(NYSE: BTU)

A Bad Week For Coal Mining Industry, Even Worse for Peabody Energy

It's been a really bad week for major U.S. coal companies as we head into the July 4th holiday weekend. 

St. Louis-based Peabody Energy (NYSE: BTU) closed today at $1.87 a share, down from a high of $84 per share in mid-2008. The company's chief financial officer Michael C. Crews resigned abruptly on June 28 amidst the freefall.

Another major U.S. coal company, Alpha Natural Resources (NYSE: ANR) hit a new all-time low yesterday at just 27 cents per share, and sank as low as 24 cents that morning.

Arch Coal (NYSE: ACI) also hit its all-time low of 33 cents per share as well, down from its all-time high of $73.42 in 2008.

All three companies' 
stock values are down roughly 80% from the beginning of 2015.

Leaked Clean Coal Strategy Memo to Peabody Energy

A 2004 memo from Steve Miller, CEO of a coal industry lobby group to the CEO of Peabody Energy, details the public relations and lobbying strategies being used to deal with issues ranging from climate change to Mercury.

When it rains it pours.

Earlier today we told you about a newsletter written by a Virginia-based public relations firm called the Hawthorn Group that sent out a newsletter to their “friends and family” outlining the work they did on behalf of a coal industry lobby group called the American Coalition for Clean Coal Electricity.

Now we’ve came across a 2004 memo to coal giant Peabody Energy (NYSE: BTU) from Steve Miller, then President of the Center for Energy and Economic Development (now called American Coalition for Clean Coal Electricity) to Irl F. Engelhardt, the CEO of one of the largest coal companies in the world, Peabody Energy.

The memo provides a lot of insight into the strategies and tactics that the coal lobby was using at the time to spin everything from Mercury to climate change to the McCain-Lieberman bill.

Below are some of the choice quotes, if you want to download the entire document in PDF go here: Coal Industry Strategy Letter to CEO of Peabody Energy.

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