Hillary Supported, Associates Profited Ex-Im Bank Financing World’s Largest Coal Plants in S/A

[KoKo]

Last edited Thu Mar 10, 2016, 09:16 PM - Edit history (1)

Hillary Clinton Showed Support, Associates Profited from Ex-Im Bank Financing World’s Largest Coal Plants in South Africa

By Itai Vardi • Monday, March 7, 2016 - 04:58

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Ex-Im Bank’s Ties to Hillary Clinton

In 2009, the South African government announced a major energy plan to construct two new coal-fired power stations. The project, which aimed at building the world’s largest coal plants, came under intense criticism by various governments and climate activists, who saw it as a disastrous blow to the fight against climate change.

Yet newly released emails from presidential candidate Hillary Clinton during her time as Secretary of State, reveal that she acted in support of a World Bank loan for the construction of one of the plants.

Furthermore, a DeSmog investigation finds that the other plant, which received funding from a US government agency led by a close Clinton ally and fundraiser, is being built by an American construction firm tied to another associate of the former Secretary.

These actions seem contrary to Clinton’s tough campaign talk on curbing CO2 emissions and investing in renewable energy. They also raise new questions about Clinton's ties to the revolving door lobbying culture that connects major corporations to top officials in Washington, DC.

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The Ex-Im Bank is headed by Fred Hochberg, a longtime Clinton family associate, financial contributor, and campaign bundler. Hochberg’s partner, Tom Healy, was nominated during Clinton’s tenure as Secretary to the Fulbright Foreign Scholarship Board, a State Department body. Between 2012-2014 Healy served as Chair of the Board.

Hillary’s emails during these years reveal her close connection to both Hochberg and Healy. In February 2012, one of Clinton's daily schedules includes attending Hochberg’s 60th birthday party at the upscale DC dining spot, Sidra’s Home Restaurant.

A few months later Hochberg extended a personal invitation to Clinton to attend a friend’s book launch. Hochberg then sent a happy birthday wish to Hillary, signing with “Much love, Fred.” Tom Healy sent his own personal birthday note that year, adding “I didn’t get to say hello in Haiti on Monday because the rain started and we rushed to the airport.”

In 2014, The Ex-Im Bank announced the appointment of new members to its Sub-Saharan Africa Advisory Committee. Former ambassador Gips, and Shahid Qadri, Black & Veatch’s Vice President and Regional Director Africa, were among them.

Two years ago, Mother Jones revealed how under Clinton, the State Department exported oil and gas fracking technologies to the rest of the world.

It’s clear that Clinton’s policy toward coal, the dirtiest of fossil fuels, requires similar scrutiny.

http://www.desmogblog.com/2016/03/07/hillary-clinton-showed-support-associates-profited-building-world-s-largest-coal-plants-south-africa

[SamKnause]

1. Is there no pot that her sticky little fingers have not been in ???

How much is enough ???

There is something very wrong with people who make money at the

expense or well being of others.

There is something very wrong with people who are only concerned

in increasing their fortunes.

She is a TERRIBLE role model for anyone with morals or principles.

[Wilms]

2. ^

[KoKo]

3. More at the Link:

On March 31st, 2011, Johnnie Carson, Assistant Secretary of State for African Affairs, first sent a message to Jacob Sullivan, Clinton’s Deputy Chief of Staff, relaying the request from the South African Foreign Minister, Maite Nkoana-Mashabane. After some back-and-forth between Carson, Sullivan and Huma Abedin, another close Clinton aide, on the scheduling of the call, Sullivan told Abedin he has spoken to US Ambassador Gips.

Sullivanreported heavy “traffic” at the embassy, meaning a large volume of communication between the US and the South African government, saying that the embassy’s Deputy Chief of Mission, Helen La Line, has been “frenetically engaged with the South African MFA [Ministry of Foreign Affairs].” Sullivan added, “Hormats and Lew are negotiating with the Treasury,” referring to Robert Hormats, then Under Secretary of State for Economic, Business, and Agricultural Affairs, and Jack Lew, at the time Deputy Secretary of State for Management and Resources.

On the following day, Secretary Clinton joined the email chain, asking “Who is acting for So Africans in response to our mitigation concerns?”, to which Sullivan replied “Their Minister of Finance is their lead interlocutor.”

Two hours later, Clinton wrote to Sullivan again, updating that she has now talked to South Africa’s Foreign Minister. Clinton said: “she made the point that Zuma [several words then redacted] and they intend to use variety of energy sources in the future but this project is essential to deliver electricity – which I think our experts agree is right.” [Emphasis added].“Zuma,” of course, is Jacob Zuma, the President of South Africa.

The closing sentence of the message is redacted.

Seven days later, The World Bank approved the huge loan. The United States, along with the UK and Holland, abstained during the vote.

Climate activists blasted the Work Bank for the loan, but many also criticized the US for abstaining rather than trying to block the decision.

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The Kusile Plant Decision

To construct the Kusile coal plant, South Africa sought a different funding route, now eyeing private capital.

To this end, in 2010 Eskom solicited its main contractor for the plant, Kansas City-based infrastructure engineering and construction company Black & Veatch to apply for financing from the US Export-Import Bank (Ex-Im Bank). As an independent government agency, the bank invests in projects that guarantee the employment of American workers and suppliers.

In April 2011, the Ex-Im Bank approved the $850 million loan for the Kusile plant — again to the great dismay of environmentalists. The decision came despite more than 7,500 public comments in opposition to the project. Activists were baffled as to why the governmental bank approved the loan for the controversial project.

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http://www.desmogblog.com/2016/03/07/hillary-clinton-showed-support-associates-profited-building-world-s-largest-coal-plants-south-africa