RSS Feed
Reuters: Federal auditors should examine a program that has allowed leading coal companies to lower cleanup insurance costs and could leave taxpayers on the hook if the miners declare bankruptcy, Democratic lawmakers said on Tuesday.
Coal companies are responsible for spent mines and they typically use cash, bonds or other financing to cover future cleanup costs.
But some of the largest producers use self bonds, which are not backed by concrete collateral, to insure such costs. Regulators worry those......
Read Complete Article at Water Conserve: Water Conservation RSS News Feed
US lawmakers seek independent review coal cleanup subsidy
Posted by Washington Post: Juliet Eilperin on March 8th, 2016
Posted in Water Conservation