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...That's because Toranagallu is also home to a 3,700-acre forest of puffing smokestacks that make up the Jindal South West steel factory. Opened a over a decade ago, Jindal South West has over the past several years claimed an estimated $150 million in carbon credits thanks to its internationally recognized status as a part of the Clean Development Mechanism (CDM) administered by the U.N. under the Kyoto Protocol. But while the steel plant's efforts to reduce its emissions may in a very small way be helping the earth's atmosphere, villagers complain any benefits are lost...

Author: /time Magazine | Title: An Indian Village Sees the Downside of Carbon Trading | 12/3/2009 | See Source »

...Toranagallu, the Jindal plant continues to expand as the company pursues carbon credits by generating power through the burning of waste gas created during steel manufacture. In a bid for more carbon dollars, a second power plant was built. "The carbon revenues were a major factor in taking up these projects," says Suresh Iyer, the chief coordinator of carbon trading at Jindal South West. If a project is reducing carbon, he says, "we do take the initiative and put up the plant because of that." The second plant, which Iyer estimates cost the company $50 million to build, was approved...

Author: /time Magazine | Title: An Indian Village Sees the Downside of Carbon Trading | 12/3/2009 | See Source »

...between the Reid legislation and other opt-out strategies: a state is not a person. An individual might end up in a public-health plan out of pure inertia, but it's not clear whether a conservative state like Louisiana would exhibit the same status-quo tendencies. Governor Bobby Jindal is an outspoken opponent of the public option, and an ambitious politician; Louisiana legislators might be eager to distance themselves from President Obama and the Democratic Congress...

Author: /time Magazine | Title: The Public Option: Let's Not Opt Out and Say We Did | 10/27/2009 | See Source »

...latest showcase involved President Obama's $787 billion stimulus package. Sanford led a group of GOP governors, including Alaska's Sarah Palin and Louisiana's Bobby Jindal, assailing it as fiscal suicide. Sanford even likened it to the hyper-inflationary policies of Zimbabwean dictator Robert Mugabe, and he spent the past spring fighting to reject a quarter of South Carolina's $2.8 billion share of the funds unless he could use it to reduce the state's debt...

Author: /time Magazine | Title: Sanford's Sex Scandal: Assessing the Damage | 6/25/2009 | See Source »

...defense, Social Security, Medicare or Medicaid - which, along with debt payments, would put more than two-thirds of the budget off limits. It's no coincidence that many Republicans who voted against the stimulus have claimed credit for stimulus projects in their district - or that Louisiana Governor Bobby Jindal stopped ridiculing volcano-monitoring programs after a volcano erupted in Alaska. "We can't be the antigovernment party," Snowe says. "That's not what people want...

Author: /time Magazine | Title: One Year Ago: The Republicans in Distress | 5/7/2009 | See Source »

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