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

Live Horse Racing Out for 2025 Big Fresno Fair

DON'T MISS

Fresno Councilmembers Want to End Sending of Homeless People to City

DON'T MISS

Fresno Agencies Scramble for Clarity on Trump’s Ordered End to Federal Aid

DON'T MISS

Trump Offers All Federal Workers a Buyout With 7 Months’ Pay

DON'T MISS

California Shoots Down Trump’s Claim That US Military ‘Turned on the Water’

DON'T MISS

Federal Judge Temporarily Blocks Trump Administration Freeze on Federal Grants and Loans

DON'T MISS

Will You Boycott Super Bowl Because of Alleged Referee Favoritism for Chiefs?

DON'T MISS

Warriors to Retire Andre Iguodala’s No. 9 Jersey

DON'T MISS

Israel’s Prime Minister Says Trump Has Invited Him to the White House on Feb. 4

DON'T MISS

Trump Administration Halts HIV Drug Distribution in Poor Countries

UP NEXT

‘Doomsday Clock’ Moves Closer to Midnight Amid Global Threats

UP NEXT

CNN’s Jim Acosta, an Irritant to Trump, Says He’s Quitting

UP NEXT

Man Pardoned in Jan. 6 Riot Is Fatally Shot by Sheriff’s Deputy During Traffic Stop

UP NEXT

California Projected to Lose Congressional Seats While Texas, Florida Gain

UP NEXT

3.8 Magnitude Earthquake Felt in Boston and Maine

UP NEXT

Secret Service Agents Seeking Student Over Trump Video Blocked From School

UP NEXT

CNN Announces Layoffs as Part of a Further Shift to Digital Business

UP NEXT

Justice Dept. Directs Prosecutors to Probe Local Efforts to Obstruct Immigration Enforcement

UP NEXT

‘Once in a Lifetime’ Snow Hits Parts of the US South

UP NEXT

Musk’s Straight-Arm Gesture Embraced by Right-Wing Extremists

Trump Offers All Federal Workers a Buyout With 7 Months’ Pay

7 hours ago

California Shoots Down Trump’s Claim That US Military ‘Turned on the Water’

7 hours ago

Federal Judge Temporarily Blocks Trump Administration Freeze on Federal Grants and Loans

7 hours ago

Will You Boycott Super Bowl Because of Alleged Referee Favoritism for Chiefs?

10 hours ago

Warriors to Retire Andre Iguodala’s No. 9 Jersey

10 hours ago

Israel’s Prime Minister Says Trump Has Invited Him to the White House on Feb. 4

10 hours ago

Trump Administration Halts HIV Drug Distribution in Poor Countries

10 hours ago

‘Doomsday Clock’ Moves Closer to Midnight Amid Global Threats

10 hours ago

Trump Wants to Break California’s Sanctuary State Law: 5 Things to Know

10 hours ago

Stock Market Today: Wall Street Steadies After Nvidia, Tech Sell-Off

10 hours ago

Live Horse Racing Out for 2025 Big Fresno Fair

Horse racing, at least for now, isn’t in the Big Fresno Fair’s future. The California Association of Racing Fairs voted not to r...

4 hours ago

4 hours ago

Live Horse Racing Out for 2025 Big Fresno Fair

5 hours ago

Fresno Councilmembers Want to End Sending of Homeless People to City

6 hours ago

Fresno Agencies Scramble for Clarity on Trump’s Ordered End to Federal Aid

President Donald Trump greets a Marine Corps honor guard as he disembarks Marine One upon arrival on the South Lawn of the White House in Washington, Monday, Jan. 27, 2025. (AP/Rod Lamkey, Jr.)
7 hours ago

Trump Offers All Federal Workers a Buyout With 7 Months’ Pay

California water system
7 hours ago

California Shoots Down Trump’s Claim That US Military ‘Turned on the Water’

President Donald Trump speaks to reporters aboard Air Force One en route from Miami to Joint Base Andrews, Md., Monday, Jan. 27, 2025. (AP/Mark Schiefelbein)
7 hours ago

Federal Judge Temporarily Blocks Trump Administration Freeze on Federal Grants and Loans

10 hours ago

Will You Boycott Super Bowl Because of Alleged Referee Favoritism for Chiefs?

10 hours ago

Warriors to Retire Andre Iguodala’s No. 9 Jersey

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

Search

Send this to a friend