[MCN] Banks backing away from coal forever?

[Lance Olsen]

DealBook|As Coal's Future Grows Murkier, Banks Pull Financing
New York Times
  - ?1 hour ago?
A Peabody Energy coal mine in Wyoming. The 
company announced last week that it might have to 
file for bankruptcy.
http://www.nytimes.com/2016/03/21/business/dealbook/as-coals-future-grows-murkier-banks-pull-financing.html?_r=0

Excerpt

Mr. Morgan's bank, now JPMorgan Chase, announced 
two weeks ago that it would no longer finance new 
coal-fired power plants in the United States or 
other wealthy nations. The retreat follows 
similar announcements by Bank of America, 
Citigroup and Morgan Stanley that they are, in 
one way or another, backing away from coal.

While coal has been declining over the last 
several years, Wall Street's broad retreat is an 
ominous sign for the industry.

"There are always going to be periods of boom and 
bust," said Chiza Vitta, a metals and mining 
analyst with the credit rating firm Standard & 
Poor's. "But what is happening in coal is a 
downward shift that is permanent."


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"Our results indicate that future reductions in 
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Jessica L. Oster et al. Late Pleistocene 
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" Š the proportion of the land surface in extreme 
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present day to 30% by the end of the twenty-first 
century." 

Eleanor J. Burke et al. "Modeling the Recent 
Evolution of Global Drought and Projections for 
the Twenty-First Century with the Hadley Centre 
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