This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mont. Land Board Shrugs Off Coal Protest's Request

MATT GOURAS

HELENA, Mont. (AP) â¿¿ The weeklong coal protest that wraps up Monday at Montana's Capitol doesn't seem to be having much impact on the state officials in charge of leasing the state's resources for development.

The protesters generally oppose coal development, but specifically want the Land Board to reject development of the massive Otter Creek coal tracts despised by environmentalists who argue its use will irrevocably harm the environment.

The board of five statewide elected officials decided in a split 2010 vote to lease the coal to St. Louis-based Arch Coal Inc. for $86 million up front â¿¿ and much more once the coal is mined. That vote came after protesters were taken out of the room in handcuffs.

As far as Gov. Brian Schweitzer is concerned, the issue is settled.

"Is what they are asking me, is to give Arch Coal their $86 million back?" said Schweitzer, who chairs the Land Board and leaves office at year's end. "The Land Board has made its decision."

The governor said he advises coal opponents that the resource will still be mined from somewhere if Montana doesn't supply it. He argues Montana, which stands to get billions if fully developed, should profit as long as coal is used for a fuel source.

"There are boilers being built all over the world that will be burn coal for the next 30 years," Schweitzer said. "Should we just stand back and watch our competitors supply that coal?"

The Land Board earlier this month moved ahead with another coal deal that would expand the Bull Mountain Mine, despite opposition from protest organizers with the Missoula-based Blue Skies Campaign. The group said its larger request is for the state to reject the much more massive Otter Creek project.

Schweitzer's successors, and others elected to the so-called Land Board seats, could have another whack at Otter Creek â¿¿ but it appears unlikely the board will change its mind.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs