[dude1394]

You go Barry...Probably they weren't union jobs.

U.S. agency's action may kill Bucyrus deal, cost 1,000 jobs

Export-Import Bank denies loan guarantees for coal project in India

By Rick Barrett of the Journal Sentinel
Posted: June 26, 2010 |(191) Comments
Wider impact
Bucyrus has 250 suppliers in Wisconsin that employ 15,000 people

Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.
About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana.
On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.
The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.
"President Obama has made clear his administration's commitment to transition away from high-carbon investments and toward a cleaner-energy future," Export-Import Bank Chairman Fred Hochberg said in a statement. "After careful deliberation, the Export-Import Bank board voted not to proceed with this project because of the projected adverse environmental impact."
The bank's decision is puzzling, Sullivan said, because the power plant will meet international standards and the bank's environmental criteria.
The plant is under construction in Sasan, central India, and is scheduled to be up and running in 2012. Coal mining will take place for the plant whether it's done with Bucyrus machines or equipment from China and Belarus, Sullivan said.
"Unless the Obama administration jumps all over this and corrects a wrong fairly quickly, I am confident this business is going elsewhere," Sullivan told the Journal Sentinel on Saturday.
"The bank's decision has had no impact on global carbon emissions but has cost the U.S. nearly 1,000 jobs," he added.
The Export-Import Bank would not elaborate on the board's 2-1 vote - including Hochberg's - to deny the loan guarantees.
The U.S. State and Treasury departments recommended against making the loan guarantees. Neither agency could be reached for comment Saturday.