This is consistent with several other reports. Big coal companies spent billions buying up coal reserves on the assumption that demand would continue to grow, but instead, they were left holding stranded assets now worth pennies on the dollar. But rather than admit they made a bad investment and have bankrupted themselves from the debt service on investments that are not earning any revenue, it is easier to blame Obama and the "War on Coal". That way, they can loot the miner's pension funds while giving themselves bonuses for their business decisions.
JBK
________________________________ From: ec-bounces@osenergy.org ec-bounces@osenergy.org on behalf of Paul Wilson pjgrunt@gmail.com Sent: Friday, February 26, 2016 11:20 AM To: WV Chapter Energy Committee; Coal Alerts Subject: [EC] Article from the Rhodium Group: The Hidden Cause of America's Coal Collapse
Thought this may be of use to some folks. fyi, paul w.
-- Paul Wilson Project Healing Waters Fly-fishing Sierra Club Military Outdoors 504 Jefferson Ave Charles Town, WV 25414-1130 Cell: 304-279-1361
"There is no forward until you have gone back" ~Buddha
"In all things of nature there is something of the marvelous" ~ Aristotle
JUSTICE, ONLY JUSTICE, SHALT THOU PURSUE. Deuteronomy 16:20