It’s a tough time to be in the fossil fuels business. Three of the four largest U.S. coal companies are bankrupt. More than 70 small oil and gas producers have folded since 2014, when oil prices began to collapse, and bigger drillers such as SandRidge Energy Inc. have started to join them.
Then SunEdison Inc. filed for Chapter 11 protection last month, and it became clear that bankruptcies aren’t just a fossil fuel problem. They’re afflicting renewable energy, too. While each company’s management miscues and set of circumstances color the story of its path to bankruptcy, for all of them, recovering from the corporate punch to the gut means reimagining the future of coal, oil, gas and solar power.
What kind of future should a bankrupt company prepare for?
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