Major US coal company files for bankruptcy, putting over 1,000 jobs at risk

[left-of-center2012]

Source: The Hill

A major U.S. coal company filed for bankruptcy Monday, putting more than 1,000 jobs across three states at risk.

West Virginia-based Revelation Energy LLC and its affiliate Blackjewel LLC filed for bankruptcy, making it the second major coal company to declare bankruptcy in as many weeks, according to the Lexington Herald Leader.

The bankruptcy impacts the employees who are working at coal mines located in Kentucky, Virginia and West Virginia. Hundreds of workers at two coal mines in Wyoming were also reportedly impacted by the bankruptcy.

The bankruptcy and risk of ensuing job losses underscores the dwindling number of jobs in the industry since 2012 as a result of a sharp decline in coal production.

Workers at mines near Cumberland, Ky., were reportedly told Monday to not come to the mines for their evening shifts ...

Blackjewel and Revelation reportedly owe tens of millions in state and federal taxes, forcing the company to file for bankruptcy.

Read more: https://thehill.com/policy/energy-environment/451373-major-us-coal-company-files-for-bankruptcy-putting-over-1100-jobs

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Trump campaign promise: "We're bringing coal back!"

[IronLionZion]

1. Whenever Trumpster divers claim they're bringing back tons of new coal jobs

I always ask them if they're investing in coal stocks. They never do.

[genxlib]

2. I am sure this will somehow be Obama's fault

What the hell. Just blame me. If we never take another single lump of coal out of the ground, I will be happy.

I do, however, support substantial investments in these communities for retraining and transition.

[Traildogbob]

3. Well

Wonder if the out of work miners like socialism? You know, like unemployment money, food stamps, health care. Money for the 4th of July Korean parade, flying the trump spawn around the world, or trumps golf outings alone would finance those miners for years plus retrain them. MAGA. Great Cleeeen coal, trumps digs it.

[VMA131Marine]

4. Trump will just declare an emergency and bail these companies out with taxpayer money

That's what he did with the midwestern soybean farmers

[Grins]

5. What? After "He" made a coal lobbyist head of the EPA?

"Blackjewel and Revelation reportedly owe tens of millions in state and federal taxes, forcing the company to file for bankruptcy."

So...not just the failure of "His" promises, the declining demand for coal, and the increasing demand for natural gas and renewable energy, but taxes... They are also tax cheats.

[Wellstone ruled]

6. Add to this,

the State of Wyoming is in mega Financial trouble as a result of these State Royalties not being paid . Like many Western States that are under Conservative Control,their focus was and is on Revenue from Extractions. And Wyoming is in deep doo doo.

And to top of this,they are losing all their Brain Talent to other states. When your States Economy is based on Digging Coal and Chasing Cows,well,that ain't looking very good.

[LogicFirst]

7. Another promise not kept.

How many promises has Trump broken?

[keithbvadu2]

8. Vote for Trump, coal workers. You can trust him to bring your jobs back. You have his word of hon

Vote for Trump, coal workers.

You can trust him to bring your jobs back.

You have his word of honor.

[NickB79]

9. Hillary Clinton had a plan to deal with out-of-work coal miners

It involved millions in funding to help them retrain and re-enter the work force with good-paying jobs.

But I hear food stamps and Fentanyl in the trailer park are just as good.

[paleotn]

10. na na na na....na na na na....hey hey hey... good bye

Sorry, no sympathy for racists assholes and morons. F them!

[Yeehah]

11. It's big coal's business model

They form companies designed to go bankrupt and eliminate promises to miners.

This would not be allowed to happen in a rational government, but our government is designed to serve the rich.

[blue-wave]

12. Well, well, well

looks like the results from the last presidential election are working out well for West Virginia.

[JohnnyRingo]

13. Ripple effect could impact the local buggy whip factory.

...since miners will no longer have to harness the team and ride to work.