Fourth Major U.S. Coal Company Files for Bankruptcy Amidst Continuing Industry Decline

Westmoreland Coal Co., one of the oldest coal mining companies in the U.S. has filed for bankruptcy. The filing represents the fourth major U.S. coal company to file for Chapter 11 bankruptcy in three years due to continual decline in demand for coal throughout the U.S. as well as overseas.  Despite efforts by government agencies and President Trump’s more favorable outlook towards the coal industry, demand has continued to decline as more coal-fired electricity generating plants retire and as two of the biggest U.S. coal consumers, China and India, import less coal in efforts to reduce air pollution. The latest government forecasts expect coal-fired power plants to continue to retire and coal production, consumption, and exports to continue to decline.

 

Read more:

https://www.washingtonpost.com/business/one-of-oldest-us-coal-companies-files-for-bankruptcy/2018/10/09/ec8d00e6-cbf2-11e8-ad0a-0e01efba3cc1_story.html?noredirect=on&utm_term=.c476f5e5d82f

https://www.bloomberg.com/news/articles/2018-08-21/trump-promised-to-bring-back-coal-it-s-declining-again

https://thinkprogress.org/latest-government-statistics-show-coal-industry-on-steady-decline-under-trumps-leadership-188e724520e6/

http://theweek.com/articles/795716/withering-american-coal-industry

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