Phil1111 1,183 #1 Posted April 23, 2020 Coronavirus Accelerates Decline of Slumping Coal Industry "Before the intensification of the coronavirus pandemic in the US, we expected that coal production would fall by15%-20% in the US, to about 550 million st-600 million st," Moody's said. "We now expect that the industry conditions will worsen beyond this forecast" as demand weakens for electricity in the commercial and industrial markets.... "Equity and debt trading levels for coal companies have worsened substantially from a trifecta of factors: a weakening export market in the second half of 2019, multiple announcements that major investors would divest coal-related holdings, and the broader weakening that occurred with the global spread of the coronavirus in March 2020," Moody's said. Five US coal companies filed for bankruptcy in 2019 " Longview Power, which calls itself “one of the newest, most efficient and cleanest coal-fired power plants in the United States,” filed for bankruptcy April 14 — its second time since it started operating in 2011.Its plans to add a natural gas power plant and solar farm to its portfolio are still on deck, the company said... The nation’s largest private coal miner entered bankruptcy in October and has been unable to find a buyer. The company warned a federal bankruptcy judge earlier this month that it might be forced to liquidate if it can’t shed health care payments for retirees. The company was founded by Robert Murray, a prominent supporter of President Donald Trump who has pressed the administration to bail out coal companies. In Pennsylvania, the company owns the nonproducing 84 Mine in Washington County." Sorry Brent. Quote Share this post Link to post Share on other sites
DJL 235 #2 April 23, 2020 23 minutes ago, Phil1111 said: The nation’s largest private coal miner entered bankruptcy in October and has been unable to find a buyer. The company warned a federal bankruptcy judge earlier this month that it might be forced to liquidate if it can’t shed health care payments for retirees. The company was founded by Robert Murray, a prominent supporter of President Donald Trump who has pressed the administration to bail out coal companies. In Pennsylvania, the company owns the nonproducing 84 Mine in Washington County." The climate denial industry lost one of its paychecks. Quote Share this post Link to post Share on other sites
CygnusX-1 43 #3 April 27, 2020 This is just a temporary setback. Coal will be back bigly when we start investing in beautiful clean coal. Some people are saying all you need to do to get clean coal is to wash it with Dawn dishwater soap. That seems promising to me. We should investigate that. I mean what do we have to lose? 1 Quote Share this post Link to post Share on other sites
ryoder 1,590 #4 April 27, 2020 It's not dead, it's just resting. Quote Share this post Link to post Share on other sites
kallend 2,148 #5 April 27, 2020 4 hours ago, CygnusX-1 said: This is just a temporary setback. Coal will be back bigly when we start investing in beautiful clean coal. Some people are saying all you need to do to get clean coal is to wash it with Dawn dishwater soap. That seems promising to me. We should investigate that. I mean what do we have to lose? Not Dawn; this: https://www.amazon.com/Wrights-Coal-Tar-Soap-pack/dp/B001RYUD7S Quote Share this post Link to post Share on other sites
