The Obama Administration announced final rules Monday for its plan to limit carbon emissions from U.S. power plants. While some concessions were made to critics, the final rules actually increase the carbon cuts demanded from states and will have long-lasting impacts on the way power is produced.
Amid a devastating industry-wide downturn, one of the largest coal producers in the U.S. has filed for bankruptcy.
Coal-giant Alpha Natural Resources has been in poor financial health for some time. The company acknowledges contributing factors like increased competition from natural gas and an oversupply in the global coal market. But Alpha puts much of the blame for its bankruptcy on environmental regulations that it says are causing electric utilities to shut down coal-fired power plants.