{"id":7616,"date":"2012-07-10T21:21:14","date_gmt":"2012-07-11T04:21:14","guid":{"rendered":"http:\/\/savingtherepublic.com\/blog\/?p=7616"},"modified":"2012-07-10T21:21:14","modified_gmt":"2012-07-11T04:21:14","slug":"obamas-war-on-coal-taking-effect","status":"publish","type":"post","link":"http:\/\/savingtherepublic.com\/blog\/2012\/07\/obamas-war-on-coal-taking-effect\/","title":{"rendered":"Obama&#8217;s War on Coal Taking Effect"},"content":{"rendered":"<p style=\"text-align: center;\"><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/m2KJYrjQkgY?rel=0\" frameborder=\"0\" width=\"360\" height=\"203\"><\/iframe><\/p>\n<p>&#8220;The Coal Industry is going to go bankrupt because of President Obama&#8217;s boot against their throat&#8221;<br \/>\n&#8230;&#8230;.<br \/>\nHere&#8217;s the article on Patriot Coal going bankrupt:<\/p>\n<p style=\"text-align: center;\"><strong>Patriot Coal Files For Bankruptcy Protection In New York<\/strong><\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2012-07-09\/patriot-coal-files-for-bankruptcy-protection-in-new-york.html\">By Tiffany Kary and Dawn McCarty | Bloomberg<\/a><br \/>\nPatriot Coal Corp. (PCX) sought bankruptcy protection after milder winters and a shift to natural gas sent coal demand to a 24-year low.<\/p>\n<p>The St. Louis-based company\u00e2\u20ac\u2122s Chapter 11 petition listed $3.57 billion in assets and $3.07 billion in debts. The filing in U.S. Bankruptcy Court in Manhattan said dozens of the company\u00e2\u20ac\u2122s units would join in the filing.<\/p>\n<p>\u00e2\u20ac\u0153The coal industry is undergoing a major transformation and Patriot\u00e2\u20ac\u2122s existing capital structure prevents it from making the necessary adjustments to achieve long-term success,\u00e2\u20ac\u009d Chief Executive Officer Irl F. Engelhardt said in a statement that cited lower thermal coal prices, canceled customer contracts and rising costs for environmental liabilities for increasing pressure on the company in recent months.<\/p>\n<p>Patriot already has a loan to finance operations in bankruptcy and expects its mining operations and customer shipments to continue through the case, the company said in its statement. The $802 million loan, which still requires court approval, is through Citigroup Global Markets Inc., Barclays Bank Plc and Merrill Lynch, Pierce, Fenner &amp; Smith Inc. as joint lead arrangers. <a href=\"http:\/\/www.bloomberg.com\/news\/2012-07-09\/patriot-coal-files-for-bankruptcy-protection-in-new-york.html\">&#8230;read more<\/a><br \/>\n&#8230;&#8230;.<br \/>\nAnd here is the Emperor making the promise to put the coal industry out of business.<\/p>\n<p style=\"text-align: center;\"><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/JpC4Lrs6xLg?rel=0\" frameborder=\"0\" width=\"360\" height=\"270\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The Coal Industry is going to go bankrupt because of President Obama&#8217;s boot against their throat&#8221; &#8230;&#8230;. Here&#8217;s the article on Patriot Coal going bankrupt: Patriot Coal Files For Bankruptcy Protection In New York By&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_options":[]},"categories":[798,13,549,169],"tags":[11200,15234,1109,1067,15241,11252,15236,8135,9027,15238,198,15240,15233,15237,15235,15239],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/posts\/7616"}],"collection":[{"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/comments?post=7616"}],"version-history":[{"count":0,"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/posts\/7616\/revisions"}],"wp:attachment":[{"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/media?parent=7616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/categories?post=7616"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/savingtherepublic.com\/blog\/wp-json\/wp\/v2\/tags?post=7616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}