(Reuters circulated the following on July 24.)
CHICAGO — Global demand for coal should remain high for the next few years, the top executive of No. 2 U.S. railroad Burlington Northern Santa Fe Corp. said on Thursday.
Chief Executive Matt Rose told Reuters in a telephone interview that all indications show that demand will “continue to outstrip supply for the next several years at least.”
BNSF’s CEO also said that with global demand taking a rising volume of Appalachian coal abroad, “more and more East Coast utilities” will look to use more low-cost coal from the Powder River Basin in Wyoming. BNSF and No. 1 U.S. railroad Union Pacific Corp. are the only railroads that serve the basin.