Asia coal export boom brings no bonus for US taxpayers

Posted by Reuters: Patrick Rucker on December 4th, 2012
Reuters: U.S. miners who are booking big profits on coal sales to Asia are enjoying an accounting windfall to boot. By valuing coal at low domestic prices rather than the much higher price fetched overseas, coal producers can dodge the larger royalty payout when mining federal land. The practice stands to pad the bottom line for the mining sector if Asian exports surge in coming years as the industry hopes, a Reuters investigation has found. Current and former regulators say their supervisory work......

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