COAL FADING TO BLACK

Guest column: Yes, actually, King Coal is dying

Leslie Glustrom, August 25, 2013 (Boulder Daily Camera)

“…‘King Coal’ isn't dead yet, but there is abundant reason to believe the U.S. coal industry is dying…[C]oal deposits that are being mined now are buried deeper and are more expensive to mine. Coal company profit margins are narrowing or even turning negative and the major U.S. coal companies are reporting billions of dollars of losses. The major U.S. coal companies have lost over 80 percent of their stock value since 2008 and are borrowing money at interest rates of 8-10 percent in order to pay off their staggering debts. Patriot Coal filed for bankruptcy in mid-2012 and other large U.S. coal companies have been put on bankruptcy watch…” click here for more

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