Largest Coal Producer Reaches Deal With Indiana
The country’s largest coal producer has reached a deal with three states, including Indiana, on how it plans to cover the cost of mine cleanups. Peabody Energy has filed for bankruptcy and the company has been allowed to self bond, which means it promises to pay for coal-site cleanup without actually setting aside the cash. Environmentalists are calling it a win. Environmental Law and Policy Center executive director Howard Learner says the cleanup money should not come from taxpayers. Learner says the deal Peabody reached with Indiana could see state taxpayers footing about 80-cents on the dollar to clean up the company’s coal sites. Peabody’s deal is also with Wyoming and New Mexico. So far, neighboring Illinois has not signed an agreement.
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