United Coal Company

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United Management Company, LLC is invested in oil, gas, power generation, industrial parts distribution, golf and finance and maintains the publicly traded UC Investment Fund (UCIFX).[1] United Coal Company ("UCC"), a nonunion coal mining company headquartered in Teays Valley, West Virginia, is a leading producer of high grade metallurgical coals, with operations in Virginia, West Virginia and Kentucky and a subsidiary of the United Management Company, LLC, headquartered at Bristol, Virginia.

United in 2006 allowed former King Pharmaceuticals executives John M. Gregory and Joseph "Joe" Gregory of Bristol, Tennessee and of SJ Investments, LLC and Gregory Energy Partners, LLC to invest in the company. The Gregory brothers are its first investors outside the McGlothlin family.[2]

Executives of the company are listed among the contributors to the United Company Political Action Committee.[3]

Contents

[edit] United Coal Company

Throughout its more than thirty five year history, the UCC has had a track record of producing high, medium and low volatile coking coals and serving coking coal customers both domestically and worldwide.

[edit] United Coal holdings

[edit] Founder, James W. "Jim" McGlothlin

In 1970, Jim McGolthin (a legal resident of Austin, Texas), along with his father Woodrow W. McGlothlin (who started the Diamond Smokeless Coal Co. in the mid-1950s) and five other investors, founded the United Coal Company in Bristol, Virginia. McGlothlin first sold UCC in 1997 and later repurchased the company in 2004. The McGlothlins also founded The McGlothlin Foundation, which funds a variety of education-related causes in Southwest Virginia.

[edit] The 2006 "McGlothlin Energy Policy"

While speaking at the industry-sponsored 2006 Virginia Coal Conference held at the Meadowview Convention Center in Kinsport, Tennessee, McGlothlin described the United States energy policy as being "America's Achilles heel" and compromising national economic independence due to both losing manufacturing jobs to relaxed labor, environmental, and saftety costs in China and to America being energy dependent upon Islamic nations "with the most extreme and hostile people on earth."

McGlothlin laid out the following framework of his self-described "McGlothlin Energy Policy" during the 2006 Virginia Coal Conference[4]:

  • implementing a nationwide U.S. blue law prohibiting work on Sundays except for truly vital businesses and industry;
  • imposing an additional federal gas tax of $1 more per gallon on fuel sold om Sundays and Mondays to curb "weekend driving larks";
  • requiring every vehicle to get at least 30 miles per gallon within five years;
  • expanding the federal government by creating a U.S. Office of Nuclear Power Production ;
  • expediting the construction of new nuclear power plants across the United States;
  • preserving natural gas reserves "for the long haul" and;
  • banning the use of natural gas for power production in the United States;
  • federal subsidizing coal-to-liquid fuel plants [through government loans and tax assistance];
  • passing federal legislation guaranteeing a minimum floor price $55 per barrel for coal-to-liquid fuels, and;
  • placing tariffs on stocks of imported crude oil arriving in the United States.

[edit] 2007 coal-to-gas subsidy legislation before the U.S. Congress

House Bill # Title

  • H.R. 370 Coal-to-Liquid Fuel Promotion Act of 2007
  • H.R. 683 Investment in Energy Independence Act of 2006
  • H.R. 1300 Program for Real Energy Security Act
  • H.R. 2208 Coal Liquid Fuel Act
  • H.R. 2354 American Fuels Act of 2007

Senate Bill # Title

  • S. 133 American Fuels Act of 2007
  • S. 154 Coal-to-Liquid Fuel Energy Act of 2007
  • S. 155 Coal-to-Liquid Fuel Energy Act of 2007
  • S. 1158 Alternative Fuel Standard Act of 2007
  • S. 1503 Gas Petroleum Refiner Improvement and Community Empowerment Act

[edit] References

  1. ^ Eastern Coal Council. August 15, 2006 newsletter.
  2. ^ PRN Newswire. "United Coal Company Has New Investors".
  3. ^ Federal Election Commission
  4. ^ U.K. National Union of Mineworkers. "Coal Conference Speakers Say End Dependence On Foreign Oil".

[edit] See also

[edit] External links