China Turns Away Coal Shipments

Sightline Institute reports that at least 30 tankers are sitting off the coast of China unable to find buyers for their coal shipments.  As they note:

“Coal market volatility is exactly why the West Coast has such a terrible track record with coal exportFacilities in Portland in the 1980s and Los Angeles in the 1990s fell apart in spectacular fashion—stranding millions of dollars in capital and foreclosing better economic development opportunities—after supposedly reliable Asian coal demand dried up.”

Another sound reason for not investing in ports for shipping US coal across the Pacific. See the Sightline article for further details and sources of information.

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