In the continuing war of words over development of coal export terminals in the Pacific Northwest, the Sightline Institute took a Feb. 13 shot at Ambre Energy, an Australian company that in the last couple of years has bought into the U.S. coal business and plans a pair of controversial coal export terminals in Washington and Oregon.
The Institute released a report that claims Ambre has “money woes” and therefore can’t follow through on its commitments. Ambre has countered such claims in the past by saying its finances are solid.
Alan Durning, executive director of the Sightline Institute, said in a Feb. 13 statement: “Ambre Energy is a very dicey proposition for investors. State and local governments and potential business partners should be aware of the severe financial risks the company carries.”
Founded in 1993, Sightline Institute provides original analysis of energy, environmental, and economic policy in the Pacific Northwest.
Ambre owns interests in the Black Butte coal strip mine in southwest Wyoming and the Decker coal strip mine in the Montana Powder River Basin, with a pending deal to buy the remaining share of Decker from Cloud Peak Energy (NYSE: CLD). It is developing the Millennium Bulk Terminals at Longview, Wash., and the Morrow Pacific project at the Port of Morrow and Port Westward in Oregon on the Columbia River. Ambre had posted no statements about the Sightline report to its website as of Feb. 14.
