This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Coal Decline Hits Fuel's Western Stronghold

By MATTHEW BROWN

SHERIDAN, Wyo. (AP) â¿¿ Hundreds of millions of tons of coal, packed into seams up to 60 feet thick, are still to be had beneath the rock-strewn hillsides speckled with snow that rise up along the remote Montana-Wyoming border.

Yet for Mike Cooley, the days of drilling explosives into the ground to blast the fuel from the earth are over, long before he ever expected. The 41-year-old thought his job as a "powderman" at the Decker strip mine would take him into retirement.

Now he's looking for new work, after he and 58 other miners were laid off from Decker in recent weeks to add to several hundred jobs reported lost in the past year from the nation's largest coal-producing region.

As a dispute over West Coast ports hobbles the industry's ability to reach booming markets in Asia, cheap natural gas is undercutting coal in the U.S. â¿¿ and putting some of the small towns in coal country in economic peril.

Wringing his calloused, idle hands and staring into the winter sun through the kitchen window of his trailer house in Sheridan, not far from the mine, Cooley said he's reluctant to leave with the eldest of his three children poised to graduate high school this spring.

"But I don't want to go back to pounding nails either, not at $13 an hour," the former construction worker said as his youngest child, two-year-old Mason, hovered nearby sucking on a lollipop.

For decades, the 25,000-square-mile Powder River Basin that surrounds Sheridan has been the stronghold of the U.S. coal industry. Massive strip-mines, carved from a landscape dominated by sage brush and cattle ranches, churn out close to a half-million tons of the fuel annually, dwarfing production from mines in the Appalachians and Midwest.

Now the depressed domestic coal market is finally catching up to mines such as Decker. At least 300 jobs have been lost from mines in Montana and Wyoming since early 2012, according to preliminary data from the Mine Safety and Health Administration.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs