Too Late for Canaries: Coal Companies File for Bankruptcy Protection

Posted by Ed Burke on Jan 9, 2020 11:49:57 AM

coal

The United States' largest privately owned coal company filed for Chapter 11 Bankruptcy protection in late October. Murray Energy joins at least 7 other major companies as casualties in the move toward cleaner and more sustainable energy.

2018 saw the lowest demand level for coal since 1978, so the bankruptcy filings are not very surprising - it is becoming more a matter of when companies either change focus to add in non-coal sources, or slowly dwindle on earnings. The major looming question will be how workers and other supply chain members are compensated for wages, contracts, etc as this sector of the industry reorganizes.

I wrote an article for Oil & Energy Magazine that goes into a little more detail on the subject and potential outcomes going forward. You can read that article in its' entirety here: Coal Companies Seek Bankruptcy Protection 

Topics: coal, renewable energy, Clean Energy

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