Salon is a liberal rag of a website but every once in a while they
get it right. Below is a brief excerpt of the chaos and mayhem Obama’s
anti-coal policies has caused.
The destruction of the American blue collar worker = ‘fundamental transformation’ complete.
http://www.salon.com/2015/08/27/the_collapse_of_big_coal_why_appalachia_may_never_fully_recover_partner/
In the first half of this year, at least six domestic coal companies
filed for bankruptcy. In February, West Virginia’s Covington Coal fell,
followed by Xinergy and Grass Creek Coal in April, Patriot and
Birmingham Coal & Coke in May, and A&M Coal in June. In August
came the biggest announcement of all: the $10-billion coal giant Alpha
Natural Resources had entered the bankruptcy sweepstakes, too.
Only four years earlier, Alpha had secured its position as one of the
world’s largest coal outfits by purchasing the Appalachian company
Massey Energy for $7 billion and expanding its operations to 60 mines,
many in Appalachia. But its reign would prove short-lived. The price of
coal has been plummeting as utility companies shift to significantly
cheaper shale gas, extracted through the drilling process known as
hydraulic fracturing, or fracking, to produce power. This April, for the
first time since the U.S. Energy Information Administration began
collecting data in 1973, gas surpassed coal as the nation’s number one
producer of energy.
But someone has to profit as there are always winners and losers..
Obama drives down coal company stocks, and Soros buys them on the cheap
http://www.americanthinker.com/blog/2015/08/wow_obama_drives_down_coal_company_stocks_and_soros_buys_them_on_the_cheap.html
I
have always believed that global warming is a gigantic scam, driven by
greed and lust for power. Now comes the shocking news, via Steve Milloy
writing on Breitbart,
that following President Obama’s use of CO2 emissions as a weapon to
drive major coal companies near bankruptcy, the ultimate politically
connected speculator George Soros is buying up stock in major coal
producers on the cheap.
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