| CHEYENNE,
Wyo. – Governor
Mark Gordon has issued the following statement on the administrative complaint
filed by the Federal Trade Commission challenging a proposed joint venture
between Peabody Energy Corporation and Arch Coal:
“I believe this complaint by the Federal Trade
Commission is a wrongheaded attempt to drive a nail into an industry which is
struggling to adapt to a rapidly changing marketplace. It could also result in
significant impacts to the workforce of the North Antelope Rochelle and Black
Thunder coal mines.
Today’s energy marketplace is
broad and includes wind, solar, natural gas, hydroelectric and geothermal, all
of which have become more competitive since 2018. The FTC appears to have
ignored this fact, and seems intent on extending the uncertainty facing coal
companies in the Powder River Basin. I don’t believe the broader energy
marketplace will benefit from a challenge to this merger, or see higher prices.
We will be watching this court case closely.” |
