What goes around
Peabody Coal, the world’s largest privately owned coal company, filed for bankruptcy in April.
Peabody is currently the focus of a book, Unreal City, that describes how Western politicians in the mid- to late 20th century manipulated Hopi and Navajo tribes in Arizona to obtain their land, water, and massive coal deposits to feed the growth of cities like Phoenix, Las Vegas and Los Angeles. Peabody was the corporate beneficiary.
The bankruptcy is raising concerns about Peabody’s pension and reclamation obligations and whether they will be fulfilled.