‘Unfortunately when you look more closely at those institutions, what you find is that they’re very heavily invested themselves in the coal industry now, and its expansion. For example, Goldman Sachs, which has recently got a lot of coverage for saying that the window for investing in thermal coal is closing, is a very heavy investor in thermal coal and even as recently as last year buying up thermal coal assets in Colombia.’ ‘They’re (also) still involved in mountain-top coalmining in the US and in exporting new thermal coal from the northwest coast. So some of these institutions also have an interest at the moment in talking down the industry while the prices are low, to prevent new entrants, and to kind of prop up the industry.’ abc.net.au/radionational/programs/breakfast/environmentalists-fooled-by-big-coal/4953006
Posted on: Thu, 12 Sep 2013 05:20:22 +0000
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