Back when he was a senator running for president, Barack Obama stated he would bankrupt the American coal industry.
As president, he used the regulatory agency order and extended the definition of the Clean Air Act of 1970. The U.S. Supreme Court did grant a request to temporarily block the Environmental Protection Agency’s Clean Power Plan as a lawsuit moves forward. It was the first time the Supreme Court had ever halted federal regulations during a legal challenge.
However, it may have truly come too late.
As reported by Fox Business News, “The bankruptcy of Peabody Energy (BTU), the world’s largest private coal producer, puts an exclamation point on the industry’s struggles and their ripple effect.
Read more at Allen West Republic.com