Tell Secretary Jewell: Make Coal Companies Clean Up After Themselves
The world’s largest private coal company, Peabody Coal, just went bankrupt. Given what coal has done to our climate you might feel like celebrating — but don’t. It turns out that due to a massive loophole called “self-bonding”, when coal companies like Peabody go bankrupt they don’t have to pay for any of the cleanup of the massive coal mines they leave in their wake. If they decide they can’t afford it, WE pay instead.
The Secretary of the Interior can fix this mess by simply eliminating that loophole. Let’s change it now, before a coming wave of coal bankruptcies leaves lots more cleanups in our lap.