Please ensure Javascript is enabled for purposes of website accessibility
Coal Giant Murray Energy Seeks Bankruptcy Protection
gvw_ap_news
By Associated Press
Published 5 years ago on
October 29, 2019

Share

CHARLESTON, W.Va. — A major U.S. coal mining company is seeking bankruptcy protection, joining a growing list of struggling coal operations as communities switch away from fossil fuel to less-polluting renewable energy or natural gas.
Ohio-based Murray Energy filed for Chapter 11 bankruptcy reorganization Tuesday.
Several other major coal producers have filed for bankruptcy protection this year, including Blackjewel Mining in West Virginia and Cloud Peak Energy in Wyoming.
Former Murray Energy CEO Robert Murray said the move was necessary to access liquidity and best position the company for long-term success.
Government preference for gas and renewable energy to replace coal-fired power generation, combined with a recent severe reduction in coal experts, delivered a one-two punch that an over-extended Murray Energy could not withstand, said Cecil Roberts, president of United Mine Workers of America.

Company Founder is Strong Trump Supporter

“Now comes the part where workers and their families pay the price for corporate decision-making and governmental actions,” Roberts said in a prepared statement. “But that does not mean we will sit idly by and let the company and the court dictate what happens to our members and our retirees. We have high-powered legal, financial and communications teams in place that will fight to protect our members’ interests in the bankruptcy court.”

“Now comes the part where workers and their families pay the price for corporate decision-making and governmental actions. But that does not mean we will sit idly by and let the company and the court dictate what happens to our members and our retirees…”Cecil Roberts, president of United Mine Workers of America
West Virginia Senate President Mitch Carmichael said the bankruptcy filing was surprising even with the evident struggles in the coal business, adding that he’s concerned about pensions and worker protections for the business’ nearly 7,000 employees.
Robert Murray will be replaced as CEO by Robert Moore, the company announced Tuesday. Murray is a major backer of President Donald Trump, who has made saving coal jobs a key part of his campaign.
Murray hosted a fundraiser for Trump in July, which had been expected to raise $2.5 million for a joint committee supporting Trump’s re-election campaign and the Republican National Committee. The coal-country crowd at the closed-door event included the governors of West Virginia, Kentucky and Ohio.
Murray is also a supporter of Trump’s regulatory actions aimed at scaling back environmental protections put in place during Barack Obama’s presidency. He has flexed his influence at the local level as well, donating thousands of dollars to the 2020 campaign of West Virginia Gov. Jim Justice and successfully pushing for a tax cut on steam coal in the economically depressed Mountain State.

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

NBA Playoff Guide: Who Plays When, How to Watch, What the Odds Are

DON'T MISS

Americans Haven’t Found a Satisfying Alternative to Religion

DON'T MISS

Supreme Court Blocks, for Now, New Deportations Under 18th Century Wartime Law

DON'T MISS

Senator Slams ‘Margaritagate’ Stunt During Deportee Visit

DON'T MISS

Fresno County Pushes Valley to Highest Rates of Domestic Violence Calls in CA

DON'T MISS

LA Rams Can Bolster a Contending Roster With Another Strong Showing in NFL Draft

DON'T MISS

Mijo Proves Love Is Blind and That One Eye Is More Than Enough

DON'T MISS

Taking a Mental Health Leave From Work Is an Option Most People Don’t Know About

DON'T MISS

Hey PG&E Customers, Get Ready for New ‘Transaction Fees’

DON'T MISS

Fresno County Ending ‘Squaw Valley’ Fight After Latest Court Ruling

UP NEXT

Senator Slams ‘Margaritagate’ Stunt During Deportee Visit

UP NEXT

LA Rams Can Bolster a Contending Roster With Another Strong Showing in NFL Draft

UP NEXT

Trump Admin Asserts COVID-19 Originated in Chinese Lab, Targets Fauci

UP NEXT

2 Killed and 5 Hurt in Florida State University Shooting; Gunman in Custody

UP NEXT

Supreme Court to Hear Arguments on Trump Plan to End Birthright Citizenship

UP NEXT

Popular AIs Head-to-Head: OpenAI Beats DeepSeek on Sentence-Level Reasoning

UP NEXT

Al Sharpton Calls Meeting With Target’s CEO Amid DEI Backlash ‘Very Constructive and Candid’

UP NEXT

Former Pentagon Spokesman Tied to Online DEI Purge Was Asked to Resign

UP NEXT

The Kings Agree to Hire Scott Perry as General Manager, AP Source Says

UP NEXT

Shooting at Florida State Sends Students Running; Nearby Hospital Says It’s Treating People

Senator Slams ‘Margaritagate’ Stunt During Deportee Visit

34 minutes ago

Fresno County Pushes Valley to Highest Rates of Domestic Violence Calls in CA

58 minutes ago

LA Rams Can Bolster a Contending Roster With Another Strong Showing in NFL Draft

1 hour ago

Mijo Proves Love Is Blind and That One Eye Is More Than Enough

2 hours ago

Taking a Mental Health Leave From Work Is an Option Most People Don’t Know About

2 hours ago

Hey PG&E Customers, Get Ready for New ‘Transaction Fees’

19 hours ago

Fresno County Ending ‘Squaw Valley’ Fight After Latest Court Ruling

20 hours ago

Exclusive: Tesla to Delay US Launch of Affordable EV, a Lower-Cost Model Y, Sources Say

20 hours ago

Clovis Reconsiders Recycling Vote. Will a Campaign Contribution Matter?

20 hours ago

Gov. Newsom Offers $50K Reward in 2022 Kings County Homicide

21 hours ago

NBA Playoff Guide: Who Plays When, How to Watch, What the Odds Are

It’s go time. The race for the Larry O’Brien Trophy is finally beginning. The 2025 NBA playoffs start Saturday with four games: ...

8 minutes ago

8 minutes ago

NBA Playoff Guide: Who Plays When, How to Watch, What the Odds Are

17 minutes ago

Americans Haven’t Found a Satisfying Alternative to Religion

26 minutes ago

Supreme Court Blocks, for Now, New Deportations Under 18th Century Wartime Law

34 minutes ago

Senator Slams ‘Margaritagate’ Stunt During Deportee Visit

58 minutes ago

Fresno County Pushes Valley to Highest Rates of Domestic Violence Calls in CA

Rams
1 hour ago

LA Rams Can Bolster a Contending Roster With Another Strong Showing in NFL Draft

Mijo, a one-eyed puppy with a heart full of love, is winning hearts everywhere and proving he's the perfect companion for any home.
2 hours ago

Mijo Proves Love Is Blind and That One Eye Is More Than Enough

2 hours ago

Taking a Mental Health Leave From Work Is an Option Most People Don’t Know About

Help continue the work that gets you the news that matters most.

Search

Send this to a friend