He Said That? 4/14/16

The miner shouldn’t be allowed to “walk away from the billions of dollars in damages to landscapes, wildlife, and crucial water supplies that are part of coal’s legacy.”

The Wall Street Journal, “Coal Crash Sinks Mine Giant,” 4/14/16

STRAIGHT LINE LOGIC

Peabody Coal filed for Chapter 11 bankruptcy protection yesterday. Among other obligations, Peabody estimates its has future environmental clean up costs at $723 million, which, as The Wall Street Journal noted, is “a concern for environmental activists. From Theo Spencer of the Natural Resources Defense Council:

The miner shouldn’t be allowed to “walk away from the billions of dollars in damages to landscapes, wildlife, and crucial water supplies that are part of coal’s legacy.”

The Wall Street Journal, “Coal Crash Sinks Mine Giant,” 4/14/16

Here’s a stark notice for Mr. Spencer: THERE IS NO MONEY! In 2011, Peabody, according to the stock market, was worth $20 billion. It is now worth $38 million, or about one-twentieth of what the company thinks it will cost to clean up the environment that Mr. Spencer wants cleaned up. Take a number, Mr. Spencer, and stand in line with Peabody’s other unsecured creditors: employees…

View original post 108 more words

Author: Lisa the Infidel

I am an #Infidel - born and bred North Carolina.

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