- State declares test results for schools invalid (10/4/17)2
- College algebra to be removed from Southeast required curriculum (10/10/17)1
- Child-custody advocate: State law needs fix to provide parents with more equal custody (10/12/17)
- Past Rowdy the Redhawk mascot's identity revealed (10/15/17)
- Cancer will 'change your life, but it doesn't have to rule it' (10/8/17)
- Sikeston singer moves on with 'The Voice' (10/16/17)
- Police chief, council: Cape Girardeau faces growing gun violence (10/17/17)4
- Developer asks court to OK tax district board for improvements near Hobby Lobby (10/17/17)4
- Bills addressing equal child custody to be filed, legislators say (10/13/17)
- The last person to be laid to rest at Old Lorimier Cemetery: Mary Russell Fox (10/17/17)2
U.S. funding denied for huge natural gas project
WASHINGTON -- The Export-Import Bank of the United States, after heavy lobbying from environmental groups, denied funding Thursday for a large natural gas development project in Peru backed by two Texas-based energy companies with close ties to the Bush administration.
The bank's board of directors, who oversee an independent federal government agency that helps finance the sale of U.S. exports, voted 2-1 to deny approximately $200 million in loan insurance for the project on the Lower Urubamba River basin near the Camisea River.
Environmentalists said the so-called Camisea project could destroy one of the world's most biologically diverse and wild rain forests, with indigenous people living in isolated areas.
"This decision is situation-specific," Ex-Im Chairman Philip Merrill said, "and does not reflect the bank's overall interest in financing U.S. exports for energy projects throughout the world."
Environmental groups praised the board's decision.
"Ex-Im board members displayed courage and environmental leadership in the face of considerable pressure," said Jon Sohn of Friends of the Earth.
Two of the companies involved in the project, Hunt Oil Co. of Dallas and Halliburton Co. of Houston, have close ties to the Bush administration and the Republican party.
On the Net:
Export-Import Bank: http://www.exim.gov
Friends of the Earth: http://www.foe.org