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Company bids less than a penny per ton in biggest US coal sale in over a decade
Navajo Transitional Energy Co. bid less than one cent per ton for 167 million tons of coal reflecting declining demand as utilities shift to natural gas and renewables, analysts said.
- A Navajo tribe-owned company bid $186,000, less than a penny per ton, to lease 167 million tons of coal in Montana, the biggest U.S. coal sale in over a decade.
- The sale is going forward despite the government shutdown, as the Trump administration did not furlough workers responsible for reviewing fossil fuel projects.
- Economists say new coal plants are unlikely to be built despite Trump's push for coal, meaning much of the sold coal may never be mined.
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Tulsa World+2 Reposted by 2 other sources
Company bids $186K for 167M tons of coal
BILLINGS, Mont. — A Navajo tribe-owned company bid $186,000 to lease 167 million tons of coal on federal lands in southeastern Montana on Monday in the biggest U.S. coal sale in more than a decade.
·Tulsa, United States
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Coverage Details
Total News Sources29
Leaning Left9Leaning Right2Center11Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 41%
C 50%
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