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Showing posts with label self-bonding. Show all posts
Showing posts with label self-bonding. Show all posts
Wednesday, December 9, 2015
Coal industry could leave U.S. taxpayers with major bill -Jewell
U.S. taxpayers could be left with multibillion-dollar liabilities if large coal companies are pushed to bankruptcy, the Interior Department Secretary said on Wednesday.
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At issue is a practice known as self-bonding, allowed under a decades-old mining program, in which some of the country's biggest coal companies forego insurance on a portion of future mine cleanup costs.
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Labels:
bankruptcy,
coal,
liability,
self-bonding,
taxpayers
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