BlackRock says coal competition case risks US energy independence

BlackRock, the world’s largest asset manager, has expressed concerns that a coal mining competition case could threaten US energy independence. The case involves the proposed merger of Peabody Energy and Arch Resources, two of the biggest US coal miners. BlackRock believes that the Federal Trade Commission’s (FTC) opposition to the merger could reduce competition in the US coal industry, potentially leading to higher prices and reduced supply. This, in turn, could impact the country’s energy security, particularly in regions that rely heavily on coal for power generation. BlackRock’s warning highlights the delicate balance between environmental concerns and energy needs, and the potential unintended consequences of antitrust actions in the industry.