ADVFN - Advanced Financial Network.
HOME» NYSE » C » CNX Stock Price » CNX Stock News

Cons Energy Share News

 Consol Energy Stock Price
CNX Stock Price
 Consol Energy Stock Chart
CNX Stock Chart
 Consol Energy Stock News
CNX Stock News
 Consol Energy Company Information
CNX Company Information
 Consol Energy Stock Trades
CNX Stock Trades

Coal Firms Lose Bid To Recover Money Used To Restore Old Mines

By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Coal companies appear to have lost a lengthy legal battle to try to recover millions of dollars paid to the federal government to clean up abandoned mines. Earlier this week, the U.S. Supreme Court declined to hear an appeal from Consol Energy Inc. (CNX) and about 70 other coal companies trying to reclaim fees paid to the government under the Abandoned Mine Lands Reclamation Fund. This is a fund that finances the cleanup of mines that were in operation before Congress passed federal mining laws in 1977. The Supreme Court's move marks a big win for state and federal governments, which would have been forced to scrap hundreds of restoration projects if the coal companies had won their challenge, Office of Surface Mining Director Joe Pizarchik said in a statement to Dow Jones Newswires. By declining to review Consol Energy's appeal, the Supreme Court has also most likely doomed nearly a dozen other lawsuits filed by coal companies seeking similar refunds. "Based on past court proceedings, [Interior Department] officials anticipate one of two possibilities: either the cases will be voluntarily dropped by the plaintiffs or they will be addressed on a motion for summary judgment," Pizarchik said, referring to court filings that ask a judge to end a lawsuit. A spokeswoman for Consol Energy was unavailable to comment. Attorneys for the company declined to comment. Among the other companies involved in the suit were subsidiaries of Patriot Coal Corp. (PCX) and Alpha Natural Resources Inc. (ANR). Consol Energy filed its lawsuit in 2001. It argued that the federal government acted illegally when it charged fees on coal being exported--as opposed to just coal sold in the U.S. They said the government was violating the constitutional ban on export taxes and sought compensation for fees already paid on exported coal. A lower court disagreed, saying the government could apply the fee to every ton of coal taken from the ground, regardless of where it was being shipped or sold. The Supreme Court's decision to deny a review of the case means the lower court's ruling stands. The federal government currently charges a fee worth 31.5 cents for every ton of coal taken from a surface mine and 13.5 cents for every ton taken from an underground mine, according to the Office of Surface Mining. Beginning in 2013, the fee falls by a few cents. In 2010, the U.S. government collected $254 million in fees and then distributed the money to Pennsylvania, Kentucky and several other coal-producing states. The money is used to repair open mine shafts, reduce harm from mine gases and clean up streams polluted by acid mine drainage, among other measures, the office says. "Going forward, states and tribes can rest assured that [abandoned mine lands] money will be available to reclaim those mine sites," Pizarchik said. -By Tennille Tracy, Dow Jones Newswires; 202-862-6619;

Stock News for Cons Energy (CNX)
03/17/201706:45:00CONSOL Energy to Participate at the Scotia Howard Weil 45th Annual...
03/08/201716:10:00CNX Coal Resources Announces 2016 K-1 Tax Package Availability
02/24/201717:07:47Amended Statement of Beneficial Ownership (sc 13d/a)
02/16/201706:45:00CONE Midstream Reports Fourth Quarter and Full Year 2016 Results...
02/15/201718:04:18Amended Statement of Changes in Beneficial Ownership (4/a)
02/15/201718:01:05Amended Statement of Changes in Beneficial Ownership (4/a)
02/14/201717:53:58Amended Statement of Ownership (sc 13g/a)
02/13/201717:33:06Statement of Changes in Beneficial Ownership (4)
02/10/201710:32:55Amended Statement of Ownership (sc 13g/a)
02/10/201706:30:22Amended Statement of Ownership (sc 13g/a)
02/08/201711:58:38Annual Report (10-k)
02/08/201706:45:00CONSOL Energy Announces 11% Increase in Proved Reserves to 6.3...
02/07/201716:21:36Amended Statement of Ownership (sc 13g/a)
02/07/201712:58:07Amended Statement of Ownership (sc 13g/a)
02/06/201717:06:41Statement of Changes in Beneficial Ownership (4)
02/06/201717:05:49Statement of Changes in Beneficial Ownership (4)
02/01/201718:48:32Statement of Changes in Beneficial Ownership (4)
02/01/201718:48:05Statement of Changes in Beneficial Ownership (4)
02/01/201718:48:05Statement of Changes in Beneficial Ownership (4)
02/01/201718:46:15Statement of Changes in Beneficial Ownership (4)

Cons Energy and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations