Friday 20th of September 2019

real smoking guns .....

real smoking guns .....

 

‘Wearing hats shaped like smokestacks and carrying signs that said, "Coal Investments Cook the Climate," a group known as Billionaires for Coal raised awareness last week about the plans by TXU, a Dallas-based utility company, to build 11-new pulverized coal-fired power plants in Texas.

The activists delivered suitcases of coal, but the recipient of their gift was not TXU and they were a long way from Texas. Instead, their action took place in New York's financial district where they visited the headquarters of Merrill Lynch -- a company that is putting coal and profits above human health and climate change.

Merrill Lynch is one of three major financial institutions, along with Morgan Stanley and Citigroup, that have agreed to arrange the needed $11 billion to finance TXU's plants.

If TXU secures the necessary money and permits, their 11 plants will produce 78 million tons of CO2 emissions each year for the expected 50-year lifespan of the plants.

Let's put that number in perspective. According to Environmental Defense, TXU's projected output of 78 million tons of CO2 a year is more than entire countries, such as Sweden, Denmark, and Portugal. It is also the equivalent of putting 10 million Cadillac Escalades on the road or cutting and burning all the trees in a section of the Amazon the size of over 9 million football fields -- larger than the state of California.

"This is the U.S. and its insanity at its very greatest. We are facing a climate crisis," said Brianna Cayo Cotter of RAN. "We are standing at the edge of a cliff and this is the sort of project that just pushes us over."’

Who's Funding Global Warming?