Summary:
Peabody Energy, the United State's largest coal company claims that because of a sharp decrease in coal prices and industry pressures, the company will be filing for bankruptcy. However, the company stated that it will continue to be running while in bankruptcy. All in all, the company lost $2 billion last year.
Analysis:
I wonder if this call of bankruptcy by Peabody Energy will have a large impact on the industries or not. The company managed to lose so much money the last few years because of new regulations regarding the emissions of greenhouse gasses put on by the Obama Administration, and I wonder if it will be able to bounce back, or become completely depleted. The company's debt is very large, however, their goal is to dramatically decrease it while in bankruptcy.
http://money.cnn.com/2016/04/13/news/companies/peabody-coal-bankruptcy/index.html
I think this should send a message to fossil fuel companies. That there dominance is over. That they can no longer be the most profitable and companies need to be forward thinking about energy
ReplyDeleteI think this should send a message to fossil fuel companies. That there dominance is over. That they can no longer be the most profitable and companies need to be forward thinking about energy
ReplyDelete