“Export-Import loans have been particularly controversial because of prior expropriations of U.S. oil company property by beneficiary governments. Mexico’s nationalization of U.S. oil properties in 1938 was followed by a loan of $30 million for roads in 1941, a $10 million refinery loan in 1943, and a $150 million loan for general development in 1950. A 1946 loan of $5.5 million to Bolivia for production, refining, and pipeline expenditure followed nationalization a decade before.”
The Export-Import Bank (Ex-Im) was created by Executive Order 658l (February 2, 1934) to “facilitate exports and imports and the exchange of commodities between the United States and other nations or the agencies or nationals thereof.” The bank could borrow, lend, guarantee debt, and “do a general banking business” with its $700 million budget. (See Appendix below for a description of the agency today.)…
Continue Reading“There’s nothing that does so much harm as good intentions.”
“Concentrated power is not rendered harmless by the good intentions of those who create it.”
– Milton Friedman
On May 24, 2015, Pope Francis issued his ENCYCLICAL LETTER LAUDATO SI (Praise Be To You) OF THE HOLY FATHER FRANCIS ON CARE OF OUR COMMON HOME.
The 184-page letter consists of 246 paragraphs of which seven (paragraphs 20–26) are devoted to POLLUTION AND CLIMATE CHANGE. This document followed a one-day conference, Protect the Earth, Dignify Humanity: The Moral Dimensions of Climate Change and Sustainable Development, to which The Heartland Institute and Committee For A Constructive Tomorrow (CFACT) sent scientific representatives. Unfortunately, they were not allowed to speak at the conference; but they created sensational news across the world by well attended press conferences.…
Continue ReadingThe Alliance for Wise Energy Decisions (AWED) is an informal coalition of individuals and organizations interested in improving national, state, and local energy and environmental policies. Our premise is that technical matters like these should be addressed by using Real Science (please consult WiseEnergy.org. for more information).
A key element of AWED’s efforts is public education. Towards that end, every three weeks we put together a newsletter to balance what is found in the mainstream media about energy and the environment. We appreciate MasterResource for their assistance in publishing this information.
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Some very good articles in this issue are:
What’s the cost of CO2 emissions abatement with wind turbines?
The Poor Need Affordable Energy
Study: Globally Coal Growing Faster than any other Energy Source
The Difficulties Of Powering The Modern World With Renewables
Lessons from Europe: Recipe for a high-cost energy system
Is the European Renewable Energy Bubble About To Burst?…
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