End Of An Era: Peabody Declares Bankruptcy

Oilprice.com ^ | 13-04-2016 | Obunga-bunga

[DoodleDawg]

This was Obamas stated goal, bankrupt the coal industry. I wonder how long before China buys it?

Based on the story it looks like Peabody was able to do that without much help from Obama. They spent billions expanding their capacity just before national and international demand for coal went into the toilet.

[Trod Upon]

Another scalp for the filth’s lodgepole.

[DoodleDawg]

Then the coal company came with the world's largest shovel
And they tortured the timber and stripped all the land
Well, they dug for their coal till the land was forsaken
Then they wrote it all down as the progress of man

And 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 asking
Mister Peabody's coal train has hauled it away"

- "Paradise" by John Prine

[stocksthatgoup]

Obama promises made, promises kept

[fruser1]

8300 that should march to the EPA, now that they will be on the dole.

[RayChuang88]

They spent billions expanding their capacity just before national and international demand for coal went into the toilet.

Just in time for a rapid expansion in the natural gas supply through fracking and the exponential drop in the price of rooftop solar panels. Ouch.

[Macoozie]

"- "Paradise" by John Prine "

Yaowzaaaah!

Last time I heard that "groovy new tune", I was floating in a pool in Marion, SC getting ready to go to Myrtle Beach for a weekend romp.

Some things just make you feel old.

[DoodleDawg]

Some things just make you feel old.

My dad was from Chicago and was a big fan of John Prine, Steve Goodman, Bonnie Koloc, and the rest of the Chicago folk music scene. I grew up listening to them.