Can't afford Kyoto? The oil and banking sectors made record profits - $58Billion in the third quarter alone - but refuse to get on board with reducing emissions that cause global warming. Some economists say there will be positive financial outcomes from embracing alternative energy projects, so it might not cost them anything... but if it did they can afford it >>> $58Billion, times four, is over $230BILLION per year...profit, not just income....
Coal has become one of the world's most profitable products, whether it is just exported or if they make electricity by burning it. This would not be the case except for the tax holidays/royalty rebates and other forms of corporate welfare applied to the coal industry.
If those kinds of subsidies were given to wind and solar power projects then those bankers could make profits from clean energy instead. Its really quite silly to still have those coal emissions at this late stage in the global warming era.
If we in North America do not get around the coal burning for electricity how can we expect China to do it? China builds about 40 coal-fired generators every week now.... We could ask them to stop doing that if we had a viable alternative working in our back yards, but as it is we do not have a leg to stand on. By choice.
link -
"Corporate Profits Driven by Oil Refining, Banking sectors" -
http://www.cbc.ca/money/story/2006/11/23/corpprofits.html
Coal has become one of the world's most profitable products, whether it is just exported or if they make electricity by burning it. This would not be the case except for the tax holidays/royalty rebates and other forms of corporate welfare applied to the coal industry.
If those kinds of subsidies were given to wind and solar power projects then those bankers could make profits from clean energy instead. Its really quite silly to still have those coal emissions at this late stage in the global warming era.
If we in North America do not get around the coal burning for electricity how can we expect China to do it? China builds about 40 coal-fired generators every week now.... We could ask them to stop doing that if we had a viable alternative working in our back yards, but as it is we do not have a leg to stand on. By choice.
link -
"Corporate Profits Driven by Oil Refining, Banking sectors" -
http://www.cbc.ca/money/story/2006/11/23/corpprofits.html
