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Peabody Energy, the world’s largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt.
Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its Australian holdings would not be included in the Chapter 11 filing. The company attributed its financial woes to “a dramatic drop in the price of metallurgical coal, weakness in the Chinese economy, overproduction of domestic shale gas and ongoing regulatory challenges.” These market forces have made it difficult for Peabody to repay its debts after the company’s 2011 takeover of Australian rival Macarthur.
Peabody expects to stop trading company shares on the New York Stock Exchange — shares that have lost 99 percent of their value since their peak in 2008
Why is this "great news"?The World’s Largest Private Coal Company Just Filed For Bankruptcy
by Bryan Dewan Apr 13, 2016 12:29 pm
The World’s Largest Private Coal Company Just Filed For Bankruptcy
Peabody Energy, the world’s largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt.
Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its Australian holdings would not be included in the Chapter 11 filing. The company attributed its financial woes to “a dramatic drop in the price of metallurgical coal, weakness in the Chinese economy, overproduction of domestic shale gas and ongoing regulatory challenges.” These market forces have made it difficult for Peabody to repay its debts after the company’s 2011 takeover of Australian rival Macarthur.
Peabody expects to stop trading company shares on the New York Stock Exchange — shares that have lost 99 percent of their value since their peak in 2008
Great news!!!!!
If coal is done, so is Solar and Wind, you need Coal to build Solar and Wind.Unless they have other investments, they are not going to survive. Coal is done.
Yet coal is the biggest provider of electricity in the worldUnless they have other investments, they are not going to survive. Coal is done.
You don't know much about energy do you. Coal is needed to make Wind Turbines, you can not make all those steel towers without the energy that comes from coal. You can not make the copper or aluminum used in Wind Turbines without Coal. So given that the Democrats solution to Coal, is Wind, it is obvious to see that Democrats are simply liars. Sorry to state in such blunt terms but the facts are facts. Wind Turbines are dependent on the Coal industry.Fossil fuels are on the way out, even they know it by now. Just as the Republicans figured out they will soon be a permanent minority because of demographics changes.
But just as with the whale oil industry or the incandescent bulb, there will be whining and crying of gloom and doom. Then everyone will slowly change over to the new and the old will fade into that 1950s conservative fantasy land.
The change over from fossil fuels will be a lot tougher but when you have no choice you figure it out.
By the way, how do conservatives see at night without those incandescent bulbs? Maybe they went back to candles. The same candles conservatives wailed about losing 130 years ago.
You don't know much about energy do you. Coal is needed to make Wind Turbines, you can not make all those steel towers without the energy that comes from coal. You can not make the copper or aluminum used in Wind Turbines without Coal. So given that the Democrats solution to Coal, is Wind, it is obvious to see that Democrats are simply liars. Sorry to state in such blunt terms but the facts are facts. Wind Turbines are dependent on the Coal industry.Fossil fuels are on the way out, even they know it by now. Just as the Republicans figured out they will soon be a permanent minority because of demographics changes.
But just as with the whale oil industry or the incandescent bulb, there will be whining and crying of gloom and doom. Then everyone will slowly change over to the new and the old will fade into that 1950s conservative fantasy land.
The change over from fossil fuels will be a lot tougher but when you have no choice you figure it out.
By the way, how do conservatives see at night without those incandescent bulbs? Maybe they went back to candles. The same candles conservatives wailed about losing 130 years ago.
Wind is also dependent on Petroleum, specifically the chemicals that come from Petroleum that are used to fabricate the fiberglass used in Wind Turbines. Further you need Petroleum lubricants to keep those monsters turning, so building more Wind Turbines will simply use more Oil, faster.
Can there be a change from Fossil fuels to something driven by the Wind and Solar, no, not at all, yep us conservatives are stuck in the 1950's, the Nuclear Age, whereas the Democrats greatest idea is the oldest, least imaginative, to build Wind Mills which are a technology from 100's of years ago, and when that technology fails, as it has, what is the Democrats great innovative scientific solution? To build bigger, to build more.
Democrats are literal idiots, that applies to biofuels as well, which proceed Petroleum. Biofuels another old technology the Democrats pretend they discovered, which the democrats think is new, modern, Biofuels were first used to replace Whale Oil, funny how everything the democrats do is old and tired.
Democrats ideas of a new, Modern, Utopia, is about as progressive as Marxism, and causes as much harm.
You don't know much about energy do you. Coal is needed to make Wind Turbines, you can not make all those steel towers without the energy that comes from coal. You can not make the copper or aluminum used in Wind Turbines without Coal. So given that the Democrats solution to Coal, is Wind, it is obvious to see that Democrats are simply liars. Sorry to state in such blunt terms but the facts are facts. Wind Turbines are dependent on the Coal industry.Fossil fuels are on the way out, even they know it by now. Just as the Republicans figured out they will soon be a permanent minority because of demographics changes.
But just as with the whale oil industry or the incandescent bulb, there will be whining and crying of gloom and doom. Then everyone will slowly change over to the new and the old will fade into that 1950s conservative fantasy land.
The change over from fossil fuels will be a lot tougher but when you have no choice you figure it out.
By the way, how do conservatives see at night without those incandescent bulbs? Maybe they went back to candles. The same candles conservatives wailed about losing 130 years ago.
Wind is also dependent on Petroleum, specifically the chemicals that come from Petroleum that are used to fabricate the fiberglass used in Wind Turbines. Further you need Petroleum lubricants to keep those monsters turning, so building more Wind Turbines will simply use more Oil, faster.
Can there be a change from Fossil fuels to something driven by the Wind and Solar, no, not at all, yep us conservatives are stuck in the 1950's, the Nuclear Age, whereas the Democrats greatest idea is the oldest, least imaginative, to build Wind Mills which are a technology from 100's of years ago, and when that technology fails, as it has, what is the Democrats great innovative scientific solution? To build bigger, to build more.
Democrats are literal idiots, that applies to biofuels as well, which proceed Petroleum. Biofuels another old technology the Democrats pretend they discovered, which the democrats think is new, modern, Biofuels were first used to replace Whale Oil, funny how everything the democrats do is old and tired.
Democrats ideas of a new, Modern, Utopia, is about as progressive as Marxism, and causes as much harm.
Come now elektra you are a die hard communist. Stop pretending you aren't.
Yes we'll use petroleum and other materials to produce certain things for a while, but burning them for energy is going away.
Not sure why whiners like you are even upset about the change as it will mean cleaner air, water, and land on a global scale. People like you just need your Soviet Union to push against. You always need a wall to push against because you can't just stand up on your own without leaning on something.
I can't be angry with you but I do feel sorry for you.
You don't know much about energy do you. Coal is needed to make Wind Turbines, you can not make all those steel towers without the energy that comes from coal. You can not make the copper or aluminum used in Wind Turbines without Coal. So given that the Democrats solution to Coal, is Wind, it is obvious to see that Democrats are simply liars. Sorry to state in such blunt terms but the facts are facts. Wind Turbines are dependent on the Coal industry.Fossil fuels are on the way out, even they know it by now. Just as the Republicans figured out they will soon be a permanent minority because of demographics changes.
But just as with the whale oil industry or the incandescent bulb, there will be whining and crying of gloom and doom. Then everyone will slowly change over to the new and the old will fade into that 1950s conservative fantasy land.
The change over from fossil fuels will be a lot tougher but when you have no choice you figure it out.
By the way, how do conservatives see at night without those incandescent bulbs? Maybe they went back to candles. The same candles conservatives wailed about losing 130 years ago.
Wind is also dependent on Petroleum, specifically the chemicals that come from Petroleum that are used to fabricate the fiberglass used in Wind Turbines. Further you need Petroleum lubricants to keep those monsters turning, so building more Wind Turbines will simply use more Oil, faster.
Can there be a change from Fossil fuels to something driven by the Wind and Solar, no, not at all, yep us conservatives are stuck in the 1950's, the Nuclear Age, whereas the Democrats greatest idea is the oldest, least imaginative, to build Wind Mills which are a technology from 100's of years ago, and when that technology fails, as it has, what is the Democrats great innovative scientific solution? To build bigger, to build more.
Democrats are literal idiots, that applies to biofuels as well, which proceed Petroleum. Biofuels another old technology the Democrats pretend they discovered, which the democrats think is new, modern, Biofuels were first used to replace Whale Oil, funny how everything the democrats do is old and tired.
Democrats ideas of a new, Modern, Utopia, is about as progressive as Marxism, and causes as much harm.
Come now elektra you are a die hard communist. Stop pretending you aren't.
Yes we'll use petroleum and other materials to produce certain things for a while, but burning them for energy is going away.
Not sure why whiners like you are even upset about the change as it will mean cleaner air, water, and land on a global scale. People like you just need your Soviet Union to push against. You always need a wall to push against because you can't just stand up on your own without leaning on something.
I can't be angry with you but I do feel sorry for you.
Solar and Wind increase the use of Coal and Petroleum, so your idea is just that an idea. Using Coal to produce more power plants, millions more, millions of solar panels and millions of wind turbines, increases pollution. Only in a land devoid of Science can you make the claim that making more stuff that gives us little in return is a reduction, not an increase in pollution.
A die hard communist? You have taken my money to create an industry and then you force me to buy the product that your new Green Industry produces and you call me a die hard communist?
Marxism is the Green Renewable Wind and Solar industry, elitists decide what is best, confiscate our labor, and force us to buy the failed product at an extremely high price.
I need the Soviet Union to push against? That would be Communism, not Marxism, you should get some education. Last I checked there is no need to push against the Communism of the Old Soviet Union, that type of government failed and left millions upon million of dead.
The Gulag ArchipelagoDos vedanya Tovarisch.
The World’s Largest Private Coal Company Just Filed For Bankruptcy
by Bryan Dewan Apr 13, 2016 12:29 pm
The World’s Largest Private Coal Company Just Filed For Bankruptcy
Peabody Energy, the world’s largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt.
Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its Australian holdings would not be included in the Chapter 11 filing. The company attributed its financial woes to “a dramatic drop in the price of metallurgical coal, weakness in the Chinese economy, overproduction of domestic shale gas and ongoing regulatory challenges.” These market forces have made it difficult for Peabody to repay its debts after the company’s 2011 takeover of Australian rival Macarthur.
Peabody expects to stop trading company shares on the New York Stock Exchange — shares that have lost 99 percent of their value since their peak in 2008
Great news!!!!!
No, conservatives will not be a permanent minority. I am still here. Plus I think the more college graduates realize that only federal employees get student loan forgiveness after being jobless pions for a decade, the republican numbers will start to grow. But again, the communist will still have the option to teach then, that republicans are the big con underwriters and not them.Fossil fuels are on the way out, even they know it by now. Just as the Republicans figured out they will soon be a permanent minority because of demographics changes.
But just as with the whale oil industry or the incandescent bulb, there will be whining and crying of gloom and doom. Then everyone will slowly change over to the new and the old will fade into that 1950s conservative fantasy land.
The change over from fossil fuels will be a lot tougher but when you have no choice you figure it out.
By the way, how do conservatives see at night without those incandescent bulbs? Maybe they went back to candles. The same candles conservatives wailed about losing 130 years ago.
You probably live in your mother's basement and do not pay an electric bill.The World’s Largest Private Coal Company Just Filed For Bankruptcy
by Bryan Dewan Apr 13, 2016 12:29 pm
The World’s Largest Private Coal Company Just Filed For Bankruptcy
Peabody Energy, the world’s largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt.
Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its Australian holdings would not be included in the Chapter 11 filing. The company attributed its financial woes to “a dramatic drop in the price of metallurgical coal, weakness in the Chinese economy, overproduction of domestic shale gas and ongoing regulatory challenges.” These market forces have made it difficult for Peabody to repay its debts after the company’s 2011 takeover of Australian rival Macarthur.
Peabody expects to stop trading company shares on the New York Stock Exchange — shares that have lost 99 percent of their value since their peak in 2008
Great news!!!!!
