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Largest US coal-producer files for bankruptcy.

Discussion in 'Energy, Environment, and Policy' started by JohnSnowNW, Apr 13, 2016.

  1. JohnSnowNW

    JohnSnowNW Active Member

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    Top U.S. coal company Peabody Energy files for bankruptcy
     
  2. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Active Member

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    At CERA, the head of the Chinese state grid must have really burst some peoples bubbles.

    Somebody previously posted this link:
    “Base load” power: a myth used to defend the fossil fuel industry

    Coal use has fallen in China, and China is essentially aiming to eliminate coal and oil use for electricity, and replacing them with renewables. They're adding capacity, but utilization continues to fall. Coal use has fallen several percentage points over the last couple of years.

    China signed a major natural gas deal with Russia, and fairly recently banned all imports of brown coal. So it's not just coal electricity they want to cut out, they're looking to replace solid fuel heating with natural gas as well.


    With the current slowdown in China, plus their combined push for renewables for electricity, electricity for transportation, and natural gas for heat, what people might have felt to be a long-term growth market for coal and oil, isn't going to provide the growth that was expected.
     
  3. rolosrevenge

    rolosrevenge Dr. EVS

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    They got fracked...
     
  4. LetsGoFast

    LetsGoFast Active Member

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  5. rolosrevenge

    rolosrevenge Dr. EVS

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    Now that was an interesting read. Coming from the power side, I didn't know much about Met coal. I do feel for the miners. That's why you never trust your retirement to a company pension, companies don't last forever.
     
  6. EVie'sDad

    EVie'sDad Member

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  7. bkp_duke

    bkp_duke Member

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    I doubt it. He is a business man who knows the value of letting market forces set the evolution of an industry. He would just let the industry die.
     
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  8. 1101011

    1101011 Proud TSLA/SCTY shareholder since 2012.

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    Wouldn't be his smartest move. The role of coal in the manufacturing process is declining for good reason.

    But a president trump?
     
  9. EVie'sDad

    EVie'sDad Member

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    really?

    "Other elements of Mr. Trump’s energy proposals appear less viable. As coal mining jobs have declined, Mr. Trump has vowed to fully restore their numbers.

    “We’re going to bring back the coal industry, save the coal industry,” he said. “I love those people.”
     
  10. bkp_duke

    bkp_duke Member

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    It's political posturing. He tells the oil industry they will get more jobs, the coal the same, and if he visits west texas I am sure he will be "impressed with wind".

    The only take-away is to look at business and I am sure there are now far more jobs from renewables than the coal industry, and he's not stupid enough to rock that boat.
     
  11. RubberToe

    RubberToe Supporting the greater good

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    • Informative x 3

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