PeabodyEnergy
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Biggest US coal miner bankrolled anti-climate change groups
The wealthy using its money to suppress (or avenge) inconvenient truths is nothing new, even if nobody thought to use a washed-up pro wrestler for cover until now. But there are far worse things for a one-percenter to do than force Gawker into bankruptcy, such as helping to push the planet towards a preventable ecological crisis. The Guardian has found that Peabody Energy, America's biggest coal mining company, used its cash to bankroll an enormous and diverse group of pro-carbon lobby groups and scientists. The now-bankrupt firm is accused of funding what one source described as "the heart and soul of climate denial."
World's largest coal mining firm declares bankruptcy
It won't shock you to hear that the coal industry is facing tough times lately. Job cuts, mine closures and other signs of financial trouble are par for the course. However, that downturn just reached an important milestone: Peabody Energy, the world's largest private coal mining company, has filed for Chapter 11 bankruptcy across most of its US divisions. The firm says it didn't have much choice between steep drops in the price of coal, a weak Chinese market, overproduction of shale gas and "regulatory challenges" (read: better environmental policies). In plainer terms, people just aren't as interested in coal energy as they were in years past.
