Economy & Business

As coal stocks plummet and a growing number of coal companies face bankruptcy, large banks are increasingly taking their money out of coal investments.

"Tens of thousands of miners were on strike and coal prices were skyrocketing in October 1902. Afraid of unrest, President Theodore Roosevelt sought the help of John Pierpont Morgan.

The powerful banker, who held great sway over the coal industry, brokered a deal with the miners that ended the strike.

"Peabody Energy Corp., the largest U.S. coal miner, said it may not be financially strong enough to remain in business in its current form and that the company may seek bankruptcy protection."

"Many large Canadian companies are financing legal action and lobbying against President Barack Obama’s climate change plan, putting the public and their investors at risk, said a new report released on Monday by an investment services organization."

"Two months after Arch Coal filed for bankruptcy protection amid a steep decline in the coal industry, the company has announced that it will stop pursuing a project in the grasslands of southeastern Montana that would have been one of the larger surface coal mines in the country."

"Norway's $830-billion sovereign wealth fund pulled out of 27 firms with links to coal last year as part of a policy to combat climate change, prompting campaigners to urge other big investors to follow suit."

"A host of green groups and conservation organizations are asking President Obama to back away from his plan to delay federal revenue sharing for coastline conservation work in his 2017 budget."

"Marilyn and Jack Whitcher have been regular visitors to the glacier-carved valley of Yosemite National Park since they were dating more than five decades ago. This trip was different."

"The Department of Energy's relationship with uranium enrichment company USEC Inc. will be under the microscope this week, when Secretary Ernest Moniz visits Capitol Hill to defend the agency's budget request."