Recession resistant coal industry cuts back

[DogPoundPup]

Source: Ledger-Enquirer

CHARLESTON, W.Va. --
The ailing economy has left a big question mark hanging over the U.S. coal industry: will last year's high-priced contracts and today's declining costs be enough to offset rapidly falling world demand this year?

Already, mine operators have scaled back production plans for 2009, namely coking coal used for steelmill blast furnaces as manufacturing grounds to a halt.

Peabody Energy Corp., one of the world's largest coal miners, said this week it was cutting its production in Wyoming and Australia because of the economic downturn.

Investors have pulled billions out of the market and coal companies have not been immune.

Read more: http://www.ledger-enquirer.com/251/story/571763.html

[Fearless]

1. Here clean coal technology. Here boy!

:shrug:

:rofl:

[Desperadoe]

2. Peabody Energy Co,

Paradise, John Prine


When I was a child my family would travel
Down to Western Kentucky where my parents were born
And there's a backwards old town that's often remembered
So many times that my memories are worn.




Chorus:
And daddy won't you take me back to Muhlenberg County
Down by the Green River where Paradise lay
Well, I'm sorry my son, but you're too late in asking
Mister Peabody's coal train has hauled it away

Well, sometimes we'd travel right down the Green River
To the abandoned old prison down by Adrie Hill
Where the air smelled like snakes and we'd shoot with our pistols
But empty pop bottles was all we would kill.

Repeat Chorus:

Then the coal company came with the world's largest shovel
And they tortured the timber and stripped all the land
Well, they dug for their coal till the land was forsaken
Then they wrote it all down as the progress of man.

Repeat Chorus:

When I die let my ashes float down the Green River
Let my soul roll on up to the Rochester dam
I'll be halfway to Heaven with Paradise waitin'
Just five miles away from wherever I am.

Repeat Chorus:

[Thothmes]

3. Wonder how many American make a living

mining coal.