Though the company that wants to purchase three mining operations from utility giant American Electric Power won't confirm or deny it, the deal could result in some laid-off miners being called back to work, as well as coal miners in Meigs County keeping their jobs. Southern Ohio operates the Meigs mine complex in Wilkesville, which for years has provided coal to AEP's nearby Gavin power plant.
Coal mining is just a very small part of what AEP does.
Currently, deregulation of the energy industry is being blamed for serious energy shortages, such as hit California earlier this year. In addition, Vice President Dick Cheney earlier this week made it clear that the administration will seek greater use of fossil fuels to meet future energy demands. We look at these things over the long run, rather than trying to respond to a particular energy situation. He added that his understanding is that AEP has decided to divest itself of its coal-mining businesses. Michalski of AEP confirmed that AEP is largely getting out of the coal-mining business, though it does still have ownership in some coal reserves, such as a lignite reserve in Louisiana.