Will taxpayers foot the cleanup bill for bankrupt coal companies?

Will taxpayers foot the cleanup bill for bankrupt coal companies?

Patrick McGinley, West Virginia University

Coal’s share of the U.S. energy market is rapidly plunging. Low-cost fracking-generated natural gas has overtaken the use of coal at America’s power plants. Impending implementation of the Obama administration’s proposed Clean Power Plan, which would place stringent regulations on coal-fired power plant emissions, has also helped to drive coal production to its lowest level in decades. Government sources predict further decline.

Fifty U.S. coal companies have filed for bankruptcy since 2012. Competition and more stringent environmental regulations played a role in this decline. But, just before coal prices collapsed, speculating top producers...