Loophole lets Norway’s $1 trillion fund boost its coal exposure
Norway’s massive sovereign wealth fund has increased its exposure to coal reserves even after imposing restrictions on investing in the fossil fuel according to a report.
Unless demand picks up or more miners cut output, prices for raw materials are set to stay low for years, or worse, continue to drop, the investment bank predicts.
The EIA says China and India are to blame, as imports from both nations — which from 2008 to 2013 accounted for 98% of the increase in world coal trade —are on their way down.
The investigation aims to determine whether senior officials tried extorting Freeport’s Indonesian unit in return for letting the company continue to operate in the country.
Jurors have begun deliberating the fate of Blankenship, leader of the company that owned the Upper Big Branch mine at the time of a 2010 deadly explosion.