Australia's big four banks are between a rock and a hard place. If they finance Galilee projects they are likely to face significant pressure from consumers. But they are also facing political pressure to provide finance.
While Japan and Ex-Im are considering pouring even more money into a coal industry that's on its last legs, all the signs show the smart money is going toward renewables. That's something to be thankful for.
The US Institute for Energy Economics and Financial Analysis (IEEFA), an independent analyses and research institute on energy and environment has come out with a bleak future outlook for India's coal imports, primarily from Australia.