The largest private coal company declared bankruptcy. Cheap natural gas, a move away from heavy polluters, and a general slowdown in the global economy mean that Peabody Energy has been financially hit hard. Coal production is down 30%. Exports are down 23%. Coal plants continue to be built around the world, but none in the US, and the others are also competing with solar and wind systems. If Peabody has a tough time operating, then other coal companies are probably in a similar situation. Ironically, climate change is warming winters thereby reducing the need for the need for coal. Coal is partly responsible for killing coal.

(Click on the photo for the link.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s