"Wall Street Giant Backs Away From Washington Coal Export Project"

"A multinational banking giant is backing away from a proposal to build the West Coast’s biggest coal export project near Bellingham, Washington."

"New York-based Goldman Sachs has sold its stock back to the companies proposing to build the Gateway Pacific Terminal. If built it would transfer 48 million tons of Wyoming coal each year from trains to ocean-going vessels bound for Asia.

The move comes less than six months after Goldman Sachs published a research paper titled, 'The window for thermal coal investment is closing.'

Before the stock transfer, Goldman Sachs had a 49 percent stake in the Gateway Pacific project. The company proposing the project is SSA Marine. Its parent company is Carrix, Inc."

David Steves reports for Oregon Public Broadcasting/EarthFix January 7, 2014.

Source: OPB/EarthFix, 01/09/2014