Peabody Energy's Bankruptcy and the Demise of Big Coal

A major bankruptcy today may tell a much anticipated story: the coal industry may never be coming back.

As the search for alternatives to fossil fuels continues, politicians from certain states inveigh against "the war against coal." Today, the biggest American coal company of all, Peabody, declared bankruptcy. Patrick McGinley is a professor at the West Virginia School of Law. He's taught courses about the law involving energy sources for 40 years.