Reclamation

IEEFA Research

IEEFA report: California Schemin’

IEEFA report: California Schemin’

What did Occidental Petroleum know about cleanup liabilities before the CRC spin-off?

February 6, 2020 (IEEFA U.S.) ‒ California Resources Corporation (CRC), a company spun off from U.S. oil giant Occidental Petroleum six years ago, faces an elevated risk of bankruptcy that could pose significant financial risks to the state of California, according to a report released today by the Institute for Energy Economics and Financial Analysis […]

IEEFA primer: Cleanup costs supersede most other liabilities in oil and gas bankruptcies

IEEFA primer: Cleanup costs supersede most other liabilities in oil and gas bankruptcies

Companies must meet remediation duties, owners and stockholders get paid last

December 5, 2019 (IEEFA U.S.) – The Institute for Energy Economics and Financial Analysis (IEEFA) published a “primer” today – a background guide explaining what the cleanup obligations are in cases of bankruptcy by oil and gas companies. Called Cleaned Out by Bankruptcy: A Primer on Environmental Cleanup Duties, the brief notes the increasing numbers […]

The Federal Government’s Coal-Leasing Program Is Broken: Here’s How to Fix It

The Federal Government’s Coal-Leasing Program Is Broken: Here’s How to Fix It

Appoint a Price-Setting Commission; Ban Exports; Cancel Some Leases; Eliminate Self-Bonding; Mandate Set-Asides for Mine Clean-up and Miner Pensions; Require Twice-a-Year Audits; Assume Smaller Markets

It’s time for the U.S. to modernize how it manages its publicly owned coal reserves. That’s the essence of comments we’ve filed today with the Department of the Interior as it begins a review of its federal coal-leasing program in the Powder River Basin, a program that has been mismanaged for years at taxpayer expense […]

More News and Commentary

Dominion, Nature Conservancy to convert land at former Virginia coal mine to solar farm

EnergyWire ($): Virginia’s largest electric utility and a global conservation group have announced plans to convert former coal mines into a solar farm, adding to a growing number of projects across the country aimed at repurposing old fossil fuel sites. Dominion Energy Virginia and the Nature Conservancy said yesterday they will redevelop 1,200 acres of […]

September 14, 2021 Read More →

Retirements to cut US coal plants by half of 2015 levels within 15 years

S&P Global Market Intelligence ($): Based on already planned and announced retirements, less than half of the U.S. coal-fired power generation capacity that existed at the start of 2015 will remain online by 2035, a new S&P Global Market Intelligence analysis shows. Utilities are rapidly closing coal-fired power plants, and while 2020 and 2021 offer […]

August 2, 2021 Read More →
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IEEFA U.S.: ‘New Promise Act’ would help communities transition from coal-based economy

O’Halleran legislation aims to cushion economic losses caused by plant closures

April 2, 2021 (IEEFA) — The recently introduced New Promise Act, sponsored by Rep. Tom O’Halleran, D-Ariz., marks a potentially important step forward in recognizing the need for a federal commitment to economic revitalization in communities that have been hard-hit by the decline of the coal economy. The bill, inspired by the closure of the […]

IEEFA Energy Finance Conference 2020: Coal, LNG, petrochemical sectors face poor outlook and uphill battle for investors

Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic

Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference. The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, […]

July 24, 2020 Read More →
IEEFA report: California Schemin’
and

IEEFA report: California Schemin’

What did Occidental Petroleum know about cleanup liabilities before the CRC spin-off?

February 6, 2020 (IEEFA U.S.) ‒ California Resources Corporation (CRC), a company spun off from U.S. oil giant Occidental Petroleum six years ago, faces an elevated risk of bankruptcy that could pose significant financial risks to the state of California, according to a report released today by the Institute for Energy Economics and Financial Analysis […]

IEEFA primer: Cleanup costs supersede most other liabilities in oil and gas bankruptcies
and

IEEFA primer: Cleanup costs supersede most other liabilities in oil and gas bankruptcies

Companies must meet remediation duties, owners and stockholders get paid last

December 5, 2019 (IEEFA U.S.) – The Institute for Energy Economics and Financial Analysis (IEEFA) published a “primer” today – a background guide explaining what the cleanup obligations are in cases of bankruptcy by oil and gas companies. Called Cleaned Out by Bankruptcy: A Primer on Environmental Cleanup Duties, the brief notes the increasing numbers […]

Mine closures in Wyoming cause hundreds of layoffs

Casper Star Tribune: A Powder River Basin coal mine suddenly ceased operations and sent about 300 workers — a majority from Wyoming — home indefinitely Thursday, over permit disagreements between Montana’s Department of Environmental Quality and the mine’s new owner. Out-of-state coal firm Navajo Transitional Energy Company (NTEC) recently assumed ownership of the Spring Creek […]

October 25, 2019 Read More →

Contura tries again to offload Powder River Basin coal assets

Casper Star Tribune: Coal company Contura Energy announced Wednesday it had reached a tentative deal with FM Coal to transfer ownership of two idling Wyoming coal mines, the latest development in a bankruptcy case that has rattled coal country for months. The agreement hinges on approval of a federal bankruptcy court and the board of […]

September 19, 2019 Read More →
IEEFA U.S.: Peabody abandons longtime Native American workforce before reclamation of Kayenta coal complex in Arizona
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IEEFA U.S.: Peabody abandons longtime Native American workforce before reclamation of Kayenta coal complex in Arizona

Hundreds laid off with plans to replace employees with lower-paid contractors

Aug. 5, 2019 (IEEFA U.S.) — As Peabody Energy ceases production this month at the Kayenta Mine complex in northern Arizona, the company plans to abandon its long-time workforce even as it faces a vast amount of reclamation responsibility in the area. The company is abruptly discarding some 300 mine-complex employees this month, according to a […]

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IEEFA U.S.: Post-coal cleanup could be a job-creating lifeline for Colstrip, similar communities

‘Doing It Right’ template in Montana has regional, national applications

A federal court ruling last week will likely result in stricter standards for wastewater released by coal plants and is just the latest reminder of the workforce requirements that will be an offshoot of the massive cleanup still to come across the industry. The ruling “dealt a fresh blow to the operators of coal-fired power […]