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Congress Considers Federal Assistance For Laid-Off Coal Miners

Tyler Durden's picture




 

Submitted by Nick Cunningham via OilPrice.com,

A major coal mining company has announced another round of layoffs as declining demand for coal continues to depress the industry.

Alpha Natural Resources, the world’s third largest supplier of metallurgical coal, said Sept. 26 that it would be shuttering three mines in West Virginia due to “sustained weak market conditions and government regulations challenging the Central Appalachian mining industry.”

The closures will put 261 people out of work. The news has a familiar refrain; more than 20,000 coal miners have lost their jobs since 2011.

But coal mining jobs have been disappearing for more than 30 years. As of March 2014, there were around 79,000 jobs in coal mining in the United States, 8.3 percent fewer than a year earlier.

Compare that to the solar industry, which employs around 143,000 people, according the Solar Energy Industries Association.  

The fortunes of the two energy industries will only diverge further in coming years. Sadly, many political leaders in coal producing states have not planned for a future without coal. Instead of recognizing that the coal industry is facing inexorable decline, politicians in coal states like West Virginia and Kentucky mislead residents of their state into thinking that the situation could turn around if certain Environmental Protection Agency regulations are repealed.

There is a bit of hope, though. Rep. David McKinley (R-WV) and Rep. Peter Welch (D-VT) have introduced a bill in Congress to help out-of-work coal miners find employment in other industries.

The bill calls for the formation of a federal program similar to the Trade Adjustment Assistance, which provides job training, income support, and subsidies for U.S. workers affected by foreign trade. Coal miners who lose their jobs as a result of the industry downturn would be eligible for federal assistance.

The U.S. Department of Labor has already provided a bit of relief for struggling coal communities. For example, in June 2014, the agency announced a $7.5 million grant to workers in eastern Kentucky who were laid off when mines were closed. The money is important, but is a drop in the bucket for what is needed.

The bill proposed by McKinley and Welch would provide a year’s worth of benefits, including training and support for relocation. “Across West Virginia communities are being decimated by what’s happening to the coal industry,” McKinley said in a statement. “Coal miners and other workers are being hurt by factors beyond their control, whether it’s regulations or market forces. It’s only fair we do something to help these struggling families. This legislation represents a bipartisan effort to move beyond our differences and offer help to the proud men and women of the coal industry who are out of work.”

For a state that will experience a sustained period of economic hardship from an increasing rate of coal mine closures, it is welcome news that one of West Virginia’s elected officials is making a push to help displaced workers.

The legislation also offers a potential blueprint for a broader effort aimed at accelerating a long-term transition to cleaner energy. Much of the resistance in Congress to legislation calling for a reduction in greenhouse gas emissions comes from politicians in states that produce fossil fuels.

Obviously, opposition to action on climate change goes much deeper than fears over displaced workers, but creating a more robust transition assistance program that provides support for people that lost work in coal mines -- or on oil and natural gas rigs -- would smooth out the rough edges of a climate bill. If offered in tandem with requirements to reduce greenhouse gas emissions, a lot of the economic repercussions of enacting steeper costs on fossil fuels could be minimized.

To be sure, the McKinley-Welch bill almost certainly won’t increase the chances of legislation on climate change. Still, providing assistance for workers of a dying industry is the right thing to do.

*  *  *

So - in summary - the administration makes the decision that the US energy 'free-market' is better off with clean-energy (and subsidizes that)... unintended consequences occur (massive coal miner job losses) and so government subsidizes them... who could have seen that coming?

 

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Fri, 10/03/2014 - 13:52 | 5285422 jcaz
jcaz's picture

LOL- let Warren Buffett take care of them, he's Mr Coal.....

As long as we're going full-Socialist retard,  time to let Warren get a taste.....

Fri, 10/03/2014 - 13:53 | 5285432 whatsinaname
whatsinaname's picture

Coal stocks taking a beating lately.

Fri, 10/03/2014 - 14:04 | 5285484 Dr Strangemember
Dr Strangemember's picture

How about the WV state gov incentivising Solar companies to either start-up or move to WV to pick up the slack?  Come on guys, do I have to do ALL the mental heavy lifting for you????

BTW, doesn't just one Sears store employ more than 250 people?  Just sayin'...

Fri, 10/03/2014 - 14:51 | 5285763 ZerOhead
ZerOhead's picture

Replacing cheap and abundant thermal coal with a versatile and limited fuel such as natural gas for electricity generation is so stupid it could only have been done by highly educated minds that completely lack the ability to think critically or have another agenda up their sleeves.

Guess who is going to be affected the most by the increasing cost of power?

Fri, 10/03/2014 - 14:53 | 5285807 The9thDoctor
The9thDoctor's picture

In this 70 second clip, Candidate Obama in 2008 explains how he will "bankrupt" coal

http://youtu.be/fVW9g9JVCY4

Fri, 10/03/2014 - 15:01 | 5285841 ZerOhead
ZerOhead's picture

Probably the first promise he has actually kept. What a complete moron.

 

Fri, 10/03/2014 - 15:16 | 5285922 Four chan
Four chan's picture

who the fuck is mining all  the coal?

Fri, 10/03/2014 - 16:11 | 5286184 Anusocracy
Anusocracy's picture

Nice to see the Repubs and Dems working together to steal some more money from the public.

In all reality, private property is about as sacrosanct in the US as it was in the Soviet Union. Not at all.

Fri, 10/03/2014 - 18:14 | 5286698 nmewn
nmewn's picture

"If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it." - Everyone Knows Who ;-)

Fri, 10/03/2014 - 14:49 | 5285784 Central Bankster
Central Bankster's picture

"I will bankrupt the Coal Industry"

 

President Obola wasn't lieing.

 

Its interesting how the govenment purposely bankrupts economically productive enterprises, then puts them on government handouts, which it pays for by printing money.  With our fraudelent economy, erosion of wealth for the common person, all the wars and now Ebola, it truly is a dystopia.

Fri, 10/03/2014 - 14:55 | 5285810 ZerOhead
ZerOhead's picture

When the natural gas miracle runs out the economy will only be able to function when the sun is shining or the wind is blowing...

Fri, 10/03/2014 - 13:54 | 5285437 0b1knob
0b1knob's picture

1.) Obama outlaws coal electical generation by executive fiat.

2.) Free money (and Obamaphone?) for laid off coal miners.

3.) ?????????

4.) Get democrats elected.

Fri, 10/03/2014 - 13:55 | 5285443 GrinandBearit
GrinandBearit's picture

Obama himself said he would put them out of business.  That's one thing he did not lie about.

Fri, 10/03/2014 - 14:31 | 5285672 ejmoosa
ejmoosa's picture

Will the next POTUS have the balls to reverse what Obama hs done here?

Not likely....

Fri, 10/03/2014 - 19:03 | 5286851 Nick Jihad
Nick Jihad's picture

I think that research into safe, low-waste nuclear generation would be a better idea than "renewables",  tho natural gas from fracking is very clean and cheap, too.  For one reason or another, everyone wants to see us stop burning coal for power.

Fri, 10/03/2014 - 21:10 | 5287153 MontgomeryScott
MontgomeryScott's picture

I'm sorry that I can only give out one downarrow.

Fantasy bullshit like your mind is generating in your post must be due to too much PMSNBC.

Places like Chernoybl, Fukushima, Three Mile Island, Hanford, the New Mexico W.I.P.P., and others must not register on your radar. How many people do you know that have had, have, or will get some form of cancer? Birth defects? Early death? How about the fish? The crops? The very LAND? Any idea how big the 'exclusion zone' is around Chernoybl? Any idea how many kids there have developed thyroid cancer? FUCK. Fukushima is STILL melting. Places like that will require constant re-shielding for TEN FUCKING THOUSAND YEARS (LITERALLY!). Talk about 'riding on your grandchildren'! You ASS!

Now, regarding hydraulic fracturing... REALLY? Do you REALLY want to go there? You are either an IGNORANT ASS motherf*cker, or else are promoting the party line.

"For one reason or another, everyone wants to see us stop burning coal for power."

NO, the people who want to take control of all the world's resources and enslave humanity want to see 'us' stop using coal.

How's China doing at this 'stop using coal' thingie, you Obamanite ASS?

I own a Weber 'Big Kettle' Charcoal Barbeque. I cook REAL MEAT on it. Beef, Chicken, stuff like that. FUCK YOU. The United States has developed techniques to burn coal that essentially yield ZERO EMISSIONS (and have employed them for decades), so your ALGOREAN MUTANT CRAP about CO2 is BULLSHIT.

Your fucking commie symplant 'One' who is intentionally DESTROYING the United States is the only one I have heard of that 'wants us to stop using coal' (unless you count his 'advisors').

if you were here in front of me, I'd BITCH-SLAP you. SEVERAL TIMES.

(God damn deluded... tweaking... enslaved... mind-fucked... STUPID...)

Sat, 10/04/2014 - 18:19 | 5289422 NumNutt
NumNutt's picture

OK MS don't hold back, tell us what you really think! Just joking, I up arrowed you...

Fri, 10/03/2014 - 13:58 | 5285454 world_debt_slave
world_debt_slave's picture

sliding deeper and deeper into the Nanny State, what a sickening State to be in.

Fri, 10/03/2014 - 21:23 | 5287209 MontgomeryScott
MontgomeryScott's picture

I'm ranting here, so forgive me.

I was looking to see if anyone had pointed out the fact that the 'One' has legislated the death of the coal industry in the United States, not only crippling the infrastructure of the ENTIRE NATION and driving up energy prices until the breaking point by making it dependant on the oil companies and their pricing progroms and ALSO closing off a hundred thousand jobs or more (probably millions, due to 'trickle-down'); and that Congress is 'offering' to put these displaced REAL workers on the TEAT, making them into dependents of the Federal Government and ENSLAVING THEM by not only taking their honest work and wages away, but making them BOW DOWN and follow their new masters' bidding by giving up all privacy and free will in order to 'comply' with regulations in order to'qualify' for a stipend which will be ever-shrinking to the point of ZERO.

When you pay the gas and/or electric bills this coming winter, and the usual 'greedy oil/electric utilities' crap starts to spread, REMEMBER THIS POST.

Fri, 10/03/2014 - 13:57 | 5285456 Colonel Walter ...
Colonel Walter E Kurtz's picture

When TSHTF next time, that cheap, inexpensive, efficient coal will probably make a comeback, somehow.

Fri, 10/03/2014 - 14:25 | 5285618 Zhuge Liang
Zhuge Liang's picture

of course by then the minining infrastructure, equipment and manpower will have to be rebuilt.   

Fri, 10/03/2014 - 14:51 | 5285793 Central Bankster
Central Bankster's picture

Someone will make a fortune buying up the coal mines during these bankruptcies.  The only question will be how long does one have to wait until our criminal government will allow economic production again.  Or more realistically, who will ply the right hands first?

Fri, 10/03/2014 - 15:21 | 5285947 SilverIsKing
SilverIsKing's picture

And I'm going to bet their name sounds something like:

Shmoldman Cracks

Fri, 10/03/2014 - 21:48 | 5287289 MontgomeryScott
MontgomeryScott's picture

I would point out that the entire infrastructure of the 'federal government' of the 'CONUS' has been pledged in payment to service the 'on-books' stated debts of some SEVENTEEN TRILLION USDOLLARS (at the stated price of $35 dollars per ounce of gold). I would FURTHER make note that the USGOV considers ALL RESOURCES as ITS' OWN, because it REGULATES THEM (this includes MINERAL RESOURCES like SHALE OIL, or COAL, or... ).

Goldman Sachs is only one BANK; a 'BROKER', if you will, an 'INTERMEDIARY', a 'GO-BETWEEN'... an 'ARRANGER' of DEBTS...

Look up some charts like 'WHO OWNS THE DEBT OF THE CONUS'. While you're at it, take a crash course in Mandarin Chinese and Yiddish.

WHY would CONGRESS consider 'federal assistance' for laid-off coal miners? Don't they have unemployment insurance ALREADY?

THINK ABOUT IT. SERIOUSLY.

Now, I KNOW that Rand Paul is a Senator from Kentucky, and there's LOTS of coal miners there (the whole fracking STATE depends on coal mining for a major part of its' economy, in fact), and in 2012 he flipped and endorsed MITT ROMNEY ('ROMNEYCARE', the 'BLUEPRINT' for 'OBAMACARE') instead of his father (the Honorable Congressman from the Great State Of Texas, Dr. Ronald E. Paul), and he has stated on television that he would have no problem with domestic drones opening fire on 'suspects' in crimes suspected (but not proven by a Jury of Peers), and stuff like that. Of course, this has NOTHING TO DO at ALL with 'CONGRESS WANTS TO GIVE UNEMPLOYED COAL-MINERS SPECIAL ASSISTANCE', does it? DOES IT?

This is in no way a statement that the choice of 'the lesser of two evils' is being promoted by pointing out that Goldman-Sachs is PROBABLY not the progenitor of the Congressional action.

Fri, 10/03/2014 - 15:38 | 5286014 meistergedanken
meistergedanken's picture

Unless it's already been shipped over seas and consumed first.  I've written about this before:

http://meistergedanken.livejournal.com/27626.html

Other arrangements are being made. They just don't always make it into the news...

Fri, 10/03/2014 - 13:58 | 5285457 cluelessminion
cluelessminion's picture

Wait a minute.  I thought we were exporting coal to Asia.  Am I wrong?

Fri, 10/03/2014 - 14:15 | 5285556 Cruel Aid
Cruel Aid's picture

Transportation of coal creates dust and is bad for the epa. so no that is under full frontal attack

Fri, 10/03/2014 - 14:01 | 5285466 paul steinert
paul steinert's picture

Finally, an article on coal.

 

I bet this one gets 200,000 reads.

Fri, 10/03/2014 - 14:00 | 5285468 Seasmoke
Seasmoke's picture

Let Each of the 261 get a part time job at Home Depot and Wal-Mart. Job increases +261. 

Fri, 10/03/2014 - 14:00 | 5285471 annabelleballow
annabelleballow's picture

We should have layoffs in the government. 

Fri, 10/03/2014 - 14:07 | 5285482 ThroxxOfVron
ThroxxOfVron's picture

A lot of businesses are being crushed by .GOV, and even more by simple tech advances or social trends...

What makes workers in the coal mining industry deserving of subsidization?

Won't somebody think of the vinyl record and reel to reel tape corps that have been decimate by iPods and internet radio?

What about those poor silent film actors?

What about all those honest god-fearing hard-working leather horse saddle and buggy whip laborers?

Fri, 10/03/2014 - 14:13 | 5285506 cro_maat
cro_maat's picture

Don't forget 8 tracks.

Fri, 10/03/2014 - 14:13 | 5285542 SimplePrinciple
SimplePrinciple's picture

And who in our office of central planning gets to determine what the training will be for?  Community organizers, perhaps?

Fri, 10/03/2014 - 14:13 | 5285545 cro_maat
cro_maat's picture

Hey don't be hating on 8 tracks. They were the original iPod (though not quite as portable :)

Fri, 10/03/2014 - 15:40 | 5286035 meistergedanken
meistergedanken's picture

Maybe the fact that coal mining is highly regionalized (unlike your other examples) means they are deserving of worker training (the "subsidization" you refer to).  Or is putting them all on disabilty and food stamps a better solution for you?  Oh who am I kidding - you're one of those people who just hate all the rednecks in KY and W Va. and would be tickled pink if they all starved to death...

Fri, 10/03/2014 - 19:13 | 5286879 Nick Jihad
Nick Jihad's picture

Couldn't possibly have anything to do with Senate seats up for grabs in KY and WV.  Naw, couldn't be.

Fri, 10/03/2014 - 14:03 | 5285483 venturen
venturen's picture

143000 people in solar....solar operates about 35% of the time...where we getting our energy the other 65% of the time....WHAT A FRAUD

Fri, 10/03/2014 - 14:07 | 5285503 Al Huxley
Al Huxley's picture

Most of it comes from wind produced by Fed jawboning and political grandstanding activities.

Fri, 10/03/2014 - 14:10 | 5285523 JohnG
JohnG's picture

 

 

Yes.

Alternative energy is just that: an alternative TO energy.

Get some blanketd and long johns.

Fri, 10/03/2014 - 14:15 | 5285534 cro_maat
cro_maat's picture

I won't go into how grid tied works where you can power your home completely with solar and have a 3 year payback.

But even if you do solar offgrid you can use 1 or more electric cars as your battery bank and power your home cheaper than using gas powered grid electric.

Fri, 10/03/2014 - 14:21 | 5285601 PrecipiceWatching
PrecipiceWatching's picture

Not my home.

Not even close. Even with an enormous, high efficiency array.

 

Now, if iI lived in Death Valley, in an 800 square foot crackerbox, partially buried in the sand......

Fri, 10/03/2014 - 14:34 | 5285690 madcows
madcows's picture

right, anything north of, say, pennsylvania just doesn't have enough strong sunshine.  Oh, and it snows and rains a good chunk of the time.

I know people that have it, and it's not a money maker.  they break even with the oil folks, at best.  And, it's a headache to maintain, so i hear.

Fri, 10/03/2014 - 14:42 | 5285723 PrecipiceWatching
PrecipiceWatching's picture

I live in St. Louis.  We get plenty of sunshine.

 

Still won't work.  Not to ENTIRELY power my home anyway, or even a majority of it.

 

Even less workable without the 2016 expiring, 20-30% thieving subsidy from the EnviroCommies.

Fri, 10/03/2014 - 17:22 | 5286482 cro_maat
cro_maat's picture

I powered a 5 bedroom home in NY state with 7 KW of solar. I broke even in year 5 with an expected 30 years of free energy. I sold the house and got a $20k premium over comparable because the electricity was free and they could afford a bigger mortgage as a result.

For all those solar haters, you either don't have a house that faces south, don't want to cut down trees, would rather remodel your kitchen, live in Northern Canada or haven't done your homework. You can suck at the tit of big electric all you want. I would rather go off grid and let the MIC, Big OIL and ISIS fight it out over black goo that will eventually become irrevalent.

Fri, 10/03/2014 - 17:24 | 5286499 FredFlintstone
FredFlintstone's picture

@cro_Maat what type of system do you have now?

Fri, 10/03/2014 - 17:56 | 5286616 Stuck on Zero
Stuck on Zero's picture

Here in Southern California we pay $0.38 / KWH.  It's actually cheaper to supply a fraction of the power to your house with a diesel generator. 

Fri, 10/03/2014 - 14:07 | 5285488 firstdivision
firstdivision's picture

Adapt or lose.  Whale oil providers had to change or go bankrupt.

Interesting voting track record of these two

McKinsley http://votesmart.org/candidate/key-votes/117396/david-mckinley/29/energy#.VC7kadTD-M8

Welch http://votesmart.org/candidate/key-votes/51272/peter-welch/29/energy#.VC7kX9TD-M8

Fri, 10/03/2014 - 14:15 | 5285528 PrecipiceWatching
PrecipiceWatching's picture

Adapt to what?

Corrupt environmental Communism, and purely political bureaucratic harrassment?

 

King Coal doesn't need to "adapt".  It is fine as a superb source of energy, just as God made it.

Fri, 10/03/2014 - 14:30 | 5285657 firstdivision
firstdivision's picture

Fission is actually a God made energy source as well, which incidently is mined.  We need thorium nukes in the country.

Fri, 10/03/2014 - 14:03 | 5285490 yogibear
yogibear's picture

 "solar industry"

Government boondoggle.

 

Fri, 10/03/2014 - 14:05 | 5285496 Jack Burton
Jack Burton's picture

I'm not up on the energy markets, but if oil is sinking in price, as it is, then would coal also be dropping as well. I am sure most energy users prefer oil to coal, cheaper oil and natural gas would kill "King Coal" would it not? Does government offer subsidies of any type to coal producers? I would think state governments would look to give tax breaks and labor law concessions to give local coal production a boost. We do that in Minnesota with our Iron Ore industry. State House trys to make conditions favorable for mining, and we now have copper, nickle and gold coming on line. Many regulations have been changed to allow for sulfide mining. We are in process of opening the worlds largest "under ground" copper nickle mine. To do it, required the state to rewrite many water laws and pass new ones. Favorable tax rates are also in the pipeline. We are looking to become another Sudbury Ontario here!

Fri, 10/03/2014 - 14:04 | 5285499 kadoka
kadoka's picture

Job training?  These people live in West Virginia and have no teeth.  What jobs are they going to train them to do?  Brew Meth?  There are no jobs there besides coal.  This governent is completely stupid and easy with our money.

Fri, 10/03/2014 - 14:07 | 5285505 Jack Burton
Jack Burton's picture

Fucking Meth! And Oxyconton, Hill Billy Heroin. Drugs are rife through the valleys and small towns. Out of fucking control. Why do people take drugs? No fucking future, so why not.

Fri, 10/03/2014 - 14:22 | 5285602 Civilizedworm
Civilizedworm's picture

Right on, drugs are absolutely endemic there now. I did a stint in east tennessee and meth was all over the place. I mean EVERYWHERE. Drug deals went down in the cvs parking lot in broad daylight. I imagine west virginia is worse, and those guys really don't have any prospects beyond coal, which .gov has shut down. Them handing out benefits almost seems like a big fuck you to me. Its like if your boss fired you, then threw some petty cash at you as you walked out the door and said good luck asshole. 

Fri, 10/03/2014 - 15:04 | 5285835 The9thDoctor
The9thDoctor's picture

I read rayciss comments all of the time here on ZH. It's mainly these poor whites on all of the gov handout programs. lol

Fri, 10/03/2014 - 15:45 | 5286055 Civilizedworm
Civilizedworm's picture

Ha! In my experience all races are equally represented in the low life category. Best believe everyone I described in my previous post was white trash EBT card holders, though farther south the blacks and mexicans fill that demographic. All in all, America sucks.

Fri, 10/03/2014 - 14:09 | 5285515 ThroxxOfVron
ThroxxOfVron's picture

They will become software app coders and medical specialists and financial engineers and the like, and take prominent places in the shiney new economy, right?

Fri, 10/03/2014 - 14:16 | 5285571 kadoka
kadoka's picture

Apparently people don't understand sarcasim unless you specifically tell them it is SARC

Fri, 10/03/2014 - 14:07 | 5285507 Conchy Joe
Conchy Joe's picture

Because over regulation and half ass policies only affects coal miners.

Seems like the few that work are the enemy now.

Fri, 10/03/2014 - 14:13 | 5285529 yogibear
yogibear's picture

Obama has made production and jobs a thing of the past. All that has been delegated to China and India.

He's playing golf all the time and expects everyone else to do the same.

Get your Obama phone, collect your Federal Assistance and vote for our party in November. 

Fri, 10/03/2014 - 14:31 | 5285662 madcows
madcows's picture

after china takes us over, do you think they'll continue to pay us to not work?

Fri, 10/03/2014 - 14:08 | 5285509 madcows
madcows's picture

trying to buy votes in W. Virginia where the current admin has seriously pissed of the locals.  nothing to see here.

Fri, 10/03/2014 - 14:39 | 5285719 madcows
madcows's picture

first, the pres through the epa destroys all coal jobs.

second, the pres is told they will lose the senate b/c he pissed off w. virginia.

third, the pres gives free money and phones and houses and ebt to all coal miners.

4th, the retards vote democrat.

I suppose i would too.  after they've destroyed me, i may as well vote for them to give me free shit.  it's not like the other guy saved my ass when he had the chance.

Fri, 10/03/2014 - 14:09 | 5285518 world_debt_slave
world_debt_slave's picture

now what am I supposed to put in this years Christmas stockings?

Fri, 10/03/2014 - 14:12 | 5285538 Dr. Engali
Dr. Engali's picture

Silicone.

Fri, 10/03/2014 - 14:37 | 5285700 PrecipiceWatching
PrecipiceWatching's picture

Hope and Change.

 

But since you deployed the highly politically-incorrect word "CHRISTmas", I don't think the hate-filled secularists running the country, including the corrupt homosexual,  NigInChief himself, will allow you even that.

Fri, 10/03/2014 - 14:12 | 5285522 Atomizer
Atomizer's picture

What is the name of the idiot in White House who decided to close down coke plants, yet encourages you to buy electric devices to roll over the debt obligations. (Chevy Volt).

He is an illegal alien negro from a country called Kenyan. Erecting tents and huts is the specialty for this banana eating US President.  

Fri, 10/03/2014 - 14:12 | 5285531 Dr. Engali
Dr. Engali's picture

Train them for what? How to say "would you like fries with that?" Regardless of the .gov propaganda there aren't a lot of jobs out there to be had for these poor schlubs.

Fri, 10/03/2014 - 14:21 | 5285605 Atomizer
Atomizer's picture

Can't wait to re-employ the the illegal workforce. Chef, house cleaning, lawn care, pool upkeep, and pay them under the table 

Thanks nigger slave master Obama. Your peers must look up to you. 

Fri, 10/03/2014 - 14:12 | 5285537 Kreditanstalt
Kreditanstalt's picture

Like banks, automakers, labour unions and mortgage-holders this is yet another bailout of a deadbeat sector.

"No one can be allowed to fail, or be seen to fail!" ~ Government.

Fri, 10/03/2014 - 15:02 | 5285850 PrecipiceWatching
PrecipiceWatching's picture

Not sure how the coal industry or coal miners constitutes a "deadbeat sector".

 

Get the utterly useless government off their backs and they should flourish.

Fri, 10/03/2014 - 15:26 | 5285964 Kreditanstalt
Kreditanstalt's picture

They cetainly are subsidizing - with taxpayers' money - workers who should be bona-fide unemployed.  That counts as a bailout in my book...

That said, you're right - the government should also get the hell out of trying to put the coal mining industry out of business and let people CHOOSE what to mine, how much to charge, how much in wages to pay and what kind of fuel they wish to use...

Fri, 10/03/2014 - 14:18 | 5285591 kchrisc
kchrisc's picture

What are they going to re-train them in, retail?! LOL

An American, not US subject.

Fri, 10/03/2014 - 15:03 | 5285855 The9thDoctor
The9thDoctor's picture

lol

Fri, 10/03/2014 - 14:32 | 5285667 Atomizer
Atomizer's picture

Obama, don't let me pull out my whip when these Ammesty slaves don't meet the daily average of cotton picking expectations. 

Is your ass puckering yet? 

Fri, 10/03/2014 - 14:36 | 5285704 ToNYC
ToNYC's picture

Goldman can trade Coal Miner Carbon Credits as they sequester the workers in the Sequestered Forests of  the Carbon-Credit banks.

Fri, 10/03/2014 - 14:51 | 5285790 In.Sip.ient
In.Sip.ient's picture

They can bail out General Motors?

 

Well, I guess they can bail out Coal Miners as well...

 

?

Fri, 10/03/2014 - 16:10 | 5286178 silverer
silverer's picture

And behold!  The list shall grow!

Fri, 10/03/2014 - 15:19 | 5285937 gwar5
gwar5's picture

Must be election time again.....

"Jobs" and debt forgiveness for the indebted, unemployed grads; and now this money for West coal miners in West Virginia, Kentucky and Ohio.....

Fri, 10/03/2014 - 15:27 | 5285965 SethDealer
SethDealer's picture

when power prices triple coal will be back

Fri, 10/03/2014 - 15:38 | 5286013 silentboom
silentboom's picture

True, this is just a result of falling demand due to global recession....of course you wouldn't know it by the news reports.

Fri, 10/03/2014 - 15:35 | 5286007 silentboom
silentboom's picture

Free shit for everyone, no more misfortune.  All you need is a sad story that can be used on the campaing trail or a big enough voter block.  Fucking criminals.

Fri, 10/03/2014 - 15:58 | 5286128 robobbob
robobbob's picture

..........unintended consequences occur (massive coal miner job losses)............

Unintended?

let us revisit yesteryear

BHO: " ....will necessarily bankrupt coal.........."

sounds like their policies are getting their exact intended outcomes

all the feel good band aid crap will create the same results it has in every out sourced american industry. 10% will find better paying jobs. 20% will find equal paying jobs, 30% will find worse paying jobs, and the rest will join the ever growing permenant entitlement crowd. Clowerd/Piven "oh looky, new recruits for the FSA, hurray"

 

Fri, 10/03/2014 - 16:06 | 5286159 silverer
silverer's picture

Hey coal miners - remember the Hope and Change, and your unions telling you to vote for now President Golfstix.  How's that Hope and Change working out for you now?  Now you'll be on handouts.  The Feds just permanently feminized you.  Make sure you do whatever the union tells you to next time.  I'm sure it will be in your best interest.

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