Posted on 01/11/2016 11:58:44 AM PST by DUMBGRUNT
Arch Coal, the second largest coal company in America and the operator of the Black Thunder mine near Wright, filed for bankruptcy Monday.
Arch was also the third largest taxpayer in Wyoming during 2014 when the company paid $1.1 billion in taxes.
(Excerpt) Read more at trib.com ...
Jumping the gun by a several decades, eh? Coal provides over 30 percent of the globe's energy, about the same as oil, a bit more than natural gas, and 2.6 times as much as all renewables combined... even after being the target of the anti-coal movement for several decades.
And the percentage is anot decreasing...
Mind boggling.
The Bolshevik Party claims to represent the Working Man.
Bout the most working class you can get is coal mining. LBJ ran a whole campaign about “heppin’ the coal miners in Appalachia”.
And this A*hole destroys entire companies and thousands of jobs? That made working class people into middle class?
The grotesque hypocrisy of it is mind boggling. But you have to admit, they got their audience calibrated: like lemmings, the idiots voted for them.
Thank goodness for China, right?
From your mouth to God's ear.
My local plant (which supplies power to probably half the population of Kansas) has had to spend a tremendous amount of money to upgrade, for the new regulations. The plant was originally built in 1980, and none other than Walter Mondale was there at the ribbon cutting - the democrats used to be pro-electricity, with the TVA and rural electrification. Funny how they change.
Another plant near me had to improve the ash storage area...after the fly ash is caught by the electrostatic scrubbers in the stack, it has to be stored somewhere, and it is usually stored in pits. Well, their pit was too close to the river, so they had to line it with concrete - looks like a football sized concrete swimming pool. This is the same EPA than recently made a river run orange.
That would only be an apt analogy if a U.S. President had ordered the slaughter of all horses about 50 years before the invention of the automobile.
We are replacing coal with wind farms. It would be like replacing the horse and buggy with one of these:
With 25 yrs. as a unit operator of a 2 unit 1400 megawatt station. I can assure you you cant produce 5 million cubic ft. of steam per hour by burning unicorn farts. We have about 300 years of supply identified and in production. Get govt out of western lands and that number jumps exponentially. The Black Thunder mine was one we would get fuel from on occasion, off long term contract. That was some of the best stuff, Low ash and sulfur content, but high btu content. That stuff was like racing fuel. Brilliant to force out of production. A fabulous natural ressource of this country just going to waste. FUBO.
Natural Gas is unicorn farts? But cheap carbon is great for power plant operators.
Coal’s enemy is not Obama, it’s Fracking.
Actually, no.
I am a big supporter of fracking. Fracking is why gasoline is back below $2 per gallon and OPEC is going down into the dustbin of history. I also live in a state (Texas) that produces lots of oil and gas and not much coal.
But the fact is that coal is still much cheaper and more plentiful of an energy source in the U.S., or it would be if Obama had not declared war on coal and done everything he can to kill off the industry.
Multiple victims, actually. The company owners. stockholders and employees, and the people of Wyoming and the U.S. who lose out on shares of the $1.3 bil in taxes they will no longer pay.
1.1 bil...1.3 typo
1.1 bil, 1.3 bil, either way it eventually starts adding up to some real money.
Your analogy is false.
An accurate analogy would be a buggy whip maker forced into bankruptcy in 1750 when they were in great demand because the king issued an edict that buggy whip manufacture polluted too much and they henceforth could not be made from leather. This after forcing them to spend billions on initially reasonable but then increasingly non-sensical pollution control devices.
Even that is not a
George Soros is waiting in the background to buy these companies for pennys on the dollar.
Recall Margaret Thatcher privatizing mines owned by the UK.
The more coal they dug, the more money they lost.
Suffice it to say, the unions were unhappy.
Here the unions whimper and keep pushing dues money to 0bama.
“like lemmings, the idiots voted for them”
Or replace their output with Ukrainian coal when they get shuttered and become too expensive to reopen.
But that IS probably the real plan.
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