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Mission bankruptcy underscores coal’s long-term decline

first_img FacebookTwitterLinkedInEmailPrint分享CBS News:A Tennessee coal mining company that filed for bankruptcy this week is the second coal company to go bankrupt during Donald Trump’s pro-coal presidency. It’s also the fifth U.S. coal industry bankruptcy in the last three years as competitors in the energy market continue to drive coal into the dust pile.Mission Coal, an operator of three mines in West Virginia and one in Alabama, filed for Chapter 11 bankruptcy protection on Sunday listing about $175 million in debt and just $55,000 cash on hand, according to court filings. This small company joins Colorado-based Westmoreland Coal, one of the country’s oldest coal companies, which filed for bankruptcy earlier this month, and Peabody Energy, Arch Coal and Alpha Natural Resources, which all have ended up in bankruptcy courts since 2015.Competition from other energy sources—super-cheap natural gas in particular—has been the main culprit. Obama-era “clean coal” regulations scuttled earlier this year by the Trump administration has played just a small role in the industry’s collapse, experts say.“Coal plants have been losing market share just on competitiveness alone, to natural gas, for quite some time–even before the EPA regulations came down that accelerated the shutdown of even more plants,” Greg Reed, director of the Center for Energy and the GRID Institute at the University of Pittsburgh, told CBS MoneyWatch recently.The total stock market value of the country’s four largest coal producers has plunged to $6.3 billion today from $33 billion in 2011. About 62,000 coal miners have lost their jobs during that time. Further job losses will come: More than a quarter of the U.S.’ current fleet of coal plants is projected to shut down over the next 12 years, according to one analysis.More: Mission Coal files for bankruptcy—5th coal company in 3 years Mission bankruptcy underscores coal’s long-term declinelast_img read more

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Bovine tuberculosis testing joint payment bill passes house

first_imgINDIANAPOLIS, Ind. — A bill authored by State Senator Jean Leising (R-Oldenburg) to change who pays for bovine tuberculosis testing passed the House of Representatives recently by a vote of 96-0.Senate Enrolled Act 294 would require county councils and the Indiana State Board of Animal Health to each pay 50 percent of expenses related to bovine tuberculosis testing when required.Indiana is considered a tuberculosis-free state under the U.S. Department of Agriculture rules.As a result of an occurrence of elk strain bovine tuberculosis in Franklin County, the USDA required the Board of Animal Health to conduct blood testing of all cattle in a 10-mile radius of the infected animal.Under current Indiana law, the county is required to pay for 100 percent of the costs of testing.There are five counties that were involved in recent testing ­­- Franklin, Fayette, Rush, Dearborn and Decatur.The original projected cost for Franklin County was $91,000, although the final cost is anticipated to be less.All tests completed have been negative.SEA 294 will now be considered by Governor Eric Holcomb.last_img read more

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