1,100 planned layoffs likely to deal major blow to Appalachia’s iconic coal industry [View all]

[theHandpuppet]

http://dailydigestnews.com/2014/08/1100-planned-layoffs-likely-to-deal-major-blow-to-appalachias-iconic-coal-industry/
1,100 planned layoffs likely to deal major blow to Appalachia’s iconic coal industry
Industry forecasts for 2015 reveal that coal production from Central Appalachia will be less than 50 percent of the region’s output in 2009.
By Ross Cronkrite, Daily Digest News
Saturday, August 02, 2014

Alpha Natural Resources announced Thursday that it expects to lay off 1,100 employees at 11 surface coal mines in West Virginia due to continued weak market condition and federal regulations. The reductions are expected to occur by mid-October.

In 2012, The Washington Post’s Brad Plumer wrote about the problems facing Central Appalachia’s coal industry. Not only have coal jobs been disappearing for decades, but inexpensive natural gas from shale fracking and EPA regulations have also negatively impacted the region’s iconic coal industry.

The Alpha Natural Resource’s statement said federal regulations that are forcing electric utilities to shutter coal-fired power plants and do without new construction are partially responsible for the planned layoffs. Furthermore, the excess supply of coal worldwide has added to falling coal prices.

Industry forecasts for 2015 reveal that coal production from Central Appalachia will be less than 50 percent of the region’s output in 2009. In addition to new federal regulations, competition from natural gas has contributed to a significant decline in demand.... MORE