Does the President’s Jobs Policy Conflict With His Climate Policy?

Question: Is the President’s jobs policy tanked by his climate policy?

In Nov. 2007, you interviewed Tim Sullivan, CEO of Bucyrus, regarding his decision to keep equipment manufacturing jobs in U.S. Late last week, the U.S. Ex-Im bank denied financing to Reliance Power (India) for $600 million worth of coal mining machinery from Bucyrus.

Ex-Im Bank cited Obama Administration policy on climate as reason. The coal-based power plant is already financed and will use state-of-the-art pollution control. Without Ex-Im Bank financing, the Chinese can provide better terms to Reliance for purchase of equipment. This has become political hot button in Wisconsin — 1,000 jobs (steelworkers) at stake.

Disclosure: Bucyrus is a member of National Mining Association, my employer.

Paul Solman: “Tanked”? That seems a bit harsh. I think the most honest answer is that of course coal plants and climate control are in conflict. Even state-of-the-art coal plants at the present. If you and I wanted to open a new state-of-the-art coal plant, Carol — right here in America, say — we’d be adding jobs. The jobs would be in conflict with climate concerns about coal.