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TOP OF 2013 — Murray Buys Consol Mines

Five Coal Mines Shift Ownership

December 26, 2013

EDITOR’S NOTE: The past 12 months have been interesting — and at times, trying — for local residents, as natural gas drilling, politics, court cases and numerous other issues dominated the daily......

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Dec-26-13 6:11 AM

While "Robert E. Murray..spent much of 2012 and 2013 vowing that President Obama and Congressional Democrats are waging a "War.."

and while Consol management said Murray was the clear winning bidder because he assumed the pension liabilities that higher bidders would not even though they offered more cash

and with Murray purchasing $2.1 billion in liabilities for UMWA post-retirement benefits..$149 million ib environmental liability...$105 million in workers compensation claims....$61 million in pneumoconiosis claims..and $13 million in disability claims

..Goldman Sachs who provided Mirray with financing for the deal has lawyer contacts who can steal more money than any man with a gun

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Dec-26-13 8:18 AM

Can anyone say Chapter 11 sometime in the future.

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Dec-26-13 8:48 AM

rockhead, World-wide coal consumption is at an all time high! US coal consumption is less than it was in 2010! The coal war is in the US not the World! China has increased from 30% in 2000 to 45% in 2012 in world-wide coal consumption!

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Dec-26-13 9:22 AM

dyingov has it right. West Virginia leads the nation in coal exports, with almost exactly half of the $7.4 billion worth the US sold overseas in 2012. A couple of European nations, the Netherlands and Italy, lead the buying right now, followed by India and China, but that will change as China continues to expand her industry that converts coal into gasoline, diesel, substitute natural gas and many other products. China's Shenhua, the largest coal operator in the world, report themselves to be making "huge profits" converting coal into gasoline and diesel. India, as well, via their Tata conglomerate, originally a steel maker, are getting into the coal-to-gasoline biz.

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Dec-26-13 11:08 AM

How about this for a "Top Story of 2013": "West Virginia University Converts Coal, Sewage Sludge, Scrapped Auto Tires and Agricultural Produce Into Synthetic Petroleum"? See, for one example: "United States Patent 8,597,503 - Coal Liquefaction System; Date: December 3, 2013; Inventors: Alfred H. Stiller and Elliot B. Kennel, Morgantown, WV; Assignee: West Virginia University; The present disclosure relates to a coal liquefaction system ... to liquefy coal. (The system produces a) a pitch, which may be ...upgraded to produce lighter hydrocarbon synthetic crude for fuels and chemicals." Separate US Patents issued to WVU in 2013 specify how vegetable oil, waste rubber tires, and sewage treatment plant sludge can be combined with Coal to produce synthetic crude; and, how the mineral residues, the ash, can be used to make Portland Cement. The Coal-based synthetic crude, as WVU specifies, can be processed in a conventional oil refinery.

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Dec-26-13 11:40 AM

dead on arrival, your

"World-wide coal consumption is at an all time high! US coal consumption is less than it was in 2010! The coal war is in the US not the World!"

..ain't news to me nor has it anything to do with my point..nor the fact that coal-related jobs numbers are over 15% higher during Obama's WAR on coal than during Dubya's tenure.

Your fabricated war?

Environmental costs from burning coal have always been there. Ask the people living in coal country and down-wind who have experienced it with their lungs and their water issues.

The 1949 West Virginia produced 122 millions tons of coal with 121 thousand workers. Your 2011 WV produced 139 million tons with under 25000.

"If dirt were dollars we'd all be in the black"

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Dec-26-13 11:59 AM

Since RockE brought up "Obama's" putative "WAR on coal", we'll take the opportunity to remind everyone, that, totally unreported in the local press insofar as we have been able to determine, Obama, while still a US Senator from Illinois, partnered with WV's then senior US Senator Robert Byrd as a cosponsor of Senate Bill 155 in the 110th Congress: "The Coal-to-Liquid Fuel Promotion Act of 2007". If anyone in Coal Country had been informed, and thereby been motivated to provide a little public support and momentum, we could have been converting Coal into Gasoline and Diesel by now, like they've been doing in South Africa for more than half a century, and like they're starting to do in a big way in China.

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Dec-26-13 12:45 PM

Choking: If we perceive your comment correctly, we'll point out that the US EPA studied the conversion of coal into gasoline and diesel, as it's practiced in South Africa, and determined - - in their report: "'Clean Alternative Fuels: Fischer-Tropsch'; United States Environmental Protection Agency; EPA420-F-00-036; March 2002; A Success Story (!) For the past 50 years, Fischer-Tropsch fuels have powered all of South Africa’s vehicles, from buses to trucks to taxicabs. The fuel is primarily supplied by Sasol, a world leader in Fischer-Tropsch technologies. Sasol’s South African facility produces more than 150,000 barrels of high quality fuel from domestic low-grade coal daily. The popular fuel is cost-competitive with crude oil-based petroleum products in South Africa" - - that, making and using gasoline and diesel from Coal is, overall, cleaner and better for the environment than making and using conventional natural petroleum-based fuels.

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Dec-26-13 4:17 PM

Rockhead, Your boy is waging his CO2 war in the US, the World is not concerned with the global warming propaganda!

Yes, mining is a lot more efficient in 2013! Long-wall and continuous miners have replaced the pick-n-shovel!

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Dec-26-13 6:07 PM

dying "the World is not concerned with the global warming propaganda!"

In your narrow world perhaps. the real world the European Union has in fact initiated emissions cap instruments and 23 multinationals included BP ,Ford, Toyota, British Airways, Unilever..have issued a statement that governments need to act on greenhouse gases.

..small steps, yes but at least in the opposite direction of your 'war on coal' constituency.

"Long-wall and continuous miners have replaced the pick-n-shovel"

Yea, having worked in the industry with my 1st Class Foreman of Gaseous Mines certification I know.

I also know of the riskiness of pulling pillars in nonconducive Crandall Canyon where the resulting collapse triggered a 3.9 seismic event.

..I mean an earthquake caused the disaster..sorry Bob.

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Dec-26-13 10:28 PM

So glad the Ohio Valley has capitalists & Republicans like Bob Murray to invest in the valley & give great jobs & opportunities to our young people!!! How sorry the valley would be if we depended on the Obamas!!!!

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Dec-27-13 6:20 AM

and the bargeloads continue to roll on up the river.someone's buying lots of it.

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Dec-27-13 8:51 AM

rockhead, You would be correct if we only looked at the US and EU! When the World also includes China and India.....

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