Obama uses Signing Statement to give 6 billion to U.S/Asia Pacific Partnership For A Sustainable EnergySubmitted by go213mph on Tue, 11/20/2012 - 20:35
Who here thinks its in the best interest of the US to hand out at least 6 billion dollars to help other countries design or upgrade THEIR infrastructure when the infrastructure in our own country needs signifigant upgrades and repairs?
From Signing Statement"
"We will engage with the private sector as well as partner countries in the region to determine specific projects within these four priority areas. We will work closely with the World Bank and the Asian Development Bank to enhance their work in the region on these issues. With an estimated $9 trillion needed in investment in electricity alone through 2035 to meet growing demand in the region, there is enormous potential for U.S. industry to play an important role in the region’s energy future."
The United States will provide up to $6 billion to support the Partnership including:
• The Export-Import Bank of the United States will launch a program to make available up to $5 billion in export credit financing to eligible countries in the region over the next four years to increase access to American technology, services and equipment for the implementation of energy infrastructure projects;
• OPIC (Overseas Private Investment Corporation) will provide up to $1 billion in financing for sustainable power and energy infrastructure projects.
• U.S. Trade and Development Agency (USTDA) will support programs in partner countries in the areas of power generation, power distribution modernization, assistance with upgrading grid efficiencies to accommodate renewable power, and unconventional gas development.
• The U.S. State Department will oversee a $1 million energy capacity-building fund to support partnership activities via project preparation and technical assistance.