(Pacific Environment, Washington, 25 May 2012) The Board of Directors of the Export-Import Bank (Ex-Im Bank), a federal government trade promotion agency, voted to provide $90 million in financing to the top U.S. coal exporter, Xcoal Energy & Resources, to export coal to China and other Asian countries. The vote to subsidize coal exports follows a decrease in U.S. demand for coal due to environmental and health concerns and the appearance of cheaper alternatives. “It is idiotic for the federal government to subsidize coal exports just as we begin to curb coal consumption here in the U.S. The Ex-Im Bank shouldn’t be exporting our environmental and health problems abroad,” said Doug Norlen, Policy Director at Pacific Environment.
