pwjohn
Gold Member
The coal industry is in turmoil. Demand for natural gas is surging, and coal has become a less-preferred fuel. That has spelt trouble for several coal miners.
Patriot Coal and Walter Energy have also filed for bankruptcy within the last two years.
In Alpha Natural's statement, CEO Kevin Crutchfield noted that more stringent government regulation has pushed electric utility companies away from coal.
"The change and challenges the U.S. coal industry has experienced over the last several years are greater than any in the past three decades," he said.
The company's stock was delisted from the New York Stock Exchange for being abnormally low
http://finance.yahoo.com/news/another-coal-giant-files-bankruptcy-130500639.html
Patriot Coal and Walter Energy have also filed for bankruptcy within the last two years.
In Alpha Natural's statement, CEO Kevin Crutchfield noted that more stringent government regulation has pushed electric utility companies away from coal.
"The change and challenges the U.S. coal industry has experienced over the last several years are greater than any in the past three decades," he said.
The company's stock was delisted from the New York Stock Exchange for being abnormally low
http://finance.yahoo.com/news/another-coal-giant-files-bankruptcy-130500639.html