A recent report by the Sightline Institute details the severe financial troubles of coal export proponent Ambre Energy – citing $124 million dollars in losses and a mere $6.6 million dollars in profit over the last 7 years. Australian-owned coal company Ambre Energy is behind two of the five coal export proposals in the Northwest: Morrow Pacific in Boardman, Oregon & Millennium Bulk Terminals in Longview, Washington.
Ambre Energy has already proved itself to be unfit for business in the Northwest. Tomorrow marks the two year anniversary of the New York Times story that revealed internal documents indicating that the coal company intentionally misled state regulators in Washington. Ambre Energy had applied for permits from the state to export 5.7 million tons of coal annually from a Longview facility but internal documents listed as much as 60 million.