If Obama and his republicans have taught us anything it is that economic activity can be created if you don’t care about the consequences. In the environment’s case it called liquidating your endowment for a one time economic shot in the arm – today - while ignoring the stream of offsetting costs that will bankrupt the government in the future (that is if the government even chooses to help the masses!)
So much like a foolish Trust fund baby sick and tired of living on interest alone year after year our leaders lunge to spend the underlying principal. In this case the principal is the People’s endowment of natural resources and once you render those resources incapable of producing , well, you’ll pretty much loose interest in living on earth!
Now we have Peabody Coal. Peabody wants to build a mega export facility in Washington State to ship cheap American Coal to China. Peabody will make zillions of dollars in profit giving China a cheap energy source that will fuel fantastic economic growth in China. China doesn’t care about the consequences of burning coal. The Chinese energy companies that will be burning the coal don’t terribly worry about the cost of burning coal. The cost of China burning cheap coal is socialized over the entire planet. And as far as the Chinese government worrying about the welfare of the non-elite….well they are getting as bad as America.
The Cost of Energy is just like any other business cost. It is a cash outlay. And like all cash outlays in a business it limits what you can do to make money. Peabody giving the Chinese cheap coal that they will burn without recognizing the cost will be a tremendous boom to Chinese businesses. It will help them make profits and expand their operations. Peabody Coal’s exports to China will boost China’s economic ascendency and create jobs in China. It will help irresponsible socially-expensive coal burning Chinese firms out compete American firms. American firms will realize this and may move their energy intensive manufacturing and other jobs to China where they can operate using coal regardless of the future it straddles the People with.
Peabody Coal is not very loyal to America. They don’t have to be to make a profit. They just need to order Obama to make the People of America live with the consequences of their coal mining while the bolster the economy of our Chinese competitor. Peabody Coal is unpatriotic yet Obama doesn’t stop them because he and his Party can get campaign contributions from this scam perpetrated against the American People.
The Amy Corp of Engineer’s needs to Stop Peabody Coal and SS Marines’ construction of the mega coal export harbor. It is unpatriotic and leaves the American People bearing the bulk of the cost of fueling China’s economic success.
(And for the love of god don’t tell me that China’s economic success will translate into our economic success)