Another
bankruptcy filing by Patriot Coal
Patriot
Coal Corporation, America’s largest mountaintop-removal firm and 2nd-largest
mining firm east of the Mississippi, has filed for bankruptcy again (2nd
time in 3 years) and says it’ll sell all of its assets.
This
is the same company that had a Johns Hopkins doctor come up with test “results”
that showed dying coal miners didn’t have black lung. Their death certificates
proved otherwise.
Patriot, based in St. Louis, Missouri, till January when it moved
its headquarters officially to Scott Depot, West Virginia, is a 2007 spin-off
of Peabody Energy
which United Mine Workers officials said was a ploy to get out of paying union
miners their pensions and black lung coverage.Patriot had been exporting 25% of its coal to China and India, but China cracked down to force Chinese companies to use coal from China instead.
Patriot spends more than $2 million a year to lobby against greenhouse gas regulations and clean energy legislation. It has more than $2 billion a year in revenue, but profits have been falling rapidly.
It has eight mining complexes in Appalachia, mostly in West Virginia, including Big Mountain, Blue Creek, Kanawha Eagle and Guyan Mine in Logan County.
No comments:
Post a Comment