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'Harbinger of the End of Fossil Fuel Era'? US Coal Giant May File Bankruptcy


#1

'Harbinger of the End of Fossil Fuel Era'? US Coal Giant May File Bankruptcy

Andrea Germanos, staff writer

Peabody Energy, the biggest producer of coal in the U.S., announced Wednesday that it may have to seek bankruptcy protection.

The company "had a total debt of $6.3 billion at the end of 2015," Reuters reports, and its "shares have crashed from their record high of more than $1,300 in 2008 to $4.01 as of Tuesday's close, reflecting the downturn in the coal market over the past few years."


#2

Let's see if they clean-up the mess. At least a coal-ashsludge cost will be dwarfed by Uranium mines and nuclear reactor sites that will remain uninhabitable for centuries and millenia. Boy, are we in for a jaw-dropping shock!


#4

Does any one know if the Koch bros profits have been dropping over the past few years?


#5

Oh Daddy won't you take me back to Muhlenberg County
Down by the Green River, where Paradise lay...

Well i'm sorry my son but you're too late in askin'...
Mister Peabody's coal train has hauled it away

John Prine, Paradise (Muhlenberg County), 1971


#6

My thoughts exactly. It 50 years too late for Muhlenburg County.


#7

Bankruptcy means dumping the cost of Peabody's toxic legacy onto the public. We should see all insurance companies involved bankrupt as well. Every financial backer should be picked up by the ankles and shaken for every penny they own.


#8

I was just reading about how US coal exports are rising rapidly and we're one of the world's biggest exporters. We'd best be careful that companies like Peabody don't just shapeshift so they can make their money exporting under different names. If it's nit Peabody exporting who is it?