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The coal terrorists are able to demand subsidies not because of their poor workers (they are in fact laying off lots and lots of workers as a side effect of mer
by Kliment 8y ago
The coal terrorists are able to demand subsidies not because of their poor workers (they are in fact laying off lots and lots of workers as a side effect of mergers, and their total employment is just several thousand people) but because a lot of local government is funded by coal company shares held by cities. This is why coal is still a thing.
- bogomipz 8y ago>"a lot of local government is funded by coal company shares held by cities." Do you have a citation for this? What are examples of the many local governments that are funded by coal company shares? How do you fund a local government by buying shares in a coal company? Coal is "still a thing" because it is incredibly abundant and despite being horrible for the environment, burning it is a thermally efficient means of creating steam to turn a turbine.
- Kliment 8y agoOver here, in Germany, specifically NRW, it's quite literally true - a bunch of local councils hold a lot of RWE (local coal company) shares and fund local services from dividents. They were very upset a couple years back when RWE decided not to pay out dividents. Here's a news article from back then (in German) https://www.welt.de/wirtschaft/energie/article152907251/Warum-klamme-Staedte-auf-ihre-RWE-Dividende-verzichten.html https://www.welt.de/wirtschaft/energie/article152907251/Waru...
- bogomipz 8y agoOh interesting, were these stocks originally purchased with tax payer money then?