The lyrics attribute the destruction of Paradise to the Peabody company, referring to the fact that the town was a site for strip mining.
ðə lˈɪɹɪks ˈætɹɪbjˌuːt ðə dᵻstɹˈʌkʃən ʌv pˈæɹədˌaɪs tə ðə pˈiːbɑːdi kˈʌmpəni, ɹᵻfˈɜːɹɪŋ tə ðə fˈækt ðætðə tˈaʊn wʌzɐ sˈaɪt fɔːɹ stɹˈɪp mˈaɪnɪŋ.