World's largest private coal company files for bankruptcy

[NYcarbineer]

FTA: Coal companies have been under immense stress in recent years as the growth in supply of natural gas and the cheap prices that followed has driven down demand for coal, and President Obama's environmental regulations have hurt the industry at the same time. The company also cited the slowing of the Chinese economy as a reason for their bankruptcy.

Damn Obama, he made gas cheap....I mean, He controls the Chinese Economy....Wait....He has regulations!!! (and made gas cheap but dont talk about that)

Except he vowed to destroy coal back in 2008...nice try though

He isn't to blame. Stop lying.

according to the OP he is..".Another win and a promise kept for Obama". stop lying

He isn't to blame. Why would Peabody have been trying to expand US operations throughout Obama's presidency if they were doomed to be bankrupted?

 

[g5000]

We need Bush back to drive up the price of coal, gas, and oil!

 

[ClosedCaption]

FTA: Coal companies have been under immense stress in recent years as the growth in supply of natural gas and the cheap prices that followed has driven down demand for coal, and President Obama's environmental regulations have hurt the industry at the same time. The company also cited the slowing of the Chinese economy as a reason for their bankruptcy.

Damn Obama, he made gas cheap....I mean, He controls the Chinese Economy....Wait....He has regulations!!! (and made gas cheap but dont talk about that)

Except he vowed to destroy coal back in 2008...nice try though

Except he didnt and even a vow doesnt put in him charge of the Chinese Economy

 

[SwimExpert]

Except he vowed to destroy coal back in 2008...nice try though

You also claim to be intelligent. But I'm not putting much stock in that.

It's simple supply and demand. Market economics. Why do you hate the free market?

 

[g5000]

 

[ClosedCaption]

FTA: Coal companies have been under immense stress in recent years as the growth in supply of natural gas and the cheap prices that followed has driven down demand for coal, and President Obama's environmental regulations have hurt the industry at the same time. The company also cited the slowing of the Chinese economy as a reason for their bankruptcy.

Damn Obama, he made gas cheap....I mean, He controls the Chinese Economy....Wait....He has regulations!!! (and made gas cheap but dont talk about that)

The gas and oil boom in the US is also going bust because of the low prices. Something I tried to explain to the mooks around here a long time ago.

The Free Market types dont seem to see the correlation between a cheaper product and reduced profits.

 

[g5000]

While Bush was President, oil went up, up, up, UP!

Obama's doing it wrong!

 

[The VOR]

The company cited cheap natural gas as the main reason.

SSHHHHHHHHHHHHHHHHH

Nutters don't deal in facts. You should know that by now. They despise facts.

 

[Remodeling Maidiac]

Another Obama campaign promise fulfilled

 

[ClosedCaption]

While Bush was President, oil went up, up, up, UP!

Obama's doing it wrong!

Sassy be like: Darnit Obammy, You put people out of work with lower gas prices! How will people earn more if gas costs less? Something communists something and something about lack of intellect and/or looks

 

[Remodeling Maidiac]

The company cited cheap natural gas as the main reason.

SSHHHHHHHHHHHHHHHHH

Nutters don't deal in facts. You should know that by now. They despise facts.

This board isn't interested in facts. Just party politics & insults.

I do love a good smack down tho

 

[NYcarbineer]

Coal, oil, and natural gas prices have been falling for years.

Yes, let's "blame" Obama for that!

The ODS'ers can blame Obama for anything that changes no matter which direction it changes.

 

[NYcarbineer]

How much more are you willing to pay for gas and electric in order to keep the coal companies afloat?

 

[SassyIrishLass]

Except he vowed to destroy coal back in 2008...nice try though

You also claim to be intelligent. But I'm not putting much stock in that.

It's simple supply and demand. Market economics. Why do you hate the free market?

Maybe you should have listened to Ears when he campaigned instead of swooning......you idiot liberals really are too fucking stupid to live.

 

[rightwinger]

I think I will stay with my cheap Obamagas rather than switch to coal

Thanks President Obama!

 

[SassyIrishLass]

The forum pussies....

 

[ShootSpeeders]

8 years ago it's stock was at 1200 but had dropped to 2. Everyone saw this bankruptcy coming and BTU has joined a host of other formerly strong coal companies that went belly-up. Obama bailed out the useless bankers but refused to help coal.

 

[g5000]

Except he vowed to destroy coal back in 2008...nice try though

You also claim to be intelligent. But I'm not putting much stock in that.

It's simple supply and demand. Market economics. Why do you hate the free market?

Maybe you should have listened to Ears when he campaigned instead of swooning......you idiot liberals really are too fucking stupid to live.

Maybe you should have read the entirety of Obama's statement instead of drinking the carefully filtered piss which was poured for you.

Here is the entirely of Obama's statement which contains the "electricity rates would necessarily skyrocket" phrase which is always taken out of context:

OBAMA: The problem is not technical, and the problem is not sufficient mastery of the legislative intricacies of Washington.

The problem is can you get the American people to say this is really important and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake, and climate change is a great example.

When I was asked earlier about the issue of coal…under my plan of a cap and trade system, electricity rates would necessarily skyrocket…even regardless of what I say about whether coal is good or bad, because I’m capping greenhouse gasses, coal power plants, natural gas…you name it…whatever the plants were, whatever the industry was, they would have to retro-fit their operations.

That will cost money…they will pass that money on to the consumers. You can already see what the arguments are going to be during the general election. People will say Obama and Al Gore …these folks...they're going to destroy the economy.

This is going to cost us 8 trillion dollars or whatever their number is. If you can’t persuade the American people that, yes, there is going to be some increase on electricity rates on the front end, but that over the long term, because of combinations of more efficient energy usage and changing light bulbs and more efficient appliances, but also technology improving how we can produce clean energy that the economy will benefit.

If we can’t make that argument persuasively enough, you can be Lyndon Johnson. You can be the master of Washington. You’re not gonna get that done.



Obama I 8217 ll make energy prices 8220 skyrocket 8221 Hot Air


Obama was not saying he wanted to destroy the economy. He was not saying he wanted to drive energy prices through the roof. He was saying the economy would BENEFIT.

He was saying you tards would CLAIM his goal was to destroy the economy.

Obama's prediction was correct. You retards made bogus claims about how he was going to destroy the economy.

Your predictions have been utterly wrong. You tards predicted 6 dollar, or higher, gasoline prices. FAIL, across the board.

 

[g5000]

A repost of something I put on this forum not long ago:

You want to hear a number that is mind boggling?

According to the CIA World Factbook, there are 1.656 trillion barrels of proved oil reserves.

That's not the mind boggling part. Hold on.

But first, I must specify what "proved oil reserves" means:

"Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions."

Okay. That's oil we know is there. It's money just sitting in the ground, waiting to be taken out and put in the bank.

Here's comes the mind blower.

The price of crude oil on January 31, 2014 was $102.10. The price of crude oil on January 31, 2016 was $29.78.

So, let's do the math and see how much wealth has gone up in smoke. Ready?

102.10 - 29.78 = 72.32.

So in the past two years, every proven reserve barrel of oil has lost $72.32 in value.

Multiply that by the 1.656 trillion barrels of proven reserves, and in the past two years $119,761,920,000,000 of wealth has vaporized.

$120 TRILLION!!!!

 

[g5000]

The forum pussies....

Poor Sassy. She can't make a cogent argument with the big boys and demonstrates her intellectual bandwidth is that of a bumper sticker.