Behind the scenes, the coal industry is lobbying the government to guarantee 25 years of liquid coal purchases by you, the taxpayer.
Don't get ripped off - Sign the Petition!
Tired of the parade of stories in which our military is used as a slush fund to reward politically connected contractors and businesses? Well hold on for another outrage.
While we defeated some bad coal to liquid provisions in the House and Senate energy bills, a report just out in the Wall Street Journal reveals the industry's new strategy to saddle taxpayers with this foolish venture's financial risks: Coal companies are trying to exploit national security concerns to make the military a guaranteed liquid coal buyer for the next quarter century.
[If you're not already aware of why liquid coal is bad, see our liquid coal fact sheet.]
As with so many military expenditures, this is less about national security and more about economic security for a well-connected industry. In fact, Peabody Coal's CEO, Greg Boyce, didn't even try to hide the fact that he wants federal welfare for something the free market just won't support. While explaining why he needs military largess to build coal-to-liquid plants, Boyce said: "Lining up the $8 billion worth of capital without baseload off-take agreements is a challenge."
Translation: the free market won't pay four times more than usual to make fuel that produces twice the global warming pollution as usual, so I need 25-years of guaranteed taxpayer purchases.
Don't allow our federal funds to be used as startup costs for an unneeded and unwanted industry. People like CEO Boyce are simply taking a cue from others and using national security concerns to land that perfect investor - the kind who will never be owed dividends - the American taxpayer.
Sign our petition to the Senate and House Armed Services Committees telling them not to force the military to be a crutch for a liquid coal industry. We'll copy the Secretary of Defense and allow you to put in your own comment.
You probably already know why liquid coal is a dumb idea ecologically, socially and economically, but if you need a reminder, check out our fact sheet. Friends of the Earth is not used to advocating for petroleum, but in this case it's a no brainer if liquid coal is the only other option.
Sign the petition now, and tell your coal-fearing friends to do the same.
Erich Pica,
Friends of the Earth
Friends of the Earth
1717 Massachusetts Avenue NW, Suite 600
Washington, DC 20036
(202) 783-7400
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