47895Coal poised for rare win over Obama : Export-Import Bank
- Jul 6, 2014
Coal poised for rare win over ObamaBy Kevin Cirilli - 07/05/14 02:13 PM EDT
The coal industry is poised to score a rare victory over the Obama administration in the fight over the Export-Import Bank.
Both of the working proposals in the House and Senate to renew the bank’s charter would reverse Ex-Im guidelines that prevent financing for overseas power plants that decline to adopt greener technology.
Bank officials adopted the policies, which included exemptions for the world's poorest nations, in December amid the Obama administration's broader push to address climate change.
Up until now, coal-state Democrats such as Sen. Manchin (D-W.Va.) have lacked political leverage to fight back.
But that’s changing thanks to the looming Sept. 30 deadline to reauthorize the 80-year-old bank. Opponents of the power plant guidelines are seizing on the time crunch to win concessions....