Well, this is exciting. The big new coal power plant planned for Eastern South Dakota has been scrapped, due to insufficient investment. Is the invisible hand of capitalism finally working? Of course not. Though it may have stirred up the air a bit. Big Stone II's biggest investor, Otter Tail (oh the irony of animal imagery with ecosystem-destroying investments) pulled out not only because of the (now, of course, over) recession, but "the Minnesota company also said it was unsure how the debate over global warming would affect coal plants like Big Stone II."
Lost? Jobs, of course. But only 45 permanent positions; over a thousand estimated construction jobs. Does it suck for the region? Yes. Why am I celebrating this? Because the construction of this plant would suck more for the region, and the rest of us.
Coal powered plants account for more than 40% of all air toxins, including 40% of all CO2 emissions; a third of all mercury emissions; lead, arsenic, and other scary toxins. Waste is stored in abandoned mines and impoundment ponds, which are vulnerable to leakage - often into locals' aquifers and drinking water.
And don't get me started on the damage inflicted by coal mining itself.
Full story here.
Part of an excellent series the NY Times ran on environmental issues: coal-poisoned water in West Virginia.
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