Ed Markey: “the coal under our Federal public lands is a tremendously valuable asset that belongs to the American people. For nearly…”

“the coal under our Federal public lands is a tremendously valuable asset that belongs to the American people. For nearly my entire career in Congress, I have been working to ensure that we do not shortchange taxpayers by giving this asset away to the coal companies for bargain-basement prices. As we are facing Federal deficits and budget cuts for programs that benefit hard-working, middle-class families, we need to ensure more than ever that we are not giving a windfall to coal companies on the backs of taxpayers in Massachusetts and across the Nation by selling this public coal for less than it is worth. In 1982, following coal lease sales by the Department of the Interior on public lands in the Powder River Basin, PRB, in Wyoming and Montana, I asked the Government Accountability Office, GAO, to investigate whether taxpayers had received a proper return in these lease sales. The GAO found that this Federal coal was sold for pennies on the dollar. The GAO report concluded that the Interior Department had sold this public coal in the Powder River Basin for $100 million less than it was worth. Following that revelation, there were a number of recommendations made to reform the Federal coal leasing program and ensure that taxpayers were protected. Unfortunately, I have concerns that similar problems with the Federal coal program may persist today at the expense of taxpayers in Massachusetts and around the country.…”