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Federal Loans Finance New Coal Plants
Posted on May 22, 2007
An antiquated, Depression-era, federal loan program is using billions of tax-payer dollars to finance low-interest loans for new coal plantsIn a perfect example of conflicting agendas, as Congress considers new legislation to battle global warming, a Depression-era program to help electrify rural areas is still providing low-interest loans to rural electric cooperatives to build new coal-fired power plants.This government program, often the only source of financing for rural coops with less than perfect credit ratings, is a major force behind the rush to build dozens of new coal plants in the ...
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