"A powerful idea: American Energy Independence"

No Financing from the US to Developing Countries for Coal Plants

“The Treasury Department declared it would no longer support any new coal-fired power plants around the world. By leading a coalition of like-minded countries including several European ones that have already announced similar intentions, they will effectively be able to block the World Bank and other international development banks from providing financing for new coal-fired plants. The policy is unlikely to amount to any real change as 75 percent of proposed coal-powered plants are in China and India, which do not rely on outside financing. It seems to me that the poorest, most underdeveloped nations that contribute the least to global emissions are the ones getting the short end of the stick from this policy.” Read it...

Good Times to Return for Coal Miners

Walter Energy (WLT) is among the leading U.S. met coal producers. Recently, the company has been struggling to post a decent financial performance due to soft coal market conditions. Also, growing debt and liquidity concerns have taken a toll on the stock price; WLT’s stock is down 63% YTD. However, the company has been taking corrective measures to improve its financial flexibility and boost its liquidity position. Also, I believe met coal markets will improve in the future, which will bode well for the company....

Coal in the Balance

The government shutdown may be having an effect on the EPA’s drive to finalize a new regulation aimed at shutting down coal-fired power in the United States, but maybe not.  After all, given that the EPA essentially farms out much of its regulatory design to environmental groups, the Sierra Club and NRDC may be prepared to hand the finished regulation over when the shutdown ends.  Nothing like having private-sector adjuncts for the administrative state. Read full story here.

Supreme Court To Review EPA Climate Rule

This could amount to something! Watch this space.

Canadian Firm Hired to Build Troubled ObamaCare Exchanges

A Canadian tech firm that has provided service to that country’s single-payer health care system is behind the glitch-ridden United States national health care exchange site healthcare.gov. CGI Federal is a subsidiary of Montreal-based CGI Group. With offices in Fairfax, Va., the subsidiary has been a darling of the Obama administration, which since 2009 has bestowed it with $1.4 billion in federal contracts, according to USAspending.gov. Read the sad story here.