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--></style><title>Banks backing away from coal
forever?</title></head><body>
<div><font face="Lucida Grande"><b>DealBook|As Coal's Future Grows
Murkier, Banks Pull Financing</b></font></div>
<div><font face="Lucida Grande">New York Times</font></div>
<div><font face="Lucida Grande"> - ?1 hour ago?</font></div>
<div><font face="Lucida Grande">A Peabody Energy coal mine in Wyoming.
The company announced last week that it might have to file for
bankruptcy<font size="-1">.</font></font></div>
<div><font face="Lucida Grande"
size="-2"
>http://www.nytimes.com/2016/03/21/business/dealbook/as-coals-future-<span
></span>grows-murkier-banks-pull-financing.html?_r=0</font></div>
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<div><font face="Lucida Grande">Excerpt</font></div>
<div><font face="Lucida Grande"><br></font></div>
<div><font face="Lucida Grande" size="-5">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.</font></div>
<div><font face="Lucida Grande" size="-5"><br>
While coal has been declining over the last several years, Wall
Street's broad retreat is an ominous sign for the
industry.</font></div>
<div><font face="Lucida Grande" size="-5"><br>
"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."</font></div>
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<br>
Eleanor J. Burke et al. "Modeling the Recent Evolution of Global
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