Inside Energy (https://insideenergy.org/tag/arch-coal/)
A changing climate may be bad PR for fossil fuels, but it could help their bottom line. Two major coal companies released earnings reports in late July stating how higher temperatures could mean more energy use, which could ease some coal stockpiles.
As coal companies go bankrupt there is growing concern and uncertainty over who will pay to clean up those mines. But Texas has been there before. In 2014, the state’s largest coal company filed for bankruptcy with over $1 billion in outstanding cleanup costs. Now, more than two years later, this case is held up an example of what works.
Frank Thompson was one of almost 500 miners laid off in Wyoming in a single day earlier this year. Now, he’s trying to figure out life after mining—how to provide for his son, and how to bounce back.
Peabody Coal, Arch Coal and Alpha Natural Resources all declared bankruptcy in the last year. When coal companies go broke, who pays to clean up the mines? Inside Energy’s Leigh Paterson explains.
As the state’s energy booms go bust, Wyoming is facing the colossal task of having to replace some of its main economic drivers. It’s either that or learn to live with less.
In the wake of mass layoffs at the country’s two biggest coal mines, miners and the State of Wyoming alike are wondering what’s next.
The country’s two largest coal mines are each laying off roughly 15 percent of their employees. Peabody Energy and Arch Coal both announced the layoffs Thursday morning. The cuts will affect roughly 235 workers at Peabody’s North Antelope Rochelle mine and 230 at Arch’s Black Thunder mine.
Recent court documents show that Arch Coal paid executives more than $8 million in bonuses just days before the company declared bankruptcy.
In January, the federal government notified the Wyoming Department of Environmental Quality that bankrupt coal company Arch Coal could be in violation of mining regulations. On Monday, DEQ responded to the notice, writing that it has already dealt with the alleged violation which relates to Arch Coal’s reclamation bonding.
