“China still has quite a big demand for electricity. The government now supports regions with poor wind and solar resources to use coal-fired power … it’s a more practical measure, as gas is still too expensive,” said Xiao.
Time Magazine ‘Hero of the Environment’ Michael Shellenberger on Tom Styer: "Head of Sierra Club calls billionaire fossil fuel magnate turned megalomaniacal Democratic presidential candidate 'another climate champ.' Not the Onion, sadly.
NYT: Over the past 15 years, Mr. Steyer’s fund, Farallon Capital Management, has pumped hundreds of millions of dollars into companies that operate coal mines and coal-fired power plants from Indonesia to China, records and interviews show. The expected life span of those facilities, some of which may run through 2030, could cloud Mr. Steyer’s image as an environmental savior and the credibility of his clean-energy message, which has won him access to the highest levels of American government. Together, those mines have increased their annual production by about 70 million tons since they received money from the hedge fund, according to corporate records, government data and interviews with industry experts...
That is more than the amount of coal consumed annually by Britain. “I am disappointed, I have to say,” said Dale Jamieson, a professor of environmental studies at New York University, who said he admired Mr. Steyer’s campaign to curb climate change. When it comes to large-scale investments in coal, Professor Jamieson said, “you can’t undo what you’ve done in the past.”