April 13, 2016

Clinton-Obama War On Coal Claims Another Victim

Exactly one month ago today, Hillary Clinton proudly claimed that she was “going to put a lot of coal miners and coal companies out of business.” While this was an extreme and callous example of Clinton’s campaign rhetoric, it fit in perfectly with the general tone of Clinton’s War on Coal. During the campaign, Clinton has proposed spending $30 billion to move coal communities away from the industry that has provided them a livelihood for generations:

“The plan, which is similar to proposals from Obama, is meant to help coal-dependent communities navigate the transition toward economies based on cleaner energy sources.”

Unfortunately, for many Americans, there will be one less coal company for Clinton to put out of business if she becomes president. Today Peabody Energy Corp, a leading coal company, filed for bankruptcy. Peabody is the largest private coal company in the world. Not even the biggest companies though can overcome the “tougher environmental policies,” that have become rampant during President Obama’s term:

“Founded in 1883 by 24-year-old Francis S. Peabody with $100, a wagon and two mules, the miner is now the largest private-sector coal company in the world. It joins at least four other coal companies that have sought bankruptcy during the slump — a result of tougher environmental policies, a flood of cheap natural gas and a global glut of metallurgical coal that’s dragged prices for steelmaking component to the lowest in more than 10 years.”