Biggest coal company in the United States misses loan payment – may file bankruptcy

I’ Think is the alternative beside the coal, more popular like The Turbin or Solar Panel

Eideard


Burn, baby, burn – not much longer — Click to enlarge

The largest American coal miner, Peabody Energy, is delaying an interest payment due this week and warned that it may have to file for Chapter 11 bankruptcy protection.

Shares of Peabody Energy Corp. plummeted more than 40 percent before the market opened Wednesday. Its shares have already lost half their value in the last three months.

A slowing global economy and toughening environmental standards have slammed the coal industry, which is already beset by bankruptcies, shuttered mines and layoffs. Many electric power companies have shifted to using natural gas, which costs less than coal and produces less pollution…

And there’s an increasing number of regions smart enough to move towards the future by developing wind power and solar power.

St. Louis-based Peabody said it didn’t pay more than $70 million in interest payments that were due…

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