• This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Western World's Largest Coal Company Goes Bankrupt

Northern Light

The Light of Truth
DP Veteran
Joined
Jan 7, 2013
Messages
6,972
Reaction score
4,324
Gender
Undisclosed
Political Leaning
Undisclosed
The Western World's Largest Coal Company Declares Bankruptcy

Peabody Energy, the largest coal company in the Western world, declared bankruptcy Wednesday. The announcement is a towering sign that coal power likely has reached a point of no return in a world seeking cleaner energy sources.

Nearly 200 countries committed last December in Paris to cut emissions of heat-trapping greenhouse gases. Burning coal for electricity emits twice the carbon dioxide of natural gas, and the resulting pollutants have been linked to thousands of premature deaths and asthma attacks annually in the United States alone. Plus, coal is now facing stiffer competition than ever from natural gas, wind, and solar. (Read more about why solar and wind are thriving.)

Market trends for coal “have turned markedly negative over recent months, contrary to many still optimistic forecasts,” says Tim Buckley of the Institute for Energy Economics and Financial Analysis, a research group that supports sustainable energy.

Peabody, based in St. Louis, joins other American coal companies that have recently declared bankruptcy, including Arch Coal and Alpha Natural Resources. Peabody produces roughly 170 million metric tons of coal a year—close to a fifth of the U.S. supply. (The world’s largest producer, Coal India, puts out about twice as much.)

Demand for its product is going down: The U.S. Energy Information Administration predicts natural gas will overtake coal as the leading fuel for the nation’s electricity in 2016. Last year, 80 percent of the power supply that was shut down came from coal.

Pretty big news in the energy sector. The article also sites declining demand from China and India as reasons, along with increase in natural gas use. Although those countries have reduced use, they're still using a lot of coal and creating new plants, which the article admits. However, I guess the reduction in demand was still enough to tip the scales for this company. There's no doubt that the market for coal is growing smaller as time goes on. There's also an obvious preference for natural gas, and the issue of fracking and environmental impact is being hotly debated lately.
 

reinoe

DP Veteran
Joined
Jul 8, 2013
Messages
16,824
Reaction score
7,183
Location
Out West
Gender
Male
Political Leaning
Centrist
I heard about this on NPR on my drive to work. Interesting stuff.
 

Velvet Elvis

DP Veteran
Joined
Jul 11, 2012
Messages
4,954
Reaction score
2,195
Location
Midwest
Gender
Male
Political Leaning
Libertarian - Right
Obama called it. When he was coronated, he promised to "bring the coal industry to its knees."

The irony here is that all those stupid union coal workers will continue to vote 'democrat.'
 

Northern Light

The Light of Truth
DP Veteran
Joined
Jan 7, 2013
Messages
6,972
Reaction score
4,324
Gender
Undisclosed
Political Leaning
Undisclosed
Obama called it. When he was coronated, he promised to "bring the coal industry to its knees."

The irony here is that all those stupid union coal workers will continue to vote 'democrat.'

How is Obama responsible? (Serious question.)
 

Fenton

DP Veteran
Joined
Nov 17, 2012
Messages
29,771
Reaction score
12,231
Gender
Male
Political Leaning
Conservative
I remember Obama saying energy prices would necessarily skyrocket too

That one statement should have raised a HUGE red flag for every voter in the Nation

Obama was more than willing to put his twisted ideology before the needs and concerns of the poor and middle class.
 

QuadpolarNutjob

DP Veteran
Joined
Aug 31, 2015
Messages
1,522
Reaction score
582
Gender
Male
Political Leaning
Centrist
good, higher energy costs for us, while china opens a new coal plant every weak. sounds like another ingenious democrat idea to bring the jobs back.
 

QuadpolarNutjob

DP Veteran
Joined
Aug 31, 2015
Messages
1,522
Reaction score
582
Gender
Male
Political Leaning
Centrist
I remember Obama saying energy prices would necessarily skyrocket too

That one statement should have raised a HUGE red flag for every voter in the Nation

Obama was more than willing to put his twisted ideology before the needs and concerns of the poor and middle class.

why would democrats care? they're all living off working americans tax dollars, collecting welfare and rioting when they don't get their way. something has to give, fortunately we have the guns, so when it gives it should at-least be quick.
 

OpportunityCost

DP Veteran
Joined
Jan 27, 2011
Messages
34,381
Reaction score
7,664
Gender
Male
Political Leaning
Conservative
How is Obama responsible? (Serious question.)

How can you not know about this?: Supreme Court's ruling comes too late for coal - POLITICO

Essentially, Obama had the EPA promulgate new regulations with no economic consideration whatsoever and it closed down more than a few coal plants. By the time SCOTUS ruled, it was too late, thousands of coal plant jobs were gone and many coal miner jobs as well.

On a personal note, my grandfather worked Peabody 10 in central Illinois. The age of AG and Coal are coming to a close in Illinois, Peabody was a big part of the coal side of that.
 

ludin

DP Veteran
Joined
Dec 3, 2013
Messages
57,470
Reaction score
14,585
Gender
Undisclosed
Political Leaning
Undisclosed
The Western World's Largest Coal Company Declares Bankruptcy



Pretty big news in the energy sector. The article also sites declining demand from China and India as reasons, along with increase in natural gas use. Although those countries have reduced use, they're still using a lot of coal and creating new plants, which the article admits. However, I guess the reduction in demand was still enough to tip the scales for this company. There's no doubt that the market for coal is growing smaller as time goes on. There's also an obvious preference for natural gas, and the issue of fracking and environmental impact is being hotly debated lately.

Not only that but all the regulations that have been dumped on them as well has not helped and probably cost them millions of dollars.
 

ludin

DP Veteran
Joined
Dec 3, 2013
Messages
57,470
Reaction score
14,585
Gender
Undisclosed
Political Leaning
Undisclosed
How can you not know about this?: Supreme Court's ruling comes too late for coal - POLITICO

Essentially, Obama had the EPA promulgate new regulations with no economic consideration whatsoever and it closed down more than a few coal plants. By the time SCOTUS ruled, it was too late, thousands of coal plant jobs were gone and many coal miner jobs as well.

On a personal note, my grandfather worked Peabody 10 in central Illinois. The age of AG and Coal are coming to a close in Illinois, Peabody was a big part of the coal side of that.

you have to remember that they don't care about the families or workers that depend on mining.
this is all about emotional meme. logic and reason play no part of what they do or why they do it.

those evil coal miners and oil companies must be punished. it doesn't matter that thousands of people
rely on them for their livelihood.
 

ludin

DP Veteran
Joined
Dec 3, 2013
Messages
57,470
Reaction score
14,585
Gender
Undisclosed
Political Leaning
Undisclosed
Obama called it. When he was coronated, he promised to "bring the coal industry to its knees."

The irony here is that all those stupid union coal workers will continue to vote 'democrat.'

yea I never understood that. we support the people that are attempting to kill off our jobs.
pretty stupid if you ask me.
 

minnie616

DP Veteran
Joined
Feb 4, 2012
Messages
23,389
Reaction score
26,137
Gender
Female
Political Leaning
Independent
How can you not know about this?: Supreme Court's ruling comes too late for coal - POLITICO

Essentially, Obama had the EPA promulgate new regulations with no economic consideration whatsoever and it closed down more than a few coal plants. By the time SCOTUS ruled, it was too late, thousands of coal plant jobs were gone and many coal miner jobs as well.

On a personal note, my grandfather worked Peabody 10 in central Illinois. The age of AG and Coal are coming to a close in Illinois, Peabody was a big part of the coal side of that.


So the Clean Air Act was passed in 1990 but it's Obama's fault?
I thought Obama was not President before January 2008.

From the link you posted:
The opinion written by Justice Antonin Scalia rapped EPA for not properly taking the costs of its regulation into effect early enough, and it raised questions on whether “ancillary,” or additional benefits not directly related to the rule, should be counted.
But Scalia’s majority opinion in Michigan v. EPA doesn’t address whether EPA has the authority to interpret a contradiction in the 1990 Clean Air Act amendments to launch a regulation that will alter how the country’s energy companies’ produce electricity.

Read more: Supreme Court's ruling comes too late for coal - POLITICO
 

Casper

Banned
DP Veteran
Joined
Dec 14, 2015
Messages
26,735
Reaction score
11,510
Location
Elsewhere
Gender
Undisclosed
Political Leaning
Independent
I see some people cannot discuss and actual issue these days with blaming everything on Obama. Let me ask this, if Trump or Cruz managed to get elected do you actually believe they would change a thing and that the company would be back to a booming business? Sadly some people may lose their jobs, but then again progress always has a tendency to do that, the smart ones will find a new line of work and do fine.
 

Northern Light

The Light of Truth
DP Veteran
Joined
Jan 7, 2013
Messages
6,972
Reaction score
4,324
Gender
Undisclosed
Political Leaning
Undisclosed
How can you not know about this?: Supreme Court's ruling comes too late for coal - POLITICO

Essentially, Obama had the EPA promulgate new regulations with no economic consideration whatsoever and it closed down more than a few coal plants. By the time SCOTUS ruled, it was too late, thousands of coal plant jobs were gone and many coal miner jobs as well.

Thanks I knew about that, but the article is talking about the global market, and not American domestic policy. Also, Peabody failed to diversify to natural gas as demand for it grew, and stuck to coal. Demand from China wasn't reaching expectations. There are many factors.
 

smb

Well-known member
Joined
Dec 9, 2011
Messages
949
Reaction score
273
Gender
Male
Political Leaning
Very Liberal
Obama called it. When he was coronated, he promised to "bring the coal industry to its knees."

The irony here is that all those stupid union coal workers will continue to vote 'democrat.'

Please provide a source for that quote. I find it nowhere. I believe it to just another false right wing talking point but if you can provide the quote...
 

Texmex

Banned
DP Veteran
Joined
Jul 10, 2011
Messages
5,189
Reaction score
1,932
Gender
Undisclosed
Political Leaning
Liberal
why would democrats care? they're all living off working americans tax dollars, collecting welfare and rioting when they don't get their way. something has to give, fortunately we have the guns, so when it gives it should at-least be quick.

Us liberals have guns also.
 

jmotivator

No longer monitoring
DP Veteran
Joined
Feb 24, 2013
Messages
27,304
Reaction score
13,586
Gender
Undisclosed
Political Leaning
Conservative
why would democrats care? they're all living off working americans tax dollars, collecting welfare and rioting when they don't get their way. something has to give, fortunately we have the guns, so when it gives it should at-least be quick.

A new definition of "trigger warning"
 

jmotivator

No longer monitoring
DP Veteran
Joined
Feb 24, 2013
Messages
27,304
Reaction score
13,586
Gender
Undisclosed
Political Leaning
Conservative
So the Clean Air Act was passed in 1990 but it's Obama's fault?
I thought Obama was not President before January 2008.

From the link you posted:


Read more: Supreme Court's ruling comes too late for coal - POLITICO

Obama changed the regulations of the Clean Air Act with through executive order. Those illegally imposed regulations are why the Coal companies are going out of business. So yeah, it is precisely Obama's fault.
 

chuckiechan

DP Veteran
Joined
Dec 2, 2015
Messages
16,568
Reaction score
7,251
Location
California Caliphate
Gender
Male
Political Leaning
Independent
California is whining about trying to find a way to stop coal from being shipped through the state to ports for transshipment to China. China loves cheap energy. It makes them more competitive against the USA.
 

Grand Mal

bas air son Eachin
DP Veteran
Joined
May 6, 2013
Messages
38,547
Reaction score
20,463
Gender
Undisclosed
Political Leaning
Liberal

Grand Mal

bas air son Eachin
DP Veteran
Joined
May 6, 2013
Messages
38,547
Reaction score
20,463
Gender
Undisclosed
Political Leaning
Liberal
The Western World's Largest Coal Company Declares Bankruptcy



Pretty big news in the energy sector. The article also sites declining demand from China and India as reasons, along with increase in natural gas use. Although those countries have reduced use, they're still using a lot of coal and creating new plants, which the article admits. However, I guess the reduction in demand was still enough to tip the scales for this company. There's no doubt that the market for coal is growing smaller as time goes on. There's also an obvious preference for natural gas, and the issue of fracking and environmental impact is being hotly debated lately.

So Mr. Peabody's coal train has stopped haulin' it away?
 

smb

Well-known member
Joined
Dec 9, 2011
Messages
949
Reaction score
273
Gender
Male
Political Leaning
Very Liberal
Obama changed the regulations of the Clean Air Act with through executive order. Those illegally imposed regulations are why the Coal companies are going out of business. So yeah, it is precisely Obama's fault.

What specific regulations did the President change and when? How are those regulations responsible for Peabody going bankrupt?

All indications are that Peabody's bankruptcy is a result of bad business decisions coupled with the explosion of fracking.

Why Peabody Energy, the world's largest coal company, just went bankrupt - Vox

So please be specific. Arguing BS general talking points is ridiculous.
 

Fearandloathing

Just watchin'
DP Veteran
Joined
Jan 25, 2012
Messages
22,144
Reaction score
18,790
Location
Vancouver, Canada Dual citizen
Gender
Male
Political Leaning
Independent
I remember Obama saying energy prices would necessarily skyrocket too

That one statement should have raised a HUGE red flag for every voter in the Nation

Obama was more than willing to put his twisted ideology before the needs and concerns of the poor and middle class.



From the article:

"Nearly 200 countries committed last December in Paris to cut emissions of heat-trapping greenhouse gases. Burning coal for electricity emits twice the carbon dioxide of natural gas, and the resulting pollutants have been linked to thousands of premature deaths and asthma attacks annually in the United States alone.


I hate to have to tell you this, but coal has been dead for a lot longer than Obama has been president. Obama merely saw the way things were going and declared he was in charge.

The largest coal operation in North America was here in British Columbia, it was shut down in the 90's. America is just catching up that's all.
 

jmotivator

No longer monitoring
DP Veteran
Joined
Feb 24, 2013
Messages
27,304
Reaction score
13,586
Gender
Undisclosed
Political Leaning
Conservative
What specific regulations did the President change and when? How are those regulations responsible for Peabody going bankrupt?

All indications are that Peabody's bankruptcy is a result of bad business decisions coupled with the explosion of fracking.

Why Peabody Energy, the world's largest coal company, just went bankrupt - Vox

So please be specific. Arguing BS general talking points is ridiculous.



President Obama Announces Aggressive Rule for Reducing Greenhouse-Gas Emissions - The Atlantic

An aggressive restriction of Coal emissions and blocking new coal power plants killed current and future coal business.
 

smb

Well-known member
Joined
Dec 9, 2011
Messages
949
Reaction score
273
Gender
Male
Political Leaning
Very Liberal
Top Bottom