Press Releases
Dingell Statement on Alpha Natural Resources Bankruptcy
Dearborn, MI,
August 3, 2015
Congresswoman Debbie Dingell (MI-12), ranking member of the House Natural Resources Subcommittee on Oversight and Investigations, issued the following statement after Alpha Natural Resources, one of the four largest coal companies in the country, filed for chapter 11 bankruptcy, highlighting the risks to taxpayers of future mine cleanup costs resulting from companies defaulting on self-insured performance bonds. “The bankruptcy is exactly what we've feared for months. Coal companies with weak balance sheets – no matter how large they are – should not be allowed to self-bond for projects on federal lands. Taxpayers deserve to know they won't be left on the hook for billions in cleanup costs if a big miner goes bust.” In June, Dingell warned of consequences of self-bonding by financially distressed coal producers at an Oversight and Investigations Subcommittee hearing and wrote to Chairman Louie Gohmert (TX-01) seeking a bipartisan investigation. The letter can be read here. |