In my article “Anthropogenic Global Warming: Is there a consensus?”, I said some were claiming that the Global Warming alarmists were already holding back development in Africa. Here some proof of that claim from the Seattle Post-Intelligencer:
The federal government on Friday settled a lawsuit that accused two U.S. agencies of financing energy projects overseas without considering their impacts on global warming.
The Export-Import Bank of the United States and the Overseas Private Investment Corp. agreed to provide a combined $500 million in financing for renewable energy projects and take into account greenhouse gas emissions associated with projects they support.
The lawsuit was originally filed in San Francisco federal court in 2002 by Friends of the Earth, Greenpeace and four cities that claimed they would suffer environmental and economic damage from global climate change. …
The plaintiffs alleged the two agencies provided more than $32 billion in financing and loan guarantees for fossil fuel projects over 10 years without studying their impact on global warming or the environment as required by the National Environmental Policy Act.
The projects included a coal-fired power plant in China; a pipeline from Chad to Cameroon; and oil and natural gas projects in Russia, Mexico, Venezuela and Indonesia. Many of the projects are well under way or already completed. [Emphasis mine]
Said the Friends of Earth spokes woman, Michelle Chan: “This settlement is a substantial victory for our climate. It will force federal agencies to move away from fossil fuel projects and account for the climate impacts of their lending.” I see two effects of this kind of judicial ruling: (1) It will help to bankrupt companies and banks who want to invest in development projects in Africa; (2) It is a disincentive for future investment, particularly in energy development projects which are necessary to improve the standard of living in Africa. Pour vous les africains, alors tant pis!
Hat tip: My favorite legal expert from the American Thinker, Clarice Feldman:
A portion of this settlement will certainly go to the “public interest” groups which brought this litigation, insuring they will continue to press for damages for “global warming”.
Real money being paid out on account of make believe science where the real agenda is to force the end of fossil fuels, the only reliable source of energy in the face of the environmentalists’ destruction of the nuclear power industry.