Just looked at the wikipedia page and found a very good reason not to use HTML in email

If an email contains web bugs (inline content from an external server, such as a picture), the server can alert a third party that the email has been opened. This is a potential privacy risk, revealing that an email address is real (so that it can be targeted in the future) and revealing when the message was read. For this reason, some email clients do not load external images until requested to by the user.

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