report confirms coal co.s receive massive u.s. taxpayer subsidies for mining on public lands

[xchrom]

http://www.nationofchange.org/report-confirms-coal-companies-receive-massive-us-taxpayer-subsidies-mining-public-lands-1371391838

Yesterday, the Department of Interior’s (DOI) Office of the Inspector General released a report confirming U.S. coal companies receive massive subsidies from U.S. taxpayers for mining leases on public lands. The Inspector General’s findings come on the heels of the Institute for Energy Economics & Financial Analysis 2012 report which revealed that the current Bureau of Land Management (BLM) leasing program cuts U.S. taxpayers out of billions of dollars in revenue.

Yesterday’s Inspector General report faults the BLM for failing to take into account potential profits for coal export and for failing to follow an Interior Secretary Order intended to ensure unbiased evaluations of the fair market value for federal coal.

The report explains, “Since even a 1-cent-per-ton undervaluation in the fair market value calculation for a sale can result in millions of dollars in lost revenues, correcting the identified weaknesses could produce significant returns to the government.”

[pscot]

1. Stopping the sales entirely

could result in significant returns to Planet Earth.