By Liz Wood 

DKRW's hopes sink with low oil prices

Project partner Arch Coal files for Chapter 11 bankruptcy

 


Bill Gathmannn, DKRW’s Senior Vice President for Finance, said that there hasn’t been much development at a Jan. 6 meeting.

“Our hearts are in it,” Gathmannn said after saying that the coal to liquefaction project doesn’t work with $35 per barrel oil prices.

Six months before, Gathmannn had stated that the oil industry doesn’t always look at the short term picture of oil prices, but since then, the price per barrel has plummeted, according to reports in the oil industry. With the drop in oil prices, there hasn’t been much development externally, Gathmannn said. DKRW is monitor...



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