Grist| A Beacon in the Smog, August 7, 2013
by Clark Williams-Derry, Cross-posted from Sightline Daily
There’s been so much news on the coal export front of late — the massive scope of the proposed Gateway-Pacific terminal’s Environmental Impact Statement; the Lummi Nation’s unequivocal opposition to a coal terminal at Cherry Point; and recent revelations about the ongoing financial woes of coal terminal developer Ambre Energy — that it’s hard not to sense that Northwest coal export projects are on the ropes.
But perhaps the most important coal export story has gotten surprisingly little attention — the collapse of Pacific Rim coal prices. With the latest price decline, I think we can definitively call the hype over Northwest coal export projects for what it always was: a bubble.