Word: coal
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Dates: during 2000-2009
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...Shares of the company's oldest fund, O'Leary Global Equity Income Fund, which was launched in 2008, have plunged nearly 24% in the past year. Next, there's the truth-in-advertising problem: O'Leary calls himself an "eco-preneur," but many of the funds' investments are in coal companies and other large polluters. An O'Leary Funds representative declined to comment on the performance of the funds. (See pictures of TIME's Wall Street covers...
Narinder Kumar wants to buy an electric steam iron. The 24-year-old dhobi, or washerman, earns his living ironing clothes with a coal-fired iron as his ancestors did, in the same shack in south Delhi's Lajpat Nagar district as his father and grandfather before him. It's hard to imagine a workplace with a smaller carbon footprint than Kumar's: At 6 by 4 ft., it consists of only four iron poles holding up a roof made of plywood and corrugated iron. There's one electric fan for the summer days when the heat from the bulky...
...Kumar has heard of global warming, but to him it's incomprehensible that the live coals in his iron are partly to blame for it by producing black carbon, or soot, a greenhouse gas considered more destructive than carbon dioxide. Though he would like to stop using coal - "an electric iron would be so much more convenient," he says - the upgrade is too expensive. But he is saving up for one, and once he does, he will move from using coal to using electricity produced with coal, the source of more than 60% of India's electricity. (See pictures...
...Finally, the next national energy bill should strongly discourage the building of new coal-fired power plants, even those that include carbon capture and sequestration. Until all fly ash is recycled and/or safely disposed of, the danger of polluted groundwater and sludge spills will still loom large. New coal plants will only serve to exacerbate a serious and unsolved problem. Besides, solar, wind, and nuclear energy do not emit greenhouse gases, as coal currently does...
...Thirty years ago, the Three Mile Island nuclear accident spurred Congress and the Nuclear Regulatory Commission to make nuclear power plants safer. Similarly, the Kingston spill has revealed a need for government action and greater responsibility from coal-burning utilities. The coal industry must be pressured by the public and elected officials into becoming as “clean” as it can be. Despite what the industry may publicly proclaim, there is no such thing as clean coal, at least not yet. Nobody knows this better than the people of Kingston, Tennessee...