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In Confidential Deal, Coal Company Pays Back Taxes To Colorado County

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Peabody Energy paid nearly one point eight million dollars in overdue taxes this week to a rural county in western Colorado, resolving, for now, a serious funding concern for a tiny school district there. Communities all over the country count on revenue from fossil fuel extraction to pay for basics like schools and roads. But with the downturn in coal, oil and gas, that steady stream of energy dollars is no longer assured.

Alpha

Judge Approves Alpha’s Bankruptcy Plan

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A judge in Richmond, VA approved coal giant Alpha Natural Resources’ plan to get out of bankruptcy. The approval went through, in part, because Alpha agreed to put up real financial assurances to cover future reclamation costs, which totaled hundreds of millions of dollars.

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Surviving The Oil Bust In West Texas

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In every downturn, there are survivors who position themselves for recovery. The price of crude oil is down by more than 70 percent since the summer of 2014. Oil and gas companies once flush with cash have cut exploration and decommissioned up to two thirds of their rigs. Many companies have gone under and hundreds of thousands of people are out of job.