Friday, March 14, 2014

Coal Companies Get Hit Where It Counts for Polluting Appalachian Water Supplies

Price chart for Alpha Natural Resources, Inc.. (Credit: Google Finance - Yahoo Finance - MSN Money) Click to enlarge.
Alpha Natural Resources, Inc.’s coal mining operations have been ruining the rivers and water supplies of Appalachian communities since 2006, and probably a lot longer than that.  That could soon come to an end, however:  The federal government just slapped the company with one of the largest fines ever levied under the Clean Water Act, and handed it strict orders to clean up its business.

According to a consent decree handed down by the Department of Justice this week, Alpha has illegally dumped coal waste into waterways over 6,200 times.  The problem was systemic, to say the least:  These violations occurred at close to 80 different facilities across five states along the Appalachian Mountains, all under the direction of Alpha Natural Resources, which is the second largest coal producer in the nation. 
The fines, levied by the Environmental Protection Agency, will collectively cost Alpha roughly $27 million. 

The consent decree requires the company to spend an additional $200 million for cleanup and equipment upgrades.  And that’s gonna hurt.  Alpha hasn’t turned a profit for its coal work since July of last year, and has been running a steep deficit ever since.

Coal Companies Get Hit Where It Counts for Polluting Appalachian Water Supplies

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