Another Coal Company Bankrupt


#1

One of the oldest coal companies in the U.S. filed for bankruptcy protection Tuesday to deal with more than $1.4 billion in debt amid declining demand for the fuel.

Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. Bankruptcy Court in Houston as part of a restructuring agreement with an unnamed group of lenders.

Guess who going to take the hit?

Workers and pensioners.


#2

Don’t expect any liberals to cry. Coal is evil, and ■■■■ the coal miner.


#3

I’m sure Daddy Trump will bail them out.


#4

Case in point.


#5

Even conservatives urged them to retrain. They have been refusing retraining saying they voted for Trump to bring things back.


#6

Should we be giving preferential treatment to coal miners or something?


#7

Like you cons say “get a better job”.


#8

Companies go out of business all the time, should I feel more sad about this then Toy R Us?


#9

If your doctor says you need to lose weight and exercise or you will die soon should he cry when you die early because you ignore him?


#10

toys r us jus coming back.


#11

Liberals are responsible for coal not being in demand?


#12

Coal is actually a dying industry. I’d say young kids in school today will force it out within the next 80-100 years (with a slow and painful decline).


#13

I’m not going to blame Donald Trump for Obama era policies. However, I will blame the Democrats in Congress for not working with the majority party to enact job saving policies.


#14

For use here, sure, but it’s a global commodity. The IEA is forecasting 3% global growth out to 2022.


#15

Not sure about that. It looks like they’re projecting stagnation with about a decade of little to no growth.


#17

Is that 3% a year or 3% between now and 2022? 3% between now and 2022 is barely cranking up currant output.

Link.


#18

Capitalism, baby! Right?


#19

Now those are some great jobs I bet.


#20

Developing countries will most likely be able to skip the fossil fuel phase of economic growth and jump straight to renewables with a large international investment. It’s entirely possible that most fossil fuel industries will die rapidly, relative to what we might expect, because of the decline price of renewables.


#21

Why shoud we be saving jobs that frankly need to be phased out anyway?

For better or worse, coal is eventually going to go away, and then what? I guess because it won’t be during our lifetimes, we should just keep on keeping on, right?