July 3, 2012 – (via 2degreesnetwork) Despite what the coal industry would have you believe, the days of cheap, affordable coal fired power are over. That’s the conclusion of the Sierra Club’s most recent report Locked In (http://bit.ly/Mzd5I0 ), which analyzes the wide array of financial risks coal plant investments face. We decided to look into these risks because while the environmental and human health impacts of coal plant investments are increasingly well known (http://bit.ly/JVa3LH ), the financial impacts are not. What we found was eye opening – some of the world’s largest coal plants on the verge of bankruptcy (http://bit.ly/q4iGQU) and an emerging ‘Organization of Coal Exporting Countries’ (OCEC) on the rise. As the title of our report suggests, avoiding locking ourselves into this risky environment is tremendously important because social and environmental damages aside – new coal plants are just lousy investments. Continue reading>>
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