Aug
04
U.S. Coal Giant Greets Obama Climate Rules With Bankruptcy
ByThe second-biggest U.S. coal producer filed for bankruptcy hours before the EPA was due to publish new rules
The Environmental Protection Agency today will release President Obama’s new rules for power producers, rules that are expected to reduce greenhouse gas emissions in the sector more than 30 percent by 2030.
As the White House puts its cards on the table, the second-largest U.S. coal producer is folding its current hand and reshuffling.
Alpha Natural Resources declared bankruptcy this morning to get out from under $3.3 billion in debt accumulated over the past several years. The specific timing of its filing—hours before the EPA publishes its rules—may be coincidental. That it has happened at all is not…
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