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California’s Head Regulator Demands Insurance Companies Divest From Coal

California’s move to ensnare coal into a regulatory morass comes on the heels of the Obama administration’s continued battle with the coal industry.

President Barack Obama announced earlier this month a move to temporarily block coal companies from setting up shop on federal lands until they undergo a battery of tests and reviews meant to determine coal’s effect on global warming.

The president’s regulations on coal, as well as an energy market that continues to move steadily toward fuel sources like natural gas, are hammering the coal industry once seen as a staple in American commerce.

Ten years ago coal produced 50 percent of the nation’s power supply, but now the coal industry only accounts for 39 percent, according to the U.S. Energy and Information Administration.
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