Open Pit Mine (upper right) and Tailings Storage Pond (lower left), Sonora Mexico (from 35,000 feet)

The Lessons from Cloud Peak


As WC noted yesterday, Cloud Peak Energy has filed Chapter11. The promises, actual and implied, Cloud Peak made in its mining plan and environmental impact statements are in very serious jeopardy, because the continued existence of Cloud Peak itself is doubtful. What are the lessons to be drawn from all this? First, and most obviously,…