BLM 'Auctions' 720-Million-Ton North ...

BLM 'Auctions' 720-Million-Ton North Porcupine Coal Tract ...

There are 2 comments on the ThinkProgress story from Jun 29, 2012, titled BLM 'Auctions' 720-Million-Ton North Porcupine Coal Tract .... In it, ThinkProgress reports that:

The Obama administration's Bureau of Land Management auctioned a major tract of Wyoming coal to Peabody Energy at a bargain-basement price of $1.10 per ton yesterday.

Join the discussion below, or Read more at ThinkProgress.

“Happy, warm and comfortable”

Since: Oct 10

Mountain retreat, SE Spain

#1 Jun 30, 2012
That'll really cheer Nauseous up.

Toronto, Canada

#3 Jul 15, 2012
litesong wrote:
the single bidder, Peabody subsidiary BPU Western Resources
Peabody, the largest coal company in the world, gets richer & richer, probably by scaring off any other bidders.
All major corporations today are becoming market monopolies, driving down what they pay to suppliers, and driving up the cost the consumer pays. It makes them able to contribute millions to political parties in exchange for 'backroom deals'.

Exactly the opposite of 'free markets' espoused by Adam Smith in 'The Wealth of Nations'. To have free market ideals, one has to have a strong MIDDLE CLASS with many producers, many consumers and low barriers to entry for those wanting to get into the game. Exaclty the OPPOSITE of the US today.

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