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Bankruptcies Starting To Pile Up In Coal Industry

The coal industry is in uncharted territory. After decades of strong financial numbers and dominance in the electric power sector, coal producers are starting to fall apart faster than anyone could have anticipated. SNL Financial has produced some jaw dropping data on the quickly deteriorating coal industry, with a horrific performance in the second quarter. The U.S. coal mining sector has exhibited an unprecedented wave of turmoil in just the last few weeks. Walter Energy, an Alabama coal miner, announced on July 15 that it is filing for bankruptcy.…

via Daily News Update