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WSJ: U.S. Coal Sector Faces Reckoning

first_imgFull article ($): U.S. Coal Sector Faces Reckoning What isn’t sustainable are the publicly traded coal powers built atop the recent China-driven commodity boom, and the corporate structures—headquarters, salaries, pensions—they maintained. FacebookTwitterLinkedInEmailPrint分享John W. Miller for the Wall Street Journal:Peabody Energy Corp. warned Wednesday that it could go bankrupt, signaling the end of an era for listed U.S. corporate coal companies, even as their mines continue to fuel a big chunk of the country’s power stations.A chapter 11 filing by St. Louis-based Peabody, the U.S.’s largest coal miner, would be the latest in a wave of bankruptcies to hit top American coal producers, including Arch Coal Inc., Alpha Natural Resources, Inc., Patriot Coal Corp. and Walter Energy, Inc.U.S. coal miners are wrestling with high debt levels, low energy prices, new environmental regulations, the decline of steel production, and the conversion of coal-fired power plants to use natural gas made abundant by shale drilling.The industry’s troubles come amid a larger political debate over the future of coal that has flared up in the presidential contest. Most Democrats, concerned about the effects of burning fossil fuels on the environment, advocate a switch to cleaner energy sources, while Republicans decry job losses in the coal sector that they predict would come from policies cutting carbon emissions. The industry’s setbacks have been especially damaging in the coal strongholds of Wyoming and Appalachia.To be sure, this isn’t the end for coal. Just under one- third of the U.S. grid is still powered by coal, and hundreds of mines are still profitable and operating.center_img WSJ: U.S. Coal Sector Faces Reckoninglast_img read more

Solskjaer targets more signings in search for fast start

first_imgBut a stunning slump in form saw the side finish sixth in the standings, 32 points behind champions Manchester City.Aware that his imbalanced squad needed a major overhaul, Solskjaer has already recruited midfielder Daniel James and fullback Aaron Wan-Bissaka, with the club strongly linked to England central defender Harry Maguire and Portuguese playmaker Bruno Fernandes.“We are working on one or two (signings). My objective here though is we have got to get ready for the games and the training sessions,” the Norwegian told reporters in Singapore on the eve of a pre-season friendly against Inter Milan.“We are working on putting a squad together which can compete, we have lots of ways which can play. The Premier League is a very competitive league. Our aim is to focus on ourselves, we have to be better and be our only focus. I am sure we will get closer to the top.”United have already seen midfielder Ander Herrera depart for Paris Saint-Germain and while question marks remain over the futures of Belgian striker Romelu Lukaku and the talismanic Paul Pogba, Solskjaer is continuing to prepare for the new season with the Frenchman central to his plans.“I am looking to get everyone to get their form back to when we first came in. It is not just about Pogba, it is about all of us as a team,” he said, adding that Lukaku was not fit to face the Italian side on Saturday.“Everyone has been spot on in pre-season in training and the games. I have been very encouraged.“The start of the season is important, I don’t think many of these players have had a pre-season like this in many years. In the first eight or 10 games, you don’t win anything but you can lose the chance to win anything.”United complete their pre-season programme with matches against Tottenham Hotspur, Kristiansund and AC Milan before opening their Premier League campaign at home to Chelsea on August 11.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Ole Gunnar Solskjaer enjoyed a stellar start after replacing Jose Mourinho in December, but then experienced a slump © AFP / Roslan RAHMANSINGAPORE, Singapore, Jul 19 – Manchester United manager Ole Gunnar Solskjaer said Friday the club is working on one or two more signings as he hopes to hit the ground running in the new campaign after stuttering badly towards the end of last season.Solskjaer enjoyed a stellar start after replacing Jose Mourinho in December, winning 10 and drawing two of his first 12 Premier League fixtures.last_img read more