It's looking to exit from bankruptcy, the result
of falling coal prices, bad business decisions, and huge pension obligations.
It's
falling coal prices not token carbon taxes that will snuff out Prime Minister Abbott's coal - fired dreams of becoming an energy superpower.
The switch has been driven
by falling coal prices as Asian demand has slowed, the US has replaced some coal with shale gas and mining capacity has expanded in top exporting nations like Indonesia and Australia.
Thermal coal miner New Hope says it is reviewing the pace at which it is developing new projects because
of falling coal prices and the strong Australian dollar.
That surge was fueled, in large part, because of a growing economy,
falling coal prices and a cold winter, the U.S. Environmental Protection Agency announced Thursday in its annual greenhouse gas emissions inventory.
The difference has now widened enormously with the advent of $ 1.70 natural gas, $ 30 oil, and
falling coal prices.
Coal producers say they are scaling back operations and laying off thousands of workers due to fierce competition from natural gas,
falling coal prices and tougher power plant regulations.