Obama Boosts Coal Exports, Prompting Allies’ Complaints
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The U.S. government’s export lender backed $90 million in loans to boost overseas sale of coal, drawing criticism from environmental groups that say the Obama administration is ignoring coal’s risks to air and health.
XCoal Energy & Resources LLC, a Pennsylvania exporting company, received final approval from the U.S. Export-Import Bank yesterday for a working capital guarantee to help it boost shipments of coal to Japan, South Korea and China.