Even $75M from Trump may not save Oakland’s embattled coal terminal
When investor Phil Tagami first proposed building an export terminal in Oakland, California, more than a decade ago, he probably didn’t anticipate the firestorm of litigation and controversy that would follow, in a saga that has now spanned three presidential administrations. There were early rumors that the terminal would export coal, much to the consternation of local residents, but Tagami said in a newsletter that the naysayers were “misinformed.” It was all downhill from there.
Tagami and others entered into a development agreement with the city of Oakland in 2013 after the city decided to redevelop a defunct army base on the city’s west side. At the time, Tagami was adamant that the developers were interested in building an all-purpose bulk terminal and capturing some of the traffic that Oakland was losing to other West Coast ports. But two years …