Skip to content

LUMP OF COAL - LITERALLY! Coal companies pushed to brink of insolvency by Obama policies

By Catholic Online (NEWS CONSORTIUM)
7/27/2014 (3 years ago)
Catholic Online (

Lower prices, rising competition and oversupply takes toll on energy sector

Dealing with cheap natural gas and tighter regulation, the U.S. coal industry has fallen on hard times. The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of insolvency, with many companies going out of business.

The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of insolvency, with many companies going out of business.

The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of insolvency, with many companies going out of business.


By Catholic Online (NEWS CONSORTIUM)
Catholic Online (
7/27/2014 (3 years ago)

Published in Business & Economics

Keywords: Coal mining, bankruptcy, frackin, competition

LOS ANGELES, CA (Catholic Online) - An increase in fracking has led some electric utilities away from coal. Adding to coal's woes is the fact that the electric-power sector will use three percent less coal next year and isn't expected to recover to 2011 levels by 2040, the last year of a U.S. Energy Department forecast period.

The coal mining industry is finding itself unable to give the stuff away, as exports are failing to save U.S. miners. Slowing Chinese growth and rising competition from overseas, including increased Australian output, have sent the price of metallurgical coal, commonly used in steelmaking, to a six-year low.

Emergency Fund - SAVE Iraqi Christians from Genocide

Frequently used in power plants to produce electricity, Central Appalachian thermal coal fell on the New York Mercantile Exchange by 4.6 percent in 2013 compared with 2012.

Coal plants capable of generating 60,000 megawatts, enough to power 48 million average U.S. homes, will now shutter and close by 2020 because of tighter pollution regulations, slow growth in power use, and competition from natural gas. According to the Energy Department, that's about 20 percent of coal plants by capacity and about six percent of total power-generating capacity as of 2012.

At 3.2 percent of coal-fired capacity, enough for eight million homes, disappeared in 2012. The balance of closings will occur by 2016, when new clean-air regulations take effect.

At least three coal-related energy producers filed for bankruptcy in less than two years. Longview Power LLC, Dynegy Inc. (DYN) and Edison Mission Energy. The bankruptcies of James River, America West Resources Inc. (AWSRQ), Trinity Coal Corp., Americas Energy Co., Clearwater Resources LP and Consolidated Energy add credence to the concern for the deteriorating market for U.S. coal.

Many companies not in bankruptcy are cutting production and reporting revenue declines.

Lower prices, rising competition and oversupply have taken their toll on coal, cutting profits have pushed many such companies out of business. 


'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'

Copyright 2018 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for FEBRUARY 2018
Say 'No' to Corruption.
That those who have material, political or spiritual power may resist any lure of corruption.


More Business & Economics

Stock market tumbles, is a recession on the way? Watch

Image of The stock market took a tumble yesterday but may recover today. Nobody is certain of what's next.

Global markets have dropped for the past few days, and just this morning have rebounded. It remains to be seen if the recovery is ... continue reading

Is free money a Christian solution to economic problems? Watch

Image of Is there a Christian solution to our economic problems?

The world is richer and more productive than ever before in history. Yet, income inequality is growing the poverty is on the rise. Middle ... continue reading

Income inequality - Here's why world poverty and hunger remain a problem, frustrating Pope Francis' efforts to solve the crisis Watch

Image of Pope Francis has spearheaded a campaign to end world hunger by 2020.

When Pope Francis accepted the chair of St. Peter, he pledged to end world hunger by 2020. By all appearances, it was an easy win. The math ... continue reading

Jobless claims historic low! - Why workers are getting raises this year, thanks to President Trump Watch

Image of Workers are finally being dealt back into the American Dream, thanks in part to President Trump's economic policies.

Say what you will about President Trump, but American workers are starting to "win" under his administration. Jobless claims have reached a ... continue reading

Retailers are feeling great again, but how about all those tired workers? Watch

Image of Amazon workers are being replaced by robots, but they aren't being laid off either. The growth of online retail means they can fill other roles, as the workload increases.

Early reports from the retail sector show that sales between November 1 and Christmas Eve were up 4.9 percent over last year. Workers ... continue reading

Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

School Teachers
Teacher lesson plans & resources

Support Free Education
Tax deductible support Free education

Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2018 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2018 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.