Dynegy Files For Bankruptcy -- Nothing To Do With the Bakken

Link here.

Dynegy Inc. said Tuesday that one of its subsidiaries is seeking bankruptcy protection as part of a plan that will force bondholders to take heavy losses while shielding major investors including billionaire Carl Icahn.

The Houston power company, which serves utilities in the Midwest, Northeast and the West, made the decision after struggling for years with lower electricity prices, falling credit ratings, and infighting among investors over competing takeover offers.

I have no idea what is going on at Dynegy. I have never followed the company. However, when I see "struggling for years with lower electricity prices," and remembering President Obama's goal to destroy the coal industry, it gives me pause to reflect. 

It also makes me consider revisiting the North Dakota - Minnesota argument over electricity produced from coal, but perhaps that will be for another day.