Think the Big Banks Have Abandoned Coal? Think Again
The New York Times, Emily Flitter, May 28, 2018
Five of the country’s biggest banks are lending tens or hundreds of millions of dollars to coal companies again, in one case eclipsing what they lent in 2014, before the industry entered a nose dive, according to an analysis by Rainforest Action Network, a liberal environmental group. JPMorgan’s coal lending increased to $654 million 2017 from $32 million in 2015, according to the analysis. That was more than the $570 million the bank lent to coal interests in 2014. The vast majority of JPMorgan’s coal loans in 2017 were to Peabody, which emerged from bankruptcy that April.
Our Take: The death of coal was greatly exaggerated three years ago when large financial institutions stopped funding. This reversal of policy is good for Alaska and good for America.
China LNG Group buys 275 LNG tank containers
LNG World New, May 28, 2018
Under a strategic cooperation deal between the two companies, China LNG Group agreed to purchase additional 800 to 1,000 LNG tank containers from CIMC Enric by the end of the year, China LNG Group said in a filing to the stock exchange. In addition, the group has agreed to purchase CIMC Enric produced cryogenic equipment such as LNG refueling trucks, LNG Dewar flasks and other products.