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TexasTowelie

(111,292 posts)
Wed Jul 17, 2019, 05:14 AM Jul 2019

Blackjewel layoffs could have 'truly scary' impact on economy

With two of Wyoming’s largest coal mines closed pending Blackjewel LLC’s bankruptcy filings and approximately 600 laid-off workers warming the bench, legislators and state economists are contemplating the future of coal in Wyoming.

“Just because a coal mine stops producing doesn’t mean the demand for coal stops,” said Dan Noble, Wyoming Department of Revenue’s director. “Because most coal-fired power plants use Powder River Basin coal, those coal customers may switch to the other producers in that area. At which point, there’s not a significant drop off of coal produced.”

Wyoming Sen. Cale Case, R-Lander, explained coal-fired power plants tune their operations to coal products from specific regions of the world.

“Another mine (in the basin) might be able to pick up (Blackjewel’s) contracts,” Case said. “While that’s a reasonable story for the tax receipts, it’s not at all good for the laid-off workers.”

Read more: https://cowboystatedaily.com/2019/07/14/blackjewel-layoffs-could-have-truly-scary-impact-on-economy/

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