http://money.cnn.com/2016/04/13/news/companies/peabody-coal-bankruptcy
>Peabody Energy, the world's largest private-sector coal producer, filed for bankruptcy on Wednesday in a U.S. court, citing "unprecedented" industry pressures and a sharp decline in the price of coal. The company said it will continue to operate while in bankruptcy, while working to reduce debt and improve cash flow.
>"Peabody has a new management team, outstanding workforce, unmatched asset base and strong underlying operational performance that represent a key driver in the company's future success," CEO Glenn Kellow said in a statement announcing the Chapter 11 filing. In addition to plummeting coal prices, the company cited weakness in China's economy, overproduction of domestic shale gas and ongoing regulatory challenges as reasons for its declining prospects.
>Peabody reported a loss of $2 billion last year. Revenue tumbled 17% to $5.6 billion as the average price and amount of coal that it sold fell. It warned of further declines this year due to reduced use of coal by U.S. utilities, along with lower demand from overseas markets. The coal industry has faced a myriad of problems in recent years, including proposed regulation from the Obama administration to cut greenhouse gas emissions from the nation's coal-burning power plants. The industry refers to those regulations as Obama's "war on coal."
>While the new regulations have been put on hold by the Supreme Court, the industry has faced a number of other economic woes, including significantly lower prices for natural gas, which is a competing fuel used by electric utilities, and slowing economic growth in China, a major market for U.S. coal. Renewable sources of energy are also getting much cheaper, further squeezing demand.
>Arch Coal (ACI), which owns the second-largest U.S. coal reserves behind Peabody, filed for bankruptcy in January.
Good riddance. NG can join them once people wake up to nuclear.
>>70877912
You are an idiot.
First of all there is nothing wrong with coal and secondly a bankruptcy does not mean they are out of business.
>>70878050
>First of all there is nothing wrong with coal
There's plenty wrong with coal. It's just that the alternatives all have downsides too.
>>70878050
>nothing wrong with coal.
Come on senpai.
>coal
>fear mongering of global warming and emissions and perpetual destruction of the planet
>nuclear
>fear mongering of random accident and many generations of irradiated areas and waterways
Is there a middle ground?
>>70878129
>>70878310
Explain what is wrong with coal.
>>70877912
Burn coal pay toll
>>70877912
Burn the coal, pay the toll
Say it with me
Thanks Obama
Is this just class warfare or what?
>>70877912
Obama did this.
Seriously though, his green energy bullshit taxed coal into oblivion
Serves them right for being degenerate coalburners.
>>70877912
meanwhile in the rest of the world.....
>>70878686
>large source of radioactive material in the atmosphere
>CO2 emissions
>unsustainable
>"economical" coal in many places now involves strip mines and mountain removal
>high degree of conventional pollution even with environmental standards
>impedes economic diversification in areas where it is abundant, such as N. England and West Virginia
etc
>>70878944
damn dutch disease
>>70878944
So giving it to third worlders to burn in even less proper plants is better?
>>70877912
Nuclear reactors are 1920's technology with a slight edge.
We need something better.
>>70879172
We just don't give a fuck about your eco friendly bullshit
>>70878050
Coal is a shit-tier energy source who's only redeeming quality was how dirt cheap it was, and it can't even say that anymore thanks to natural gas. Forget the associated air pollution and carbon emissions for a second and just look up coal fly ash pond spills in the news.
http://www.powermag.com/a-brief-history-of-u-s-coal-ash-since-the-kingston-spill/
Then there is the history of labor abuses, notably Black Lung which is a still a thing now, and of course the accidents/explosions.
http://www.nytimes.com/2016/04/07/us/donald-blankenship-sentenced-to-a-year-in-prison-in-mine-safety-case.html
It's only a short walk from Ch.11 Restructuring to Ch.7 Liquidation.
>>70878944
I was honestly taken aback that coal states went for bernie in the dem primaries.
Bernie fucking hates fossil fuels like the cuck he is. I figured at least some of those democrats had to work for a fossil fuel company but apparently not. They must all work retail or something.
Solar panels and all that garbage will come no where near the worlds energy needs anytime soon.
If you are all in favor of solar you literally have to have your job on the line if you don't get those sweet subsidies.
>>70879835
If you look at the cost curve for photovoltaic solar panels/cells it resembles something close to pricing history of PCs from the late 80s to the early 00s. They will eventually get there.
We should have been building more of these though.
>>70877912
>current year
>using coal
The horse drawn carriage industry has taken quite a hit aswell.
Does this mean I have to take my Friends of Coal sticker off the back of my car?
>>70877912
>lost 2 billion
>still making over 5 billion
How will they ever survive.
>>70879235
>1920s
Wat?
Death to king coal. At least natural gas is a bit cleaner .
>>70880845
>Revenues
>Money they make
never comment on business topics again
>>70877912
Well, we're converting coal-fire plants to compressed wood pellet plants. We don't even use coal in our province any more at all.
It's cleaner and more efficient. Coal is slowly dying. Get the fuck out of that industry while you still can.
>>70880261
>We should have been building more of these though.
except the PCs of the late 80s were nothing like the PCs of today.
solar panels we use now are not economical at all.They are shit
>>70878574
Yeah hippy wind/solar power that will not be viable on a world scale ever.
>>70879235
You're an idiot. Nuclear Reactors have grown vastly with the times. There's new platforms and cores being made every year which are cheaper, safer, lest wasteful, more powerful, and more efficient
>>70881177
For clean energy, hydroelectric is probably the best. Problem with that is though, you don't always have the right types of rivers, and you have to flood huge masses of land.
Wind could be viable, but you would have to create absolutely massive fields of turbines, tens of thousands of square kilometers. Then you'd need a way to store the energy, probably huge fields of capacitors.
>>70881298
This. Modern Nuclear plants have dozens of safety systems implemented. Hydroelectric is more dangerous.
>>70878050
>nothing wrong with coal
>>70877912
obama and ecosocialism kill more jobs and raise energy prices, encouraging other businesses to leave and forcing poor and old people to reduce their heating in winter
thaaaaanks obama
and stupid liebereals hail it as some kind of victory, whilst pretending that they care about their own people, especially the old and poor
>>70879657
You don't know a fucking thing about coal. Besides the fact that it is the most readily available and cheapest power source in the US, we also have a shit load of it compared to anybody else, so kneecapping our coal industry simultaneously removes one of our biggest advantages over other nations, our abundant power generation capabilities.
Black lung is not a thing anymore, idk where you read that drivel, and underground mining is just as safe as almost any other industry that uses heavy equipment.
Beyond all that, the only reason that thermal coal is in the shitter is because of the fucking nigger we have in the White House and his unconstitutional power grabbing. Don't worry, he'll be coming for fracking too.
Also, Peabody got what was coming to it for not investing more in met coal operations.
>>70882230
Where are you from, West Virginia?
>>70881004
Money isn't money unless it's money, then it's money but not to be con fused with money because that's money, not money.
>>70877912
All those poor coal burners out of a job now
>>70882392
PA. I work in mining (not coal).
>>70877912
Nuclear Fusion > Nuclear Fission > Coal
>>70878574
Fusion is the best but we haven't figured it out yet. Those hydrogen atoms just don't want to get cozy.
>>70882578
The thing with coal is it's not renewable like wood pellets. You watch, it won't be long until coal fire plants down there start being converted. Then coal miners can become lumberjacks instead.
>>70882411
Seriously... this guy: >>70881004 is right.
Don't ever comment on business or finance again.
>>70882888
With oil and gas discoveries way deeper than the fossil record for even bacteria... many geologists are wondering if once presumed "fossil" fuels are actually in many cases a natural byproduct of the earth's core. While there are still obviously carbon based fuels at are indeed fossil... the new evidence is interesting to say the least.
>>70879835
Well all Hillary has to offer them is "you should use wind power lol"
Bernie's an envirocuck but he's also got the whole pro-blue collar/union thing going while everyone knows Clinton is full of shit
>>70882981
Did it ruin your circlejerk?
>>70878847
This doesn't show the smaller countries that are making coal plants too, like those countries in Central America.
>>70877912
throw money at NUCLEAR research
>>70882888
Oh, I know it's not renewable. But the US alone has 259 Billion short tons of reserves. That's fucking immense, it's twice what Europe as a continent has. I'm all for clean energy, nuclear, hydro, and geothermal, but it's fucking dumb to cut out coal now. Once we can establish a baseline with the 3 renewables I listed, sure, fuck using coal for electricity. But natural gas is just as bad in terms of environmental impact due to pipeline leaks, and the hippies get behind that just fine. The war on coal is just posturing.
Oh, and we'll still need met coal. Coal will be used in metal production for the foreseeable future.
>>70881362
>Problem with that is though, you don't always have the right types of rivers, and you have to flood huge masses of land.
Aka a literal, geographical and physical hard cap on the potential power production.
Still, coal is shitty and the worst fuel imaginable - excluding non-western hydroelectrical generation (aka the chinese dam disaster), coal is per Terawatt-hour the most deadly energy source of them all!
And why?
Not because muh greenhouse gasses, but because coal isn't just purely combustible elements - the level of radionuclides in coal are astronomic, to the level that while Nuclear only kills a few through industrial accidents on the uranium supply side, in the mines, tens of thousands die every year due to smog and to coal exhaust radionuclide pollution.
>>70877912
Welp, there goes what's left of the economy in Appalachia. Stand by for leftist snark laughing at suffering, starving, poor white people and blaming them for their privilege in 3... 2... 1...
>>70884022
The world won't die if you switch away from coal - nuclear, gas, even oil is better, and it can be done, much better for both health and energy production efficiency when sequestration and scrubbing technologies are applied
>>70882848
>Fusion is the best but we haven't figured it out yet.
>we haven't figured it out yet
>>70884044
>starving
>>70884022
>>70884144
All of the rivers that 1st world countries could harness for hydro power have already had damns built. The only reason that a river would not be harnessed in the US, UK, Canada, or the rest of West/North Europe is if environmental regulations preclude it, if the river is too far from population centers to be useful, or if or the river is too small.
I agree, scrubbers and sequestration do help. Too bad money that could be spent doing more research on those is being thrown at solar companies who flush it down the drain.
>>70884431
Dam. Shit.
>>70884144
>>70884022
What you really should be worried about anyway isn't peak oil, it's peak iron.
Across the world, our straight to smelting iron resources have been obliterated, while more energy costly ores, requiring blast and arc furnaces, are being rapidly exploited.
The world over, the total iron resources may look essentially infinite, but this does not take into account how much energy is required to extract them - just as with oil, it takes more energy and a greater cost to extract them, only becoming economic when the cost of energy has decreased or the price has raised, but opposed to oil, vast quantities of assumed iron reserves lay below an energy cost line that even in a perfectly energy abundant world, we will never see energy costs fall below!
We WILL face peak iron in our lifetimes, and more than oil, it will affect everything. From agriculture to basic industrial production, everything will be affected by the squeeze on iron
>>70882848
>Those hydrogen atoms just don't want to get cozy.
That's not the problem. Keeping the fusion going at a low level so we can get energy out without crushing gravitational force is. We have to use magnetic fields to crush the plasma down with enough pressure but keeping them up and stable currently requires as much energy as we get out of the reaction.
Fission is a billion times more viable and probably always will be.
>>70878686
Well for starters it fucks over the workers in the long term who have to dig it.
>>70884431
Exactly my point. In the UK, the geography already precludes the possibility of any meaningful hydroelectric generation!
Problem with scrubbers and sequestration however, is that they come with the implicit consequence of reducing efficiency and raising the cost of produced energy extraordinarily, and the end result exhaust is still incredibly deleterious to health, never minding environment damage. This is because many elements to the exhaust, such as the radionuclides, can not be extracted without useless expenditures of energy, or at all, while the current scrubbers operate on simple applications of chemical engineering which don't have the ability to reach the lengths that'd be required to put coal on par with oil, gas or other, even solar.
>>70882230
>Fracking
I don't know about you anon, but I like my water to not be flammable.
>>70884600
Bollocks old chap.
I live in Northern MN (which is literally cald the Iron Range), and we have enough iron here to supply the world for a thousand years.
>>70885092
Please, continue to enlighten us with your superb understanding of the long-term effects of modern coal mining on worker health.
>>70885204
Oil is too expensive to run a baseline with, the US doesn't have more than a few decades of gas, and solar can't produce a baseline either. Wouldn't it be reasonable to continue with coal until we've switched to nuclear?
>or the more pragmatic scenario, useless fucking wind turbines and solar panels
>>70877912
One example where you can literally say Thanks Obama.
He singlehandedly drove coal out of business in America. Understandably, coal plants of the past were not scrubbed, so the emissions went down wind, bonded with H2O and rained down as sulfuric acid bringing a lot of problems with it. However, companies that survived the lawsuits upgraded their plants to clean burners while the plants who couldn't perform these changes were shut down via regulation.
All was well and emission + H2SO4 dropped off a cliff. This was not good enough for Obama, so he went for the jugular. Now we ship most of our coal oversees to China where it is burnt is prehistoric coal plants that pollute to no end.
>>70877912
>RIP coal
this had everything to do with economics, no need to get butthurt.
Fracking changed everything, natural gas will be dirt cheap for decades in North America
>>70885391
So write to your Senator.
>>70886209
Coal would still be cheaper if not for the illegal EPA.
>>70886362
>>70885869
I just did a graduate level paper on this, the clean power plan got shut down. There was some pressure from state governments but it was mostly the free(ish) market responding to the drop in natty gas from the fracking glut
Natural gas priced in terms of energy is now cheaper than coal as of February this year at around $1.90 per Million BTU
No need to be ideologically attached to coal just because mouth breathing leftists hate it, from now on Natural gas is a cheaper, better source of energy and the market will do what its supposed to, switch to it
>>70886821
Natural gas plants also generally have lower capital costs per MW so
>N.G. lower capital cost + N.G. lower fuel cost = coal BTFO
pic related, its the devastating damage CO2 has done to our planet. The green is where plants are growing faster now...
>>70886821
I understand that. My point was that coal would be cheaper to use than natural gas if the regulations on mining it were not as stringent.
Just wait until Hillary's EPA gets its claws into fracking, then we can accurately compare the two.
burn the coal pay the toll
>be Sailorfag, Engineer
>haul coal and iron ore on Great Lakes and Eastern seaboard
>made bank last 5 yrs
>my ship is layed up this season
>ytd earnings =$0
>inb4 muh global warming
I don't give a fuck. I feed 35 metric tons of bunker fuel through the engine everyday. It's liquid coal.
>>70877912
Nuclear is dangerous you fool.
>>70888736
It's 2016.
There is no way a nuclear plant built using today's technology could become another chernobyl.
>>70888736
T. Liberal
>>70883322
Revenue is revenue.
If you rake in 5 million, but you lost 2 million overall, that means you spent 2 million more than you took in.
wow money is magic
>>70883234
I remember reading this way back in 2004 or 2005. Researchers from Texas university noted some of the Gulf oil wells were replenishing. This itself was back in the 1980's.
>>70877912
>World's Largest Coal Company Files Bankruptcy
I thought there is already thread about USA economy going to shit
>>70884281
The people in Appalachia are probably the one group of people in the country that are at risk for actual starvation.
>>70878739
>>70878764
This.
>private sector
>less than 9,000 employees
>less than $1B revenue/loss
Small time. China and India have the huge coal plants. For comparison, exxonmobil made $16B last year and has 75,000 employees
Although there is a risk of debts unwinding it's probably small. Would need multiple failures like this in a short span of time.
>>70889957
Only cities are truly fucked of starving like anywhere else during a natural or economic disaster. We got by just fine for a month with no power in 2012 when the Derecho went through. The heat was fucking awful though.
>>70889957
Are the girls there fat hogs as they say? We need hot, dumb, poor, willing to fuck foreigners (inc non-whites), how common is that combination down there?
I'm driving from here (Toronto) to my uncle's house in Mexico again this summer, friends and I stuck to the East coast last time, wondering if we should swing through there this time
>>70889957
>tfw you live in Appalachia
>>70890730
Fuck off, we're full.
Holy crapppp
I actually wrote my thesis on potential economic collapse in the future and what would trigger it.
One of the things I wrote about was that major energy companies would start to declare bankruptcy.
Get ready, folks, it's going to be a bumpy ride.
>>70890730
They are notoriously xenophobic. They may be accepting of a canadian, but only if you portray yourself in a non-threatening way to them. If you come across as arrogant or that you think you are better than them (i.e. thinking their girls are fat hogs) they will take you out into the woods where no one can hear you scream, and you'll be lucky if you can walk away from it. They don't believe in relying on the law, either. They like to take matters into their own hands.
..
The reason why:
http://www.breitbart.com/big-government/2015/08/13/obamas-great-coal-train-robbery/
http://www.breitbart.com/big-government/2015/08/17/the-new-king-coal-george-soros/
>>70890521
>>70890521
I'm this guy
>>70888587
There will not be a stoppage of "minimal" coal transport/production. There are far more coal power plants than most people think. Unless SHTF, the guberment will keep the lights on. What are they gonna do? Build nuke plants overnight... I smell debt evasion, Jewry, and a government bailout as this is an "essential" service atm. >>70890521
I'm this guy
>>70888587
There will not be a stoppage of "minimal" coal transport/production. There are far more coal power plants than most people think. Unless SHTF, the guberment will keep the lights on. What are they gonna do? Build nuke plants overnight... I smell debt evasion, Jewry, and a government bailout as this is an "essential" service atm.
>wood heat and 50 acres to cut FTW.
>>70890414
The problem with Peabody going under is that when a US coal operation files to open they have to up bonds so that the land can be reclaimed when they're done mining coal.
Because Peabody was thought to be a stable company, they were allowed to self-bond, which means they pretty much didn't have to actually put their money into bonds, they could just promise to clean up their mines at a later date.
Because Peabody is going under, there is no money to clean up the mines that they leave behind. This is a problem, because mine reclamation is very expensive. It's not like shutting down an old oil well by filling it with concrete. You have to regrade the land to its original contours, replace the topsoil horizon by horizon, and reseed the land. This costs hundreds of millions of dollars.
Not that any of this will actually end up significantly hurting tax-payers though. Peabody's good mines will be sold to competitors, mediocre mines will be temporarily closed in the hope that thermal coal comes back, and only the shitty mines will actually be shut down and reclaimed. IDK what their assets are like off the top of my head, but it's not like every Peabody mine will be reclaimed at the expense of the taxpayer.
>>70890895
This.
NH here, fuck off Leafaggots. I own feral pigs, and I won't hesitate to feed your shitskin ass to them alive and screaming.
>>70890895
>notoriously xenophobic
How dare you you bigot. We are a tolerant and progressive bunch of people, accepting of displaced and impoverished migrants.
>>70891390
As livestock feed.
>>70891325
If you... own them...
...then they're not feral
>>70877912
I've been investing since I was 18 years old. I'm a 56 year old man on a Wednesday morning. I work on Wall St, maybe you've heard of it? I have a portfolio that is 8 cubits long when you write it all out, and I've got so many zeros in my bank accounts (yes, that's plural) that I've lost track. Money is literally nothing to me. That's wealth, my friends.
Why am I not working, you ask? well kid, when you get this rich sometimes the work works for you. Get it? Probably not, but whatever.
Anyway here's the deal. Shit's going down. All the financials. All the non-profits. They're all going down and most are going to be bankrupt. It's time to listen to me. I've worked with the most advanced algorithms known to man. They were designed in a joint partnership between my firm and IBM. They run all day, everyday, on computers more powerful than those that can play chess. Trust me, this isn't child's play.
So, you're probably looking up at the screen with tears in your eyes, aren't you, kid? You probably want to know what you can do to prepare yourself. Well, listen up, kiddo. Buy Chinese gold and bury it. Buy rare earth metals and stuff them under your mattress. Invest in mobile apps and withdraw as much money from your banking accounts as you possibly can. In the New World cash will rule everything around you. You're gonna need envelopes. Buy water. A lot of water. Store it in drums and distill it. Food will not be a concern but water definitely will be, and you need to prepare accordingly.
So, why tell you all this? Why take a break from my busy day to share this knowledge with anonymous posters on an anonymous image board? Well, I just care. I lay awake thinking of each one of you and the pain that is about to befall you. If I can convince even one of you to prepare for the madness that is to come, I'll sleep easier. Don't do it for yourselves then, do it for me. Trust me. You don't want to get caught with your pants down on this one, kid.
>>70891489
>giving away our secret ingredient for proper veal
DELETE THIS.
>>70878129
>>70878310
>>70879657
>>70881532
COAL DID NOTHING WRONG
>>70891545
They're NOT domesticated.
They've been conditioned to eat meat. Sometimes they'll cannibalize each other.
>>70891888
So then... you did domesticate them... just as carnivorous semicannibals.
>>70892043
Copy/Paste time.
1 domesticate play
verb do·mes·ti·cate \də-ˈmes-ti-ˌkāt\
Popularity: Bottom 40% of words
Simple Definition of domesticate
: to breed or train (an animal) to need and accept the care of human beings : to tame (an animal)
: to grow (a plant) for human use
: to train (someone) to behave in an appropriate way at home (such as by using good manners, being polite, being helpful, etc.)
>>70892163
sounds like yours are tamed to eat meat.
>>70891545
>If you... own them...
>...then they're not feral
Feral means it's not domesticated. It's not kept in pens, fed with feed, and other things you'd equate with domestication.
You can still own them if they're in your land. Anything in your land is yours, including roaming feral pigs.
So he could throw someone to those hungry, feral pigs and it would be like something from those Hannibal Lecter movies.
>>70892250
Know what?
I'll take it.
I tamed a means of corpse disposal.
>>70891172
>there is no money to clean up the mines that they leave behind. This is a problem,
Why not just fuck off and leave them as they are, fuck cleaning up.
>>70890895
Sounds nasty, will definitely avoid
>>70893123
>Why not just fuck off and leave them as they are, fuck cleaning up.
Then the equipment and tailings waste storage starts to break down, leading to massive ecological disasters that destroy entire ecosystems, contaminate water sources for hundreds of square miles, and cost billions of dollars to clean up.
