Rupert Darwall is the author of “Green Tyranny.”
We’ve just entered the 21st month of Donald Trump’s presidency. While the president is ending his predecessor’s war on coal at home, American taxpayers are still funding Barack Obama’s war on coal abroad. That’s bad news for US taxpayers, trade — and national security.
In 2013, President Obama ordered the Treasury Department to use its representation on the World Bank, where the US is the largest funder, and other multilateral development banks to veto funding for coal-fired power stations. That year, the World Bank formalized a near blanket ban on coal. Last year, it extended the ban to the funding of oil and gas projects as well.
China is the big winner here. It dominates the solar-power industry. Nine out of the world’s top 10 solar companies are Chinese-controlled.
Just as important, access to cheap electricity is the single best way of boosting economic development in poor countries. Developing nations’ need for coal generation doesn’t go away simply because the World Bank refuses to fund it. Instead, they turn to — guess who? — China.
Indeed, across the board, the West is in danger of ceding development and influence to China: China is spending $1.3 trillion to build transportation and energy projects from the Indo-Pacific through east Africa and Eastern Europe.
For the rest of this article: https://nypost.com/2018/09/23/the-war-on-coal-is-a-winner-for-china/