"An agency inside the Obama administration poured billions into fossil fuel projects that will lead to global carbon emissions on a damaging scale".
"President Barack Obama has staked his legacy on the environment, positioning his administration as the most progressive on climate change in US history.
However, an obscure agency within his own administration has quietly spoiled his record by helping fund a steady outpouring of new overseas fossil fuel emissions – effectively erasing gains expected from his headline clean power plan or fuel efficiency standards.
Since January 2009, the US Export-Import Bank has signed almost $34bn worth of low-interest loans and guarantees to companies and foreign governments to build, expand and promote fossil fuel projects abroad."
Asaf Shalev, Michael Phillis, Elah Feder and Susanne Rust report for the Guardian November 30, 2016.
SEE ALSO:
"Taking a More Comprehensive Look at Coal Subsidies" (DeSmog)
"Obama's Dirty Secret: The Fossil Fuel Projects The Us Littered Around The World" (Guardian)
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