Coal Shares Jump After Supreme Court Rejects Mercury Rule
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Beleaguered U.S. coal producers were thrown a lifeline after the Supreme Court struck down the Obama administration’s rule on mercury and acid gases from power plants, saying it hadn’t considered the billions of dollars in costs before issuing the rule.
Shares of coal miners soared after the 5-4 decision was announced Monday. Peabody Energy Corp., the largest coal supplier in the U.S., climbed 9.6 percent, Arch Coal Inc. jumped