Murray Energy, Coal Company Led by Vocal Trump Supporter, Files for Bankruptcy

Murray Energy Corp, the namesake company of President Trump ally Robert Murray, has filed for bankruptcy. As the coal industry has dwindled out, Murray, the last U.S. coal baron, tirelessly lobbied for the Trump administration to save his hemorrhaging company and the industry at large. Murray personally produced an “action plan” for the White House after Trump took office in 2017. The plan called for: a federal bailout of the coal industry, eliminating a tax credit for windmills and solar panels, cutting Environmental Protection Agency staff by at least half, repealing the Clean Power Plan, and withdrawing from the Paris climate accord. Trump followed through on repealing the Clean Power Plan and pulling out of the climate accord, but has not repealed wind and solar tax credits or bailed out the coal industry. Without federal help, Murray Energy Corp. bonds became nearly worthless, as investors have turned to natural gas and renewable sources such as solar and wind. Murray is the eighth coal company to file for bankruptcy in the past year.