Peabody Energy

Coal Baron Matt Ridley is Top Source in Peabody Climate Report to the White House

British climate denier and coal baron Matt Ridley is the most cited individual in coal giant Peabody Energy’s official submission to the White House addressing the company’s concerns regarding new policies proposed by the US Government around greenhouse gas emissions and climate change.

The 71-page document on the government’s National Environmental Policy Act, uncovered by DeSmogBlog, declares that greenhouse gases are a “non-existent harm”. Ridley’s opinion articles, such as one professing “fossil fuels will save the world” published in the Wall Street Journal, form much of the basis for the coal company’s arguments submitted in March.

Ridley writes frequently in the Wall Street Journal and the Times promoting fossil fuels, while at the same time earning considerable wealth from coal mining. The peer’s Blagdon Estate, north of Newcastle, covers a significant part of two opencast mines.

Peabody Energy to White House: Greenhouse Gas a 'Non-Existent Harm'

In an official submission to the White House earlier this year, U.S. coal giant Peabody Energy claims that greenhouse gas is a “non-existent harm” and a “benign gas that is essential to all life.”

The March 2015 submission from Peabody further claims that “while the benefits of carbon dioxide are proven, the alleged risks of climate change are contrary to observed data, are based on admitted speculation, and lack adequate scientific basis.”

Experts Confirm Coal Industry’s “Global Poverty” Campaign Is Bogus

When Peabody Energy isn't busy trying to have the lyrics of a folk song struck from the evidentiary record in a Wyoming lawsuit, the company is aggressively pushing fossil fuels like coal — conveniently, Peabody’s main product — as a solution to global poverty.

As Media Matters has thoroughly documented, however, experts say that not only are renewable energy and mini-grids a far better solution to uplift the world’s poor than centralized production of fossil fuel electricity, but also renewables are more affordable and impose a far lower social cost, to boot.

In Last Ditch Effort, Coal Industry Picks ‘Worst Idea Ever’ With Argument That Coal Ends Poverty

The coal industry is facing hard times as it tries to battle against a growing demand for climate action and clean energy.

Cheaper and cheaper renewables along with the increasingly successful fossil fuel divestment campaign (which largely targets coal for being the dirtiest of all the fossil fuels) means the industry has had to reimagine itself.

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.

Dirty Money vs. Clean Power: How the Fossil Fuel Industry Hopes to Kill EPA’s Climate Rule

This is a guest post by Patrick Parenteau, Professor of Law, Vermont Law School

The fossil fuel industry is pulling out all the stops in an effort to derail President Obama’s Clean Power Plan being developed by the Environmental Protection Agency under the Clean Air Act.

The proposed plan, which aims to cut carbon emissions by 30% below 2005 levels by 2030, is due to be published as a final rule this summer. Launching a preemptive strike, the coal industry filed suit earlier this year seeking an “extraordinary writ” to stop the rulemaking in its tracks. This would be an unprecedented act of judicial intervention.

Peabody Energy's Insincere 'Energy Poverty' Campaign Takes Major Hit

Two stories out late last week in the Guardian will seriously test the resolve of Peabody Energy's “Advanced Energy for Life” campaign.

The first Guardian article's title says it all: “Exclusive - Energy giant exploited Ebola crisis for corporate gain, say health experts.”

Ouch.

Power for All Shows Peabody a Real Plan to End Energy Poverty

Peabody Energy would like you to believe that coal is the only way to light up the homes of the roughly 1.1 billion who still live in energy poverty.

A new campaign launched Thursday at the United Nations’ Sustainable Energy For All Forum in New York City offers a much different solution. Clean, distributed energy sources, argue the groups behind Power for All, can eliminate energy poverty more quickly and for a fraction of the cost of centralized electric grids anchored by fossil fuels. And, of course, without poisoning the air of communities and lining the atmosphere with even more greenhouse gases.

Groups File IRS Complaint Alleging ALEC is a Lobbying Vehicle, Not a Charity

The Center for Media and Democracy (CMD) and Common Cause have filed an 18-page supplemental complaint to the U.S. Internal Revenue Service (IRS) which calls for a termination of the American Legislative Exchange Council (ALEC)'s status as a 501(c)(3) non-profit organization and requests civil and criminal charges be brought against ALEC.

Peabody CEO Greg Boyce's Long History of Climate Denial

When it comes to climate denier coal executives, there is none more outspoken than Peabody Energy CEO Greg Boyce, who recently reiterated his belief that climate change is, “an environmental crisis predicted by flawed computer models.”

Boyce made the “flawed” comment in the roll-out of Peabody's “five point plan” — which is more a grumpy rejoinder to a world keen on replacing coal with renewable energy, than an actual plan.  

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