St. Louis-based Patriot Coal Corp. filed for bankruptcy earlier this year — citing, among other factors, “challenging environmental regulations affecting the cost of producing and using coal, and weaker international and domestic economies.” This announcement came on the heels of the Obama administration’s proposed carbon dioxide rules for power plants, which essentially banned the use of coal as an energy source.
Just last week, Patriot Coal announced it will lay off 250 employees and contractors at three mines. Meanwhile, coal producer Alpha Natural Resources announced it is eliminating 1,200 jobs companywide. Unfortunately, these headlines are just the tip of the iceberg when it comes to the devastating economic impact resulting from the current administration’s burdensome energy agenda.
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