- Mar 31, 2009
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Nearly half of US coal is produced by companies that have declared bankruptcy — and Trump won’t fix thatWhy was Obama so determined to destroy an industry that was dead anyway? Good Allah you 'tards can't reason.
Now the MARKET gets to decide, not the Demonrat Party!
Don't look dead to me
View attachment 119276
When Peabody Energy, the biggest coal producer in the US, declared bankruptcy in April, it joined a long list of coal compatriots in the chapter 11 club.
Arch Coal, the country’s second biggest producer, filed for bankruptcy in January, and Alpha Natural Resources, the fourth biggest, sought chapter 11 protection in August 2015 (it emerged from bankruptcy in July 2016).
But that doesn’t mean the companies stopped mining or producing the fuel. In fact, approximately 44% of US coal now comes from companies that have declared bankruptcy sometime in the last four years. Those are troubling stats for President-elect Donald Trump, who campaigned on the promise of bringing the country’s declining coal industry back to life.
Even with the orange clown running things, coal is on life support and fading fast.
Peabody and Arch are exiting bankruptcy.