by Michael Bastasch
The Daily Caller
- Two coal industry veterans are buying shares at major utilities to save what’s left of the U.S. coal fleet.
- Former Peabody Energy executive Fred Palmer said, “There’s no guardian at the gate with coal.”
- Palmer and Steve Milloy sent their first shareholder proposal to Duke Energy on Monday.
Activist shareholders put forward a proposal that asks Duke Energy to actually lay out the costs and benefits, if any, to shareholders from global warming pledges that involve closing coal-fired power plants.
Burn More Coal is asking Duke to report the “actual benefits produced by its voluntary, highly touted and costly environmental activities,” according to its shareholder proposal filed Monday.
It’s only the first of what will likely be many shareholder proposals from Burn More Coal, according to co-founder Fred Palmer. Their goal: to preserve what’s left of the U.S. coal fleet.