Economy & Business

"California Said to Target Exxon in Climate Inquiry"

"California’s attorney general is investigating Exxon Mobil on whether the company lied to the public and shareholders about the risks of climate change, and whether the company’s statements over the years constitute violations of securities laws and other statutes."

Source: NY Times, 01/21/2016

"US Files Objection To Alpha Natural Resources' Executive Bonuses"

"A government watchdog agency has filed an objection to Alpha Natural Resources' proposal to pay executive bonuses of up to $11.9 million in 2016, arguing the bankrupt coal company cannot justify the additional pay at a time when it has recorded steep losses and sought to cut retiree benefits. "

Source: Casper Star-Tribune, 01/19/2016

US Pledges to Ease Pain of Closing Coal Mines in Shift to Clean Energy

"For the past five years, President Obama has denied the Republican charge that he is waging a war on coal. On Friday, with the Obama administration’s announcement that the Interior Department will halt new coal leases on public lands, Mr. Obama acknowledged that his climate change polices are hurting American miners and began offering ways to ease that economic harm."

Source: NY Times, 01/18/2016

"When A Coal Company Goes Bankrupt, Who Is Left To Clean Up The Mess?"

"The gloomier outlook for U.S. coal companies is raising questions about who will pay to clean up shuttered strip mines and open pits across coal country. With financial woes piling up for coal producers, environmental groups are warning that taxpayers could be on the hook for millions in restoration costs if mining companies can’t pick up the bill."

Source: International Business Times, 01/15/2016


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