Another massive coal subsidy from President Obama 

You know how President Obama is always talking about ending subsidies for oil. Notice how he usually doesn't talk about coal (even when he's talking about electricity, which we do get from coal and not from oil)?

I noticed this a year ago, after Obama's stimulus included a billion dollar earmark for big coal. The man is from Illinois, after all.

Well, the Export-Import Bank of the United States -- technically an independent agency, but with a board appointed by Obama -- just approved a massive subsidy for a coal plant in South Africa. From Bloomberg:

Black & Veatch Corp. won preliminary approval for $805.6 million in financing from the U.S. Export-Import Bank for a coal-fired power plant in South Africa, a move that drew criticism from environmental groups.

Yes, U.S. greens are not happy about all these carbon emissions they'll be paying for. But the U.S. business profiting from this subsidy also caught my eye. You might have missed this story:

After poor marks and stern warnings about cost overruns and delays on a generating plant near Kabul, Overland Park-based Black & Veatch still landed a $266 million no-bid contract to beef up electrical power in southern Afghanistan.

I know it's cliched, but just imagine if this had happened under George W. Bush.

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Timothy P. Carney

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