Biggest private coal producer in U.S. Warns of Huge Layoffs 

Murray Energy Corp., the largest coal producer, is facing an 80% layoff. That’s 4,400 jobs that you can lay at the feet of President Obama and the Environmental Protection Agency. And, if Hillary Clinton is elected President, there goes the other 20%. That is a Hillary promise, remember? Where will electricity come from? If there is any available, it will be a lot like Venezuela: Two hours a day, maybe. That is a fundamental change we can do without. Read more below.

 

As Written By John W. Miller and Tim Puko for WSJ:

Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices.

In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates “massive workforce reductions in September.”

The law requires a 60-day waiting period before large layoffs occur.

The American coal industry, especially in Appalachia, has languished as cheap natural gas replaces coal as fuel for power plants. World-wide demand for coal has also slumped, and new environmental regulations are making many coal mines unprofitable to operate.

The Central Appalachian coal price benchmark is $40 a ton, or half its level from five years ago. Almost all of the biggest coal producers in the U.S. have declared bankruptcy in the past 18 months, including Peabody Energy Corp., Arch Coal Inc. and Alpha Natural Resources Inc.

Robert Murray, the controlling owner of Murray, is a fierce opponent of ….

Full Story Here:

Murray Energy Warns of Huge Layoffs – WSJ

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  • Lillian DeLuise Kunz

    4,400 more jobs down the drain! Thanks again Obama!

  • Webb

    You make the call:
    4 cents a Kilowatt Hour for Coal…
    26 cents a Kilowatt Hour for Wind and Solar…
    Electricity produced by Coal is less Cost to The American Public Consumers…Obama and Hillary will continue destruction of jobs and the Coal Industry!
    #NeverEverHillary…

  • Mamacat104

    Obama and Hillary does NOT care about the American workers… they will drive more and more families into poverty … cant wait for the moron-in-chief to get out of office and we need to get behind Trump and be sure that Hillary does not get into office or this country is doomed… she will drive the final nail into the country’s coffin

  • eddyjames

    And to think, coal country voted for Obama and most likely Hillary. Can’t understand why that part of the country, so hard hit, but votes democrat. Idiots