lacota.Starting a Class Action Lawsuit several years back...Unfortunately she died last year..But died knowing that we had won the Lawsuit against the Dept. of Interior and BIA.
The Majority of the payments have been made over the last year or so, and are being finished up this year...The Indian Trust Settlement (as known) has/is paying out about $600-2000 to individual
Indians, depending on their accounts, ages and holdings in past accounts.
Not all Indians receive monies, only qualifiers..
Yes it dealt with Land leases and royalities on various items such as coal and oil/gas,etc..
Mostly mis-handled by the BIA. and bad accounting practices.
Others that were really screwed over by the Coal and Timber Capitalist, were the White people of Appalachia....Of course much of their land and holdings, were taken from the Indian Tribes that used to live in the Regions, until the "Indian Removals" were instituted mostly by Andrew "Harjo" Jackson, the 7th. POTUS in the early 1800s.
"Harjo" is a Muscogee (Creek) indian word, roughly translated as "Crazy".
"The Trail of Tears" removal was not only about Cherokees, but several Nations were involved.
Say it ain't so ?
The World doesn't have a problem with FOOD supplies so folks going hungry is simply because folks don't see enough PROFIT in keeping those in Third World Countries with enough to eat. There is simply no connection to Coal and going Hungry. Concerning Coal and Jobs, fact is, there are countless ways to create Jobs. No reason to make coal and jobs connected when today's technology allows for better ways of doing things. Using Coal in third world countries just creates more health issues they can't afford. There are far better ways and far better job types.
Just so I won't be known as a "green Liberal weenie"....We invest in Coal..
It has been a decent investment, except a for recent downturn that has been more than recovered now;
It's pays a nice dividend..
And our Company or investment ships substancial amounts to Asia..
So I don't feel guilty about polluting America as much..
ABS....as I move on to my next level of numbers, I would only have about 19 posts to go..
18 after this one..
Maybe I can get off the addiction this time...??
I'm hoping that I can trust you to slap around some of the morons, imbeciles and cretins and keep them all in-line...It's a tough job, someone has to maintain the duty..
It's time for brunch...So a break from my rambling..
I don't know about Trillions that are owed American Indians...
But I'm sure we would take all that is collected in cannisters across this Nation, that is donated by guilty White and Black people...
But you can help by stopping by some of the many Casinos across the Nation...
They would gladly receive it back, at a "nickel at a time"..
V_L.....As far as your idea about our Ancients in the Americas...It's very hard to agree or disagree.
There are several reasons/theorys in my playbooks..
As far as the fishing aspect...?
The Native Americans taught a lot of Europens how to hunt or fish, otherwise they would have starved to death...
They did not return the favors, by placing or relegating them to the weeds, rocks and wastelands of America...In MY OPINION..
And someone like you will do little or nothing to EVER change my views of the subject..
I highly suggest you read about another 20 books concerning the Subjects and Sagas...
And then travel throughout the Americas.
Not a total retirement ABS, but I find little amusement here as in the past years or even way back many years ago...
Some of the arguements and so-called discussions or some want only to debate, get quite boring and repetitious over the weeks and months..When it has little to do with investing or the articles at hand..
I come here everyday to MSN, to eyeball Markets and check Watchlist's percentages...
The articles I peruse for their content or facts...The comments for consumer sentiment and ideas.
And then a little jousting, because of boredom.
I find to get into more analytical market discussions, or individual stock ideas, is much easier to do elsewhere..
Although some here may be investors in one form or another, many about 60-70%+ find little enjoyment in discussing any specifics for more than a few comments...
Occassionally there may be some comments of ideas of values, but soon commentors get bored or the talk by others goes off track...
And I understand the boredom, but don't always agree with the senseless banter.
The Markets did nicely today..And I'm off to the garden, or mowing one...Maybe both.
There is no actually long term cost benefit to using something that caused to seniors to live a lifetime using records amounts of Medicare because of that use. It's called short term gains for long term pains. Can you actually put a price on your health? Most won't.
"Perhaps if they saw a child die of hunger or they themselves went hungry every day they might rethink their passions."
What the Hell do YOU know about it? Been there? Tried to see it from that perspective or case? Any IDIOT can amass wealth and become an Elitist. The REAL skill comes from having that option but making sure you understand it from inside a pair of it's shoes. The fact is-- we are HOGS of energy. Let's reduce reliance until we increase the science and master intelligent design.
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