The US coal mining company filed for bankruptcy

The US coal mining company filed for bankruptcy

On the weekend, the coal and nuclear division of the Ohio energy company, FirstEnergy, filed for bankruptcy. At the same time, the company sent a letter to the Energy Department asking for emergency assistance. The company’s branches seek refuge through a seldom used part of federal law, which is normally reserved for natural disasters or wars. The submission of bankruptcy applications and applications for funding show that the coal industry continues to face enormous pressure, mainly due to low natural gas prices.

Source: http://money.cnn.com/2018/04/02/investing/firstenergy-coal-bankruptcy-trump/index.html

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