Statement from Peabody Energy on Federal Coal Leasing Program
Thanks to Peabody's investments over time, we have more than 20 years of production through our superior Powder River Basin coal reserve position, representing long-term security of supply and a competitive strength.
Nonetheless, the Administration's actions represent poor policy and a flawed way to accomplish carbon goals. The way to a lower-carbon future is through technology, not by attempting to deprive Americans of the low cost reliable electricity that coal represents.
The federal leasing program brings enormous revenues to the federal government through a host of taxes and royalties and benefits Americans through improved family budgets and a stronger GDP thanks to abundant, low-cost coal from the Powder River Basin.