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Pulling back the curtains on wage-theft enforcement in MN; Trump's latest attack is on RFK, Jr; NM LGBTQ+ equality group endorses 2024 'Rock Star' candidates; Michigan's youth justice reforms: Expanded diversion, no fees.

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Transportation Secretary Pete Buttigieg says rebuilding Baltimore's Key Bridge will be challenging and expensive. An Alabama Democrat flips a state legislature seat and former Connecticut senator Joe Lieberman dies at 82.

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Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

New Korean Tax Hits WYO Coal

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Monday, July 7, 2014   

SHERIDAN, Wyo. – A new tax in South Korea is big news for Powder River Basin coal. Korea is one of the largest export markets for Wyoming coal, and Clark Williams-Derry, deputy director at the Sightline Institute, describes the tax as hefty.

He says it ranges between $16 and $18 per metric ton for coal that sells for about $14 per metric ton at the mining site – and on top of that, the coal market is seeing current prices drop to levels of four to five years ago.

"And it's really for hard for U.S. producers to make a profit selling into Asia in today's market," says Williams-Derry. "Announcements like this from South Korea are just going to make things that much more uncertain."

The Sightline Institute analyzes policies related to sustainability. According to Williams-Derry, Korea has been up-front about trying to reduce coal imports, and a tax can be an effective way to force change.

Coal companies have been pushing for more export terminals on the West Coast to get Powder River Basin coal to Asian markets. However, while U.S. coal use is usually related to electricity generation, he notes that isn't always case in South Korea.

"And not just in power plants, but also in domestic use. There are many places in Korea where coal is used for cooking and home-heating," he explains. "And for health reasons, they're trying to push some of that that to propane or kerosene, or some other kind of fuel."

He adds that while many assume China is a top destination for Powder River Basin coal, South Korea is actually the top market because the shipping route is shorter.




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