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More Coal Jobs Winning!
One of oldest coal companies in US files for bankruptcy
https://www.washingtonpost.com/business/one-of-oldest-us-coal-companies-files-for-bankruptcy/2018/10/09/ec8d00e6-cbf2-11e8-ad0a-0e01efba3cc1_story.html?noredirect=on&utm_term=.80e62ef06a21
HELENA, Mont. — One of the oldest coal companies in the U.S. filed for bankruptcy protection Tuesday to deal with more than $1.4 billion in debt amid declining demand for the fuel.
Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. Bankruptcy Court in Houston as part of a restructuring agreement with an unnamed group of lenders.
Westmoreland, which operates mines across the U.S. and Canada, is the fourth major coal company to file for bankruptcy in the past three years, joining Peabody Energy Corp., Arch Coal and Alpha Natural Resources.
...
Coal companies have struggled as demand drops due to a glut of cheap natural gas, the rise of renewable energy sources and plans by some states to reduce or eliminate coal from their energy portfolios.
Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. Bankruptcy Court in Houston as part of a restructuring agreement with an unnamed group of lenders.
Westmoreland, which operates mines across the U.S. and Canada, is the fourth major coal company to file for bankruptcy in the past three years, joining Peabody Energy Corp., Arch Coal and Alpha Natural Resources.
...
Coal companies have struggled as demand drops due to a glut of cheap natural gas, the rise of renewable energy sources and plans by some states to reduce or eliminate coal from their energy portfolios.
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