Hillbilly Report Glendale, Kentucky http://www.hillbillyreport.com/ June 21, 2007 For information about coal to liquid click here. For information about Peabody Energy Corp. click here. Peabody Energy Corp. share holders want our tax dollars to help them make money with little or no risk. Rick Bowen of Peabody Energy Corp. wrote the following to Gov. Ernie Fletcher. “This summer, Peabody Energy intends to make a major decision regarding development of this project and its location. In doing so, Peabody must protect our shareholders by minimizing the cost of the project.” A plan unveiled last week at a state energy subcommittee hearing in Muhlenberg County would offer $315 million in tax incentives over 25 years to a $2.5 billion coal-to-liquid plant. I suggest it’s not Governor Ernie Fletcher’s job to protect Peabody share holders with my tax dollars. If I want to invest in Peabody Energy Corp., I’ll do it in the free market and Governor Ernie Fletcher and all his pals in Frankfort are free to do the same. How can this Governor, in good conscience, even think about subsidizing Peabody Energy Corp. with our tax dollars when people in Pike County, Kentucky still have to carry water in 5 gallon buckets? If Peabody Energy Corp. is so hard up for money, the Governor might consider giving Peabody some of the money he has in his secret legal defense fund!!!!
Glendale, Kentucky http://www.hillbillyreport.com/
June 18, 2007 The United States of America doesn’t need another Dick
Cheney Energy Task Force. We don’t need a money grubbing coal company like
Peabody to take our tax dollars and give us CTL. The United States of America needs some real leadership. We
did it in 1941 with the Manhattan Project. We did it again in 1961 – JFK “I
believe that this nation should commit itself to achieving the goal, before this
decade is out, of landing a man on the Moon and returning him safely to the
Earth. No single space project in this period will be more impressive to mankind
or more important in the long-range exploration of space; and none will be so
difficult or expensive to accomplish.”
America is craving for that kind of leadership and that kind of challenge. The
likes of Halliburton, Exxon, Peabody, etc. have no real interest or incentive to
take us to where we need to be, when it comes to energy efficiency or energy
independence and they need to be left out of the process.
MyDD Matt Stoller
Coal industry lobbying has reached a fever pitch. The industry spent $6 million
on federal lobbying in 2005 and 2006, three times what it spent each year from
2000 through 2004, according to calculations by Politicalmoneyline.com.
Peabody, which has quadrupled its annual lobbying budget to about $2 million
since 2004, recently hired Richard A. Gephardt, the Missouri Democrat who was
House majority leader from 1989 to 1995 and a candidate for the Democratic
presidential nomination in 1988 and 2004, to help make its case in Congress.
One of the most vociferous champions of coal-to-liquid fuels is the Southern
States Energy Board, a group organized by governors from 16 states. Last year,
the group published a study, which cost $500,000, that concluded that
coal-to-liquid fuel could and should replace almost one-third of imported oil by
As it happens, the coal industry supplied much of the financing for the study
and subsequent marketing. Peabody Energy contributed about $150,000 and the
National Mining Association added $50,000, officials at the Southern States
Energy Board said.
The inducements under discussion would not only subsidize up to 10
coal-to-liquid plants, but also guarantee a minimum market through long-term
contracts with the Air Force and minimum prices for at least some producers.
"There is financial uncertainty, which is inhibiting the flow of private capital
into the construction of coal-to-liquid facilities," said Mr. Boucher, who
supports most of the proposals and is drafting portions of the energy bill.
In addition to construction loan guarantees, Mr. Boucher would protect the first
six liquid plants from drops in energy prices. If oil prices fell below about
$40 a barrel, the government would automatically grant loans to the first six
plants that make coal-based fuels. If oil prices climbed to $80 a barrel,
companies would have to pay a surcharge to the government.
Peabody is one of the most aggressive union-busting outfits out there. Over the
last fifteen years,
the company systematically shut down union mines and replaced production
with non-union mines. Right now, there's a Justice at Peabody
campaign aimed at mines in Illinois, Indiana, Kentucky,
Ohio, Tennessee and West Virginia.
John Kerry – BMG
“We weren't elected to be like Republican Congresses of the past, only a little
more progressive. No -- if we merely tinker around the edges of energy policy or
climate change, or write an energy bill indistinguishable from the ones we
criticized Republicans for passing--then we have not earned our majority. The
energy bill the last Congress passed was a hollow exercise masquerading as a new
direction while giving the majority of the spoils to the same old special
interests. It had no guiding national goal, no tough decisions, no change in
priorities--just a collection of logrolling, back-scratching subsidies for any
industry with the clout to get a seat at the table and a share of the pork.”