Keyword: peabodyenergy
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President Donald Trump is expected to lift a moratorium on federal coal-mining leases -- though it probably won’t do the industry much good until years after he’s left office. That’s because U.S. coal companies including Peabody Energy Corp. won’t be looking to secure new reserves of the fossil fuel on federal land for years, especially as mining slows amid the sector’s worst downturn in generations. Production in Wyoming and Montana, where much of government coal is located, fell 18 percent in 2016 from the prior year. Coal’s share of U.S. power generation has plunged in the face of competition from...
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Peabody Energy, the world's largest private-sector coal producer, warned early Wednesday it may go out of business, the latest sign of the brutal conditions in the battered industry. In a regulatory filing the company said that ongoing losses and its decision to miss certain interest payments means it may not have enough cash to "sustain operations and continue as a going concern."
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The real winner of President Barack Obama’s so-called “war on coal” isn’t the EPA, nor is it the natural gas industry. It’s liberal billionaire George Soros.Last week, Obama’s EPA announced sweeping regulations for U.S. power plants, forcing them to drastically reduce carbon dioxide emissions 32 percent by 2030. The news sent shockwaves through the coal industry, sending stocks tumbling and forcing the industry’s two biggest players to consider bankruptcy filings.That’s where liberal billionaire Soros steps in. In the days after the Clean Power Plan was announced, Soros bought more than 1 million shares of Peabody Energy and 553,200 shares of...
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I predicted in this column last week that the left wasn’t going to kill off the coal industry so much as it was going to steal it. That prediction is already becoming true courtesy of billionaire George Soros. U.S. Securities and Exchange Act filings indicate that Soros has purchased an initial 1 million shares of Peabody Energy and 553,200 shares of Arch Coal, the two largest publicly traded U.S. coal companies. As pointed out last week, both companies have been driven perilously close to bankruptcy by the combination of President Obama’s “war on coal” and inexpensive natural gas brought on...
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The Administrator of the Environmental Protection Agency (EPA), Gina McCarthy, speaks at the Center for American Progress' 2014 Making Progress Policy Conference in Washington November 19, 2014. REUTERS/Gary Cameron Harvard Professor Laurence Tribe has been getting a lot of press in advance of his representation of Peabody Energy in its dispute with the Obama Administration over the constitutionality of the Environmental Protection Agency’s carbon dioxide emission regulations. The New York Times reported (April 6) that many of Tribe’s colleagues at Harvard Law School are “bewildered and angry.” Jody Freeman, director of the environmental law program at Harvard Law School,...
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Laurence H. Tribe, the highly regarded liberal scholar of constitutional law, still speaks of President Obama as a proud teacher would of a star student. “He was one of the most amazing research assistants I’ve ever had,” Mr. Tribe said in a recent interview. Mr. Obama worked for him at Harvard Law School, where Mr. Tribe has taught for four decades. Many in the Obama administration and at Harvard are bewildered and angry that Mr. Tribe, who argued on behalf of Al Gore in the 2000 Bush v. Gore Supreme Court case, has emerged as the leading legal opponent of...
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The world’s largest private sector coal business, the Peabody Energy Company (PEC) has filed a mammoth 240-page “Petition for Reconsideration,” a full-blown legal challenge against the U.S. Environmental Protection Agency. The petition must be answered and covers the entire body of leaked emails from ‘Climategate’ as well as those other ‘gate’ revelations including the frauds allegedly perpetrated under such sub-headings as ‘Himalayan Glaciers,’ ‘African Agricultural Production,’ ‘Amazon Rain Forests,’ ‘Melting Mountain Ice,’ ‘Netherlands Below Sea Level’ as well as those much-publicized abuses of the peer-review literature and so called ‘gray literature.’ These powerful litigants also draw attention to the proven...
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BLACK MESA, Ariz. – The gigantic earthmoving crane sits idle, stilled by a legal, cultural and environmental dispute playing out far from the rich vein of coal beneath the desert of remote northeastern Arizona. Some welcome the idling of the crane, calling it a symbol of the rape of the land and precious water below. Others, mostly American Indians who have come to depend on the high-paying jobs at the mine, are furious. For 35 years, the Black Mesa Mine has produced coal for a power plant in southern Nevada. But the plant suspended operations at the end of December,...
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LAUGHLIN, Nev. - A large coal-fired power plant will close at the end of the year rather than violate a court-ordered deadline to install an estimated $1.1 billion in pollution-control measures. Southern California Edison said Thursday the Mohave Generating Station, at the center of an environmental dispute several years ago, would close. The plant has provided the utility with 7 percent of its electricity, but the company said its 13 million customers would not be immediately affected because of other power sources. Under a 1999 consent decree won by environmental groups, the aging Mohave plant was required to upgrade its...
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