Last century? 19th century? |
I expect I will be highlighting Maffly's work frequently on this site. He has the legislator's number and does a good job exposing their antics. That said I am a little surprised how gentle Maffly's words are. He keeps the gloves on. It took me a second read of his article to see he was accusing the actors involved in a $53 million loan of public money to the state's private coal industry of working with a blatant conflict of interest and in bad faith. For example, Jeffrey Holt, who stands to gain up to $3 million of the loan as a personal incentive fee also chaired the Utah Transportation Commission, which prioritizes projects for public funding. Holt and his crew are working to get public funding for their private gain for two projects, one a new rail line to haul the coal and two, a new port in Oakland to load the coal on ships to send to China.
Coal is Old West. Bloomberg News reported a year ago that Beijing will close the last of its four major coal-fired power plants this year.
Brooke and Terry Tempest Williams are New West. The future belongs to clean energy and those who recognize this simple economic fact will be those who benefit most. It is unfortunate for Americans that virtually the only people on the planet who don't believe it are U.S. Republicans. The Republican legislators, particularly in Utah are funded by the energy industry. The industry knows the facts, but a basic failure of capitalism stems from what economists call an "externality." An externality is where someone else other than the producer bears the cost of production, in this case the cost of pollution. In order for the public to put up with the costs, the industry lavishly funds willing legislators to promote their business and, say, make them $53 million dollar loans with taxpayer funds. Brooke and Terry have a brilliant strategy to use the energy of New West thinkers to keep the Old West energy in the ground. #keepitintheground And Brooke and Terry are using their own money.
I want to say much more about this in future posts. For now, consider quickly the graph below. But before you look, given how much time and energy politicians like Utah Governor Herbert or Rep. Rob Bishop spend promoting extractive industry, what percentage would you think it makes up of Utah's economy? Are you surprised that all of agriculture, natural resources, and mining (which includes oil and gas) only add up to 3.8 percent? Extraction is Old West.