As seen in The Deal’s “For Coal Producers, Life Isn’t a Gas”
The Deal reports that coal companies are continuing to struggle financially as a result of environmental regulations being imposed by the government in order to reduce greenhouse gas emissions, along with the increased use of natural gas obtained via fracking. Finding it hard to compete with cleaner, cheaper sources of energy, many coal producers are either attempting to restructure or filing for bankruptcy.
According to Kaye Scholer Bankruptcy & Restructuring Partner Madlyn Gleich Primoff, "The coal story is really a natural gas story.” She continues, "If we now have an increasingly abundant supply of natural gas becoming increasingly inexpensive relative to the cost of getting coal out of the ground and the enormous cost of transporting it, that makes coal a less attractive energy source."
Also of Interest
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- Kaye Scholer Clients Achieve Nearly Full Recovery in Arch Coal Chapter 11 Proceeding October 14, 2016 • Client Successes
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- Primoff Named Best in Insolvency & Restructuring at Americas Women in Business Law Awards August 22, 2016 • Recognitions