cancel
Showing results for 
Search instead for 
Did you mean: 
rawhide
Advisor

Now the question...

Is this outfit "Too big to fail" ? http://www.wlwt.com/money/the-largest-us-coal-company-just-filed-for-bankruptcy/38999802  

 

It's funny how the govt. picks winners and losers.

5 Replies
BA Deere
Honored Advisor

Re: Now the question...

If coal fails, how are they going to power the Tesla cars?  Smiley Very Happy

r3020
Senior Advisor

Re: Now the question...

1) Chinese windmills

2) Chinese solar panels

3) pedals.

bruce MN
Advisor

Re: Now the question...

Harness shops all over the developed world went tits up with the development and wide distribution of internal combustion powerrd motorized vehicles. Interesting that the projected losses are almost an identical % to the increase in energy production from alternatives. And that danged Obama, who invented all of this greenie stuff just in the last 7 years. Nobody had ever thought of it before. And then he went and issued an executive order to crack the Chinese economy. Basxxxd!!
hardnox
Advisor

Re: Now the question...

Ultra cheap NatGas is the #1 culprit- and capital is being destroyed at a much larger clip in that sector. And there are larger employment issues there too as the gas rig count heads to approximately zippo.

 

So in that regard I'd probably give thanks to Dick Cheney and the rest of the Drill Baby Drill crowd for stripmining regs in the face of a financialized commodity bubble that pushed a huge amount of investment into that sector.

 

A lot of capital destruction to go around- some in solar, cellulosic ethanol is an endless money pit, oil is the biggest.

 

The Invisible Hand has never worked very well in the fossil fuel business-  the oil market has almost perpetually been disciplined by something- first Standard Oil, then the Texas Railroad Commission which, following US Peak Oil in 1970 gave way to OPEC (which was modeled after the TRC).

 

Sooo.... you can either be regulated by billionaires and foreign dictators or you can let your gubmint do it. Or, Freedom!

rawhide
Advisor

Re: Now the question...

Yeah. When they figure that out it's bailout time. Just like GM.