Chris Cline
Encyclopedia
Chris Cline is an American
entrepreneur
engaged in coal mining
and a philanthropist
. He is currently the majority owner of privately-held Foresight Reserves LP, with headquarters in Palm Beach
, Florida
. Regarded by Bloomberg
as the New King Coal, Cline is considered responsible for reviving the Illinois
coal
industry. His company has more than three billion tons of coal reserves across Illinois
and the Northern Appalachia. According to Forbes
, Cline has a net worth of $1.7 billion, ranking 278th among American billionaires and #736 in the Forbes list.
a century ago with a pickax around Beckley, West Virginia
. At the age of six, his father, Paul, asked him to fill a paper bag with dirt, paying him a penny for each bag. Cline dug the dirt from under the porch of their bungalow in Isaban, West Virginia
. His father used the dirt bags in mine-blasting. Within two years, their porch had collapsed. According to Cline, his father had told him to "support the roof better."
In 1980, Cline's father bought out his partner then gave the shares to Cline, who was then 21 years old. At that time, he was studying psychology at Marshall University
in Huntington, West Virginia
.
Breast cancer claimed Cline's first wife, Sabrina, in 1987. He remarried in 1993, but the relationship with his second wife, Kelly, ended with a divorce in 2000.
At present, Cline, father to two sons and two daughters, owns a 33413 square feet (3,104.2 m²) mansion in Palm Beach, Florida
, and a house in Beckley, West Virginia
, where his 150 acre (0.607029 km²) property contains a lake, a go-kart track and pastures for his horses, goats and llamas.
.
has praised Cline's philanthropic activities in its editorial for July 26, 2011, commenting that Cline "has not forgotten his roots."
On May 26, 2011, the School of Medicine and the Department of Intercollegiate Athletics of West Virginia University
received a US$5 million donation from Cline through his Cline Family Foundation. The donation also created the Christopher Cline Chair in Orthopaedic Surgery.
On July 20, 2011, Marshall University
received a donation of $5 million from the Cline Family Foundation for sports medicine research. The donation was announced during a fundraising event held at Cline's Beckley home.
holds a 250-year supply of coal
, providing the state with the largest recoverable coal reserve in the United States
. The state's coal
industry is valued at almost $1 billion, with coal mining
operations across 12 counties. One pound of Illinois coal, described as bituminous, can produce one kilowatt-hour of electricity.
Cline, spending $300 million on mining rights and equipment in Illinois, had foreseen that the U.S. Environmental Protection Agency would require power plants to use scrubbers in removing pollutants. Illinois coal has too much sulfur
to be safely burned by most power plants.
In 2005, Foresight Energy built its Williamson longwall mining
operation south of West Frankfort in Illinois. Eventually, the coal mining division of the Cline Group acquired Exxonmobil's Monterey No. 1 mine, and developed Sugar Camp, Hillsboro, and the Macoupin complex.
SNL Financial reported in 2008 that Deer Run coal mine in Montgomery County, Illinois, a project of Cline's Hillsboro Energy LLC, would produce up to 8 million tons annually until 2016. In the same report, representatives for Cline said that he was aiming for an annual coal production of 60 million tons from Illinois
alone.
In an interview with Bloomberg
, Cline said "As far as the social acceptability of coal, I like to think I’m part of supplying the cheapest energy in America."
of Springfield, Illinois
reported on July 19, 2010 that environmental activists took note of the generous donation of Cline's companies to Illinois politicians, especially in the context of Cline's mining operations in the state. Another report, published on April 26, 2011, told about the opposition of local landowners against the longwall mining operations of Deer Run mine near Hillsboro.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
engaged in coal mining
Coal mining
The goal of coal mining is to obtain coal from the ground. Coal is valued for its energy content, and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United States,...
and a philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
. He is currently the majority owner of privately-held Foresight Reserves LP, with headquarters in Palm Beach
Palm Beach, Florida
The Town of Palm Beach is an incorporated town in Palm Beach County, Florida, United States. The Intracoastal Waterway separates it from the neighboring cities of West Palm Beach and Lake Worth...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. Regarded by Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
as the New King Coal, Cline is considered responsible for reviving the Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
industry. His company has more than three billion tons of coal reserves across Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
and the Northern Appalachia. According to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
, Cline has a net worth of $1.7 billion, ranking 278th among American billionaires and #736 in the Forbes list.
Biography
Cline's grandfather mined for coalCoal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
a century ago with a pickax around Beckley, West Virginia
Beckley, West Virginia
Beckley is a city in Raleigh County, West Virginia, United States, which was founded on April 4, 1838. The 2008 population was estimated to be 16,832 by the U.S. Census Bureau. Early in its history, the town was known as Beckleyville and Raleigh Court House...
. At the age of six, his father, Paul, asked him to fill a paper bag with dirt, paying him a penny for each bag. Cline dug the dirt from under the porch of their bungalow in Isaban, West Virginia
Isaban, West Virginia
Isaban is an unincorporated community located on Fourpole Creek in McDowell and Mingo counties in the U.S. state of West Virginia....
. His father used the dirt bags in mine-blasting. Within two years, their porch had collapsed. According to Cline, his father had told him to "support the roof better."
In 1980, Cline's father bought out his partner then gave the shares to Cline, who was then 21 years old. At that time, he was studying psychology at Marshall University
Marshall University
Marshall University is a coeducational public research university in Huntington, West Virginia, United States founded in 1837, and named after John Marshall, the fourth Chief Justice of the United States....
in Huntington, West Virginia
Huntington, West Virginia
Huntington is a city in Cabell and Wayne counties in the U.S. state of West Virginia, along the Ohio River. Most of the city is in Cabell County, for which it is the county seat. A small portion of the city, mainly the neighborhood of Westmoreland, is in Wayne County. Its population was 49,138 at...
.
Breast cancer claimed Cline's first wife, Sabrina, in 1987. He remarried in 1993, but the relationship with his second wife, Kelly, ended with a divorce in 2000.
At present, Cline, father to two sons and two daughters, owns a 33413 square feet (3,104.2 m²) mansion in Palm Beach, Florida
Palm Beach, Florida
The Town of Palm Beach is an incorporated town in Palm Beach County, Florida, United States. The Intracoastal Waterway separates it from the neighboring cities of West Palm Beach and Lake Worth...
, and a house in Beckley, West Virginia
Beckley, West Virginia
Beckley is a city in Raleigh County, West Virginia, United States, which was founded on April 4, 1838. The 2008 population was estimated to be 16,832 by the U.S. Census Bureau. Early in its history, the town was known as Beckleyville and Raleigh Court House...
, where his 150 acre (0.607029 km²) property contains a lake, a go-kart track and pastures for his horses, goats and llamas.
Mine Games
Cline also owns the 164 feet (50 m) luxury yacht Mine Games, which can be rented for luxury cruises. Mine Games, which has five staterooms and has its own submarine, was designed and built by Gulf Coast-based Trinity Yachts, owned by entrepreneur and philanthropist Felix SabatesFelix Sabates
Felix Sabates is an entrepreneur and philanthropist living in the United States. He is currently a minority shareholder in Chip Ganassi Racing, which fields teams in the NASCAR Sprint Cup Series , GRAND-AM Rolex Sports Car Series and the IZOD IndyCar Series...
.
Philanthropy
The Herald-DispatchThe Herald-Dispatch
The Herald-Dispatch is a daily newspaper serving Huntington, West Virginia, and neighboring communities in southern Ohio and eastern Kentucky. It is currently a subsidiary of Champion Publishing, Inc., based in Huntington....
has praised Cline's philanthropic activities in its editorial for July 26, 2011, commenting that Cline "has not forgotten his roots."
On May 26, 2011, the School of Medicine and the Department of Intercollegiate Athletics of West Virginia University
West Virginia University
West Virginia University is a public research university in Morgantown, West Virginia, USA. Other campuses include: West Virginia University at Parkersburg in Parkersburg; West Virginia University Institute of Technology in Montgomery; Potomac State College of West Virginia University in Keyser;...
received a US$5 million donation from Cline through his Cline Family Foundation. The donation also created the Christopher Cline Chair in Orthopaedic Surgery.
On July 20, 2011, Marshall University
Marshall University
Marshall University is a coeducational public research university in Huntington, West Virginia, United States founded in 1837, and named after John Marshall, the fourth Chief Justice of the United States....
received a donation of $5 million from the Cline Family Foundation for sports medicine research. The donation was announced during a fundraising event held at Cline's Beckley home.
Investing in Illinois coal
IllinoisIllinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
holds a 250-year supply of coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
, providing the state with the largest recoverable coal reserve in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The state's coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
industry is valued at almost $1 billion, with coal mining
Coal mining
The goal of coal mining is to obtain coal from the ground. Coal is valued for its energy content, and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United States,...
operations across 12 counties. One pound of Illinois coal, described as bituminous, can produce one kilowatt-hour of electricity.
Cline, spending $300 million on mining rights and equipment in Illinois, had foreseen that the U.S. Environmental Protection Agency would require power plants to use scrubbers in removing pollutants. Illinois coal has too much sulfur
Sulfur
Sulfur or sulphur is the chemical element with atomic number 16. In the periodic table it is represented by the symbol S. It is an abundant, multivalent non-metal. Under normal conditions, sulfur atoms form cyclic octatomic molecules with chemical formula S8. Elemental sulfur is a bright yellow...
to be safely burned by most power plants.
In 2005, Foresight Energy built its Williamson longwall mining
Longwall mining
Longwall mining is a form of underground coal mining where a long wall of coal is mined in a single slice . The longwall panel is typically 3–4 km long and 250–400 m wide....
operation south of West Frankfort in Illinois. Eventually, the coal mining division of the Cline Group acquired Exxonmobil's Monterey No. 1 mine, and developed Sugar Camp, Hillsboro, and the Macoupin complex.
SNL Financial reported in 2008 that Deer Run coal mine in Montgomery County, Illinois, a project of Cline's Hillsboro Energy LLC, would produce up to 8 million tons annually until 2016. In the same report, representatives for Cline said that he was aiming for an annual coal production of 60 million tons from Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
alone.
Promoting coal for cheap power
Cline said that instead of overreacting to minimal increases in atmospheric C02 and ocean levels, people should take advantage of the low-cost energy offered by coal.In an interview with Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
, Cline said "As far as the social acceptability of coal, I like to think I’m part of supplying the cheapest energy in America."
Opposition from environmentalists, other sectors
The State Journal-RegisterState Journal-Register
The State Journal-Register is the only local daily newspaper for Springfield, Illinois and its surrounding area. It was founded in 1831 as the Sangamon Journal, and claims to be "the oldest newspaper in Illinois." The State-Journal merged with its afternoon rival, the Illinois State Register, in...
of Springfield, Illinois
Springfield, Illinois
Springfield is the third and current capital of the US state of Illinois and the county seat of Sangamon County with a population of 117,400 , making it the sixth most populated city in the state and the second most populated Illinois city outside of the Chicago Metropolitan Area...
reported on July 19, 2010 that environmental activists took note of the generous donation of Cline's companies to Illinois politicians, especially in the context of Cline's mining operations in the state. Another report, published on April 26, 2011, told about the opposition of local landowners against the longwall mining operations of Deer Run mine near Hillsboro.