Archive for July, 2015

More News and Commentary

Investors Have Lost Their Shirts on Peabody; Now Taxpayers Are in the Line of Fire

Investors Have Lost Their Shirts on Peabody; Now Taxpayers Are in the Line of Fire

The Problems Created by a Global Coal Giant Have Become a Public Concern

The U.S. coal sector is in financial distress, a fact that’s been apparent for some time now and is made more evident with this week’s second-quarter earnings report from Peabody Energy. Peabody continues to tank for the main reasons many other major coal producers continue to tank: It made too many top-of-the-cycle, multibillion-dollar debt-funded acquisitions […]

July 30, 2015 Read More →

U.S. Officials Get an Earful on Federal Coal ‘Giveaway’

Christopher Coats for SNL: In addition to further listening sessions scheduled for Montana, Colorado, Wyoming and New Mexico, [Department of the Interior Secretary Sally] Jewell said the DOI would be accepting public comments through Sept. 17. Allowed three minutes to offer comments and policy suggestions, attendees weighed heavily in favor of program reform, motivated by […]

July 30, 2015 Read More →

TheHill.com: Why the Federal Coal Program Should Be Reformed

David J. Hayes on TheHill.com: No element of the federal government’s energy program is more outdated, more unfair to taxpayers, and more inconsistent with our nation’s energy and environmental goals than the Department of the Interior’s coal leasing policies. Forty percent of U.S. coal is mined on taxpayer-owned public lands, primarily in the Powder River […]

July 30, 2015 Read More →

‘Is Peabody Energy Finally Facing Oblivion?’

Keith Williams for Seeking Alpha: What wasn’t said: As seems to be the pattern for BTU earnings reporting, the elephant in the room (structural decline in the industry) was ignored. Other than a tentative question about the impact on prices by restructured companies re-entering the market, the reporting and questions stayed with the details of […]

July 30, 2015 Read More →

Obama Will Decide on Keystone Before He Leaves Office

From AFP: President Barack Obama plans to decide before leaving office whether to approve the controversial Keystone XL pipeline that would send Canadian crude oil to US refineries. Eric Schultz, a White House spokesman, said Wednesday that the issue will be resolved before January 2017. “That approval process is being handled on the merits,” he […]

July 30, 2015 Read More →

What the Pope and Walmart Have in Common

Rachel Cleetus via UCS on Renew Economy: What all these calls from renewable energy champions make clear is that there is so much more cost-effective, untapped renewable energy out there for the taking. We need policies that accelerate the clean energy transition. Those policies include: A price on carbon to level the playing field with […]

July 30, 2015 Read More →

Report: Germany Sets a New One-Day Record for Renewable Generation

Emily J. Gertz on Yahoo News (via TakePart.com): Germany’s transition from coal- and oil-fired power to carbon-free electricity hit a new milestone on July 25, when solar, wind, and other sources of renewable energy met 78 percent of the day’s energy demand. That beat the old record of 74 percent, made in May 2014, according […]

July 29, 2015 Read More →

Solar Approaches Parity in Three Biggest Markets

Giles Parkinson on Renew Economy: The U.S. is not the only market approaching wholesale price parity for solar. A recent report from Deutsche Bank indicated that India was about to reach the same level, an assessment reinforced by the local offshoot of Fitch Ratings. Deutsche believes that investment in large scale solar will outstrip that […]

July 29, 2015 Read More →

U.S. Corporate Behemoths Behind the U.S. Anti-Renewables Campaign

Gabe Eisner on the Huffington Post: Fossil fuel companies, such as Koch Industries and Peabody Energy, and electric utility companies, like American Electric Power and Duke Energy, have worked to delay the growth of clean energy competition. These companies want to continue selling as much coal, oil, and gas as possible. And, in their effort […]

July 29, 2015 Read More →

Execs See 30,000 Coal Jobs Losses in Australia Over Next 12 Months

Sue Lannin for ABC Online: The annual report by Newport Consulting found that 80 per cent of bosses surveyed planned to reduce staff and 78 per cent planned to cut capital spending over the next 12 months, almost double the percentage in last year’s report. The report said thousands of coal mining jobs hung in […]

July 29, 2015 Read More →