Friday, April 08, 2016 2:39:50 PM
Maybe investors are going to get a reality check.
They will learn that investing in fossil fuels is a big loser....
It may seem off topic, but it isn't.....
Next week Peabody Energy, the world’s largest publicly traded coal company, will come to the end of a 30-day grace period to repay its crushing debts or fall into bankruptcy.
The company’s share price has fallen by 98% since 2011.
Peabody missed two interest payments totaling $71m on its debt on 15 March. The company also laid off more than 250 workers at its Powder River Basin mine in Wyoming, billed as the biggest coalmine in the world.
Three other coal giants have declared bankruptcy within the last six months, Arch Coal, Patriot and Alpha Natural Resources. Alpha bought out Blankenship’s old firm nine months after the Big Branch Disaster.
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