Goldman Sachs says coal-export terminals are a bad investment

Grist| A Beacon in the Smog, July 29, 2013
By David Roberts

No less an investor than the mighty Warren Buffett has proclaimed that the decline of coal in the U.S. will be gradual but inevitable. Given flat demand for electricity, cheap natural gas, burgeoning renewables, rising efficiency, and future carbon regulations, new coal-fired power plants are bad bet, which is why they aren’t getting built.

To save their bacon, U.S. coal mining companies want to export their coal to hungrier markets, mainly Asian markets. OK, mainly China. Demand for coal in China is a crucial justification for the export infrastructure coal companies want to build in the Pacific Northwest — export terminals in Oregon and Washington that would handle coal shipped by train from the Powder River Basin in Wyoming and Montana. (Activists are battling those plans, with some success. A similar fight is happening in British Columbia.)

Read more…

About coalfreegorge

Coal is rearing its head again the Columbia Gorge. The new threat comes in the form of proposals to export coal from Wyoming to coal-fired power plants in China. The coal would be transported via uncovered rail cars through the Columbia Gorge. Many Columbia Gorge Communities in Oregon and Washington support a coal-free world, beginning at home, in the heart of the Columbia River Gorge, recognizing the importance of people determining what materials are allowable for transport through their communities and watersheds. This blog exists to communicate and advocate for the public interest in issues pertaining to coal transport in the Columbia River Gorge, providing an online outlet for honest discussion and information. To inform and unite local citizens about the damaging effects of coal transport through our communities. To endorse positive and considerate dialogue with the aim of mutual understanding among diverse parties. CLEAN AIR HEALTHY COMMUNITIES NO COAL EXPORTS STOP COAL IN ITS TRACKS
This entry was posted in Coal Dust, Coal Exports, coal terminals, Environment, Pollution and tagged , , . Bookmark the permalink.

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