Robert E. Murray, the U.S. coal baron who pressed the Trump administration to help save America’s struggling miners, placed his company into bankruptcy as demand for the fossil fuel continues to weaken.
The coal industry has been failing for decades--steadily since 1985--as demand for fossil fuels weakens. Natural gas and renewable energy sources are both better for the environment and far cheaper. Nevertheless, Candidate Trump promised to bring back coal mining jobs. He lied, of course, but that’s nothing new. You can’t say he didn’t try, though:
He disemboweled environmental protections, including:
Getting rid of the Clean Power Plan.
Getting rid of the Clean Water Act.
Pulling the United States out of the Paris Climate Accord.
Even rolling back provisions of the Endangered Species Act that were interfering with coal mining.
He killed mining safety regulations, resulting in a 100% increase in mining fatalities.
He ordered power grids to purchase electricity from failing coal plants at any price necessary to keep them from shutting down.
When the EPA reported that its replacement for the Clean Power Plan, the so-called “Affordable Clean Energy Rule,” would cause hundreds of premature deaths, he not only ignored it but also had his EPA ban scientific research so it couldn’t happen again.
One company that hoped to benefit from Trump’s approach was Murray Energy Holdings Co., the largest privately owned coal company in the United States. Its founder, coal baron Robert E. Murray, hated President Obama and his clean-air rules with a passion, calling Obama “the greatest enemy I’ve ever had in my life.” Murray pushed Trump to help save his industry, and in return provided strong financial support, including most recently a $1 million donation to a political action committee backing Trump’s agenda in the 2018 election.
All to no avail. Murray Energy, in debt to the tune of over $2.7 billion, has now joined Cloud Peak Energy Inc., Cambrian Coal Co., Blackjewel LLC, Blackhawk Mining LLC, Foresight Energy LP, and almost 100 affiliates in filing for bankruptcy this year.
