Front Porch Blog

Mr. Peabody’s Coal Train is OUTTA HERE!

It looks like Peabody Coal is abandoning Appalachia in favor of cleaner waters…

“Peabody’s strategy is to remain the leader in the Powder River, Southwest Colorado and Illinois Basins, to continue to grow rapidly in Australia and to expand into the fastest growing global markets for coal, led by China and India,” Chief Executive Gregory Boyce said during a conference call with analysts. “This transaction would allow Peabody to continue to deliver on these strategies.”

Meanwhile, Boyce said Peabody’s mines in West Virginia and Kentucky would be better off on their own.

Ummm…thanks…

…but no thanks.

Thats business speak for…we’re getting out of this quicksand and tossing the locals an anchor. Peadbody likely sees the writing on the wall, that there is just 10-20 years left of high-quality coal left in the Appalachians. Appalachian coal has doubled in price in the last decade, and is well beyond peak production.

William Lacy Clay (MO-1) represents St. Louis, Missouri. St. Louis is also the location of Peabody’s headquarters. Well…kudos to Representative Clay, because just this week he signed on to be an original co-sponsor on the Clean Water Protection Act! Wahoo!

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