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New UserCoal looks to strong winter, Contura denies fraud during bankruptcy and more
29 Nov 2016
Coal is predicted to outcompete natural gas this winter. Cold temperatures and rising natural gas may make coal the main player in the electricity market, according to the Energy Information Administration.
It comes down to the cost of producing coal versus natural gas, according to the EIA. By the Administration's projections, coal will cost about half what natural gas will by February.
Alpha and Contura respond to fraud allegations
In a complaint filed in West Virginia, the state's Department of Environmental Protection claims that Contura Energy and Alpha Natural Resources execs failed to report $100 million in liabilities during their bankruptcy proceedings.
When Alpha Natural Resources emerged from bankruptcy, many celebrated the company's exit plan. A newly formed company, Contura Energy, acquired the Wyoming assets from Alpha. Environmentalists were pleased with the deal because Contura promised to replace self-bonds.
The company denied the implication that they had committed fraud.
However, if West Virginia regulators push the issue beyond the filed complaint, court battles may be on the horizon for the leaders of Contura, which now runs the Eagle Butte and Belle Ayre mines in Campbell County.
Down with CPP
Analysts and experts are still in a tizzy, figuring out how president-elect Donald Trump can do away with the Clean Power Plan, an EPA rule that he has promised to repeal.
Source: Trib.Com