On Thursday, the Biden administration proposed ending new federal coal leases in the Powder River Basin – the most prolific coal mining region in the U.S. This initiative is part of efforts to reduce greenhouse gas emissions from coal combustion, aligning with environmental and public health objectives.
This proposal follows a 2022 court ruling criticizing previous land management plans under the Trump administration for not adequately addressing climate change impacts.
The immediate effects of this proposal are expected to be limited, as coal leases typically take a few years to develop, and the demand for coal is decreasing. Current leases allow coal mining to continue until 2041 in Wyoming and 2060 in Montana.
Republican lawmakers strongly opposed the proposal, arguing it threatens jobs and local economies reliant on coal production. The plan will undergo a 30-day public protest period before it can be finalized, potentially significantly altering the U.S. coal mining landscape.
For more detailed information, read the full article on AP News.
James Miller is a Senior Content Writer at McGruff.com. He has a background in investing and has spent most of his career in the financial industry. He can trace his family tree back to the California Gold Rush when his ancestors risked it all to make it big in the west. He feels like he's following in their footsteps as he strives to make sense of today's gold market.