The Nation’s Largest Coal Mining Outfit Declares Bankruptcy

Peabody Energy of St. Louis, MO has filed for Chapter 11 bankruptcy, hoping to restructure some of the debt incurred by the company due to steadily dropping coal prices. Spokespeople say the company intends to continue operating, although given the global and long term projected decline in demand, particularly from China, the reduced cost for competing energy sources like natural gas and shale oil, and the increase of availability of renewable energy, it seems unlikely the coal industry will return to its former market position. Click the link for more information: http://www.npr.org/sections/thetwo-way/2016/04/13/474059310/u-s-coal-giant-peabody-energy-files-for-bankruptcy