CEO of CSX won’t buy any new locomotives for coal, undercutting Trump’s claims coal can be revived.
There’s no future in transporting coal, says Hunter Harrison, CEO of CSX freight railroad.
Harrison told analysts on Wednesday that CSX, one of the country’s largest transporters of coal, won’t buy any new locomotives to haul the fuel. “Coal is not a long-term issue,” he said. The company currently hauls some 800,000 carloads of coal a year.
“Fossil fuels are dead,” Harrison continued. “That’s a long-term view. It’s not going to happen overnight. It’s not going to be in two or three years. But it’s going away, in my view.”