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February 06, 2008

One more: three major banks to tighten financing on coal fired power plants:

Three top lenders, believing the government will impose greenhouse-gas emissions caps in the future, want utilities seeking financing for coal-fired plants to ensure they’ll be viable with such caps:
Citigroup Inc., J.P. Morgan Chase & Co. and Morgan Stanley say they have concluded that the U.S. government will cap greenhouse-gas emissions from power plants sometime in the next few years. The banks will require utilities seeking financing for plants before then to prove the plants will be economically viable even under potentially stringent federal caps on carbon dioxide, the main man-made greenhouse gas.

Question: Will presidential candidates, including would-be GOP nominee John McCain, who in the past has admitted near-cluelessness on economics issues, pay attention?

Remember, FutureGen carbon-sequestered coal-fired power plants are just as much “just around the corner’ as the hydrogen car or nuclear fusion power.

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