Victory Against New Coal Plants


coal.jpg
The Texas-based utility company TXU’s plans to build 11 new coal plants, with funding from firms such as Merrill Lynch, have been scuttled. Two equity firms will buy TXU under terms that include trashing the controversial plans. The group Billionaires for Coal had staged protests outside Merrill Lynch offices last week. At about the same time, equity firms entered into negotiations with environmental heavyweights National Resources Defense Council and Environmental Defense, asking the groups what it would take for them to support the buyout. TXU will instead look to develop cleaner energy holdings. The New York Times is touting the deal as a beacon of what financial dealings may look like in “a regulatory and public-relations landscape in an era of climate change.”

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2019 demands.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate