Coal CEO eyes record exports
Add Axios as your preferred source to
see more of our stories on Google.
The CEO of Cloud Peak Energy, the U.S.'s third largest coal company, says he's hoping to do a record amount of coal exports this year. "There is already a revival in exports compared to this time last year, but that wasn't due to Trump," CEO Colin Marshall told Axios earlier this week in an interview.
Why now: Coal exports are poised to go up due to greater international demand from countries like China and South Korea, Marshall says.
Reality check: Despite Marshall's prediction that coal exports will rise this year, a sustained expansion of such exports is unlikely because most proposals for new coastal terminals to export the product, especially in the Northwest, have failed to come online due to local opposition and financial woes of companies involved.
Our prediction: No matter the political party, politicians often take credit for things that happen on their watch, even if they had nothing directly to do with it. Trump is likely to do that here, given his campaign promise to revive the coal industry.
