Tough coal market means big loss for Alpha Natural

Trakar

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Feb 28, 2011
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Tough coal market means big loss for Alpha Natural

NEW YORK (AP) — Coal producer Alpha Natural Resources Inc. said Wednesday it lost $2.2 billion in the second quarter as the industry struggled to compete with cheap natural gas and demand waned in some key markets.
Alpha recorded about $2.5 billion in pretax charges for restructuring and the declining value of some assets. But even without those charges, its loss was larger than Wall Street expected.
Revenue rose 15 percent to $1.85 billion but that also came in below expectations.
The coal industry has been battered this year by a combination of factors: Many U.S. utilities are favoring cheap natural gas to generate electricity instead of coal. Mild weather further reduced demand. And recession in many European countries combined with a slowdown in once red-hot Asian growth stifled exports. Alpha mines thermal coal used for power generation and metallurgical coal, used to produce steel.

Read more: Tough coal market means big loss for Alpha Natural - seattlepi.com
 
Obama's plan to bankrupt our nation's Coal industry seems to be working.
 
Irony is that most natural gas E&P companies are also losing huge sums due to suppressed prices.
Yet Obama is stalling on approval of LNG terminals that would allow exports.
 
Obama's plan to bankrupt our nation's Coal industry seems to be working.

Coal's getting off cheap, the nation will be paying to clean up coal's pollution of the environment for centuries, the industry better hope it goes bankrupt before the class action suits start rolling in.
 
Watch obama ask the coal miners for votes!

If they want help in retraining into a useful, sustainable industry with a future, Obama is certainly better than Romney, though to tell you the truth the difference is so minorly distinguishable that I'm still not certain who I will vote for.
 
World Carbon Emissions Hit New Record in 2011...
:eusa_eh:
With Carbon Dioxide Emissions at Record High, Worries on How to Slow Warming
Dec 3, 2012 - Climate change goals moving out of reach, scientists warn
Global emissions of carbon dioxide were at a record high in 2011 and are likely to take a similar jump in 2012, scientists reported Sunday — the latest indication that efforts to limit such emissions are failing. Emissions continue to grow so rapidly that an international goal of limiting the ultimate warming of the planet to 3.6 degrees Fahrenheit, established three years ago, is on the verge of becoming unattainable, said researchers affiliated with the Global Carbon Project.

Josep G. Canadell, a scientist in Australia who leads that tracking program, said Sunday in a statement that salvaging the goal, if it can be done at all, “requires an immediate, large and sustained global mitigation effort.” Yet nations around the world, despite a formal treaty pledging to limit warming — and 20 years of negotiations aimed at putting it into effect — have shown little appetite for the kinds of controls required to accomplish those stated aims.

Delegates from nearly 200 nations are meeting in Doha, Qatar, for the latest round of talks under the treaty, the United Nations Framework Convention on Climate Change. Their agenda is modest this year, with no new emissions targets and little progress expected on a protocol that is supposed to be concluded in 2015 and take effect in 2020.

Christiana Figueres, the executive secretary of the climate convention, said the global negotiations were necessary, but were not sufficient. “We won’t get an international agreement until enough domestic legislation and action are in place to begin to have an effect,” she said in an interview. “Governments have to find ways in which action on the ground can be accelerated and taken to a higher level, because that is absolutely needed.”

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Tough coal market means big loss for Alpha Natural

NEW YORK (AP) — Coal producer Alpha Natural Resources Inc. said Wednesday it lost $2.2 billion in the second quarter as the industry struggled to compete with cheap natural gas and demand waned in some key markets.
Alpha recorded about $2.5 billion in pretax charges for restructuring and the declining value of some assets. But even without those charges, its loss was larger than Wall Street expected.
Revenue rose 15 percent to $1.85 billion but that also came in below expectations.
The coal industry has been battered this year by a combination of factors: Many U.S. utilities are favoring cheap natural gas to generate electricity instead of coal. Mild weather further reduced demand. And recession in many European countries combined with a slowdown in once red-hot Asian growth stifled exports. Alpha mines thermal coal used for power generation and metallurgical coal, used to produce steel.

Read more: Tough coal market means big loss for Alpha Natural - seattlepi.com

Now watch as President Obama sends his EPA nazis in to put a stake in it's heart to finish it off.
 

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