someoneyouknow
Literotica Guru
- Joined
- Jun 5, 2006
- Posts
- 28,274
Belle Ayr, a strip mine that sits in the northeast corner of Wyoming, was the very first strip mine to open in the West back in 1972, kicking off a shifting of the coal industry from the eastern U.S. to the Powder River Basin, which straddles Wyoming and Montana.
It closed on July 1—and could be shuttered permanently, a sign of the shifting fortunes of the coal market as much as the poor management that ran it into bankruptcy.
Belle Ayr and the adjacent Eagle Butte mine shuttered a few hours after its operator, Blackjewel LLC—the country's sixth-largest coal producer—abruptly filed for bankruptcy protection. It had about $250 million in debt and less than $100,000 in the bank—not enough to cover payroll.
The rest of the article talks about how renewables are coming to the fore and fracking gas has gotten so cheap coal can't compete. It also mentions those lost jobs aren't coming back and can't be replaced with anything in similar salary. On top of which, while the folks at the top of these companies got their big checks, the miners affected by these closures won't be able to cash their last checks and could possibly lose whatever retirement they may have.
How's that "I'll make coal great again" working out?
https://www.cbsnews.com/news/blackjewel-bankruptcy-the-first-coal-mine-to-open-in-wyoming-is-now-closed/
It closed on July 1—and could be shuttered permanently, a sign of the shifting fortunes of the coal market as much as the poor management that ran it into bankruptcy.
Belle Ayr and the adjacent Eagle Butte mine shuttered a few hours after its operator, Blackjewel LLC—the country's sixth-largest coal producer—abruptly filed for bankruptcy protection. It had about $250 million in debt and less than $100,000 in the bank—not enough to cover payroll.
The rest of the article talks about how renewables are coming to the fore and fracking gas has gotten so cheap coal can't compete. It also mentions those lost jobs aren't coming back and can't be replaced with anything in similar salary. On top of which, while the folks at the top of these companies got their big checks, the miners affected by these closures won't be able to cash their last checks and could possibly lose whatever retirement they may have.
How's that "I'll make coal great again" working out?
https://www.cbsnews.com/news/blackjewel-bankruptcy-the-first-coal-mine-to-open-in-wyoming-is-now-closed/