One Obama Campaign Promise That Came to Pass: Coal Bankruptcies
- U.S. coal production this year falls to 33-year low, EIA says
- Five publicly-traded coal companies have sought bankruptcy
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Here’s one 2008 campaign promise from President Barack Obama that has clearly come to pass: the U.S. coal industry is riddled with bankruptcies.
Nearly eight years ago to the day, Obama told the editorial board of the San Francisco Chronicle his energy and climate strategies would force utilities to shutter coal-fired power plants, stifling demand for the carbon-intense fuel. Since then, no fewer than five publicly traded coal producers have sought bankruptcy protection.