THE NEW REPUBLIC: For Fossil Fuel Companies, Bankruptcy Is a Bailout
The New Republic’s recent article about coal bankruptcy discusses the ability of coal companies to offset liabilities and skirt obligations, leaving local communities the bear the burden of environmental violations and job losses.
Deputy Director Mary Cromer’s presentation at the recent IEEFA Energy Finance 2020 was featured in the article:
“Bankruptcy also creates low-regulation buying opportunities for other firms. Blackjewel, for example, before filing for bankruptcy itself, had collected 71 percent of its mining permits by snapping up the assets of other bankrupted coal companies, Mary Varson Cromer, deputy director of the Appalachian Citizens Law Center, pointed out in a webinar on Tuesday organized by the Institute for Energy Economics and Financial Analysis.”
