Word: coaling
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Dates: during 1980-1989
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...economy are hardly unique. All industrial nations are struggling with the onrush of technology and the painful transition from the past to the future. Western Europe is having a particularly difficult time moving toward the New Economy. In most European countries, many heavy industries like steel and coal mining are nationalized. Political pressure has made it difficult for governments to shrink these industries and move workers into new fields. In addition, European workers are much less willing than Americans to pick up and move to a new location. European governments have also made it very expensive to close down...
...many people in America have heard of, let alone seen, the work of Ottone Rosai (1895-1957), a Florentine painter whose roly-poly figures were part of a conservative reaction against Italian futurism in the 1920s? Chia has, and his rotund bodies-thighs like boiled ham, buttocks like bumps, coal-heaver arms-are straight out of Rosai, though bigger and endowed with a crustier decorative surface...
...page study, issued after an eight-month investigation, focuses on the April 28, 1982, auction of leases to 13 tracts in the prized Powder River Basin area. Interior officials say the sale, involving more than 21,000 acres" and 1.6 billion tons of coal, was the largest in the nation's history...
...millions of dollars more in future royalties. But the House report charges the base price is $60 million less than the committee investigators feel the properties are worth. Moreover, says the report, "such large-scale leasing under poor economic conditions distorts the market by flooding it with leased coal." In sometimes acrimonious testimony before the committee's Interior Subcommittee, Garrey Carruthers, Assistant Secretary for Land and Water Resources, maintained that the sale brought the Government $11 million more than the department's original $55 million estimate. The congressional report is "a poorly prepared and deceitful political document...
...fact, fair market value, the crux of the issue, is virtually impossible to calculate. The Government, which owns an estimated 34% of the nation's 475-billion-ton coal reserve, has routinely leased public land for coal extraction since 1920. In 1971, in order to evaluate its procedures, the Government declared a moratorium on federal coal leases. The hiatus, which did not end until 1981, effectively froze the market for coal leases, making future evaluations of tracts difficult. A 1976 reform requiring new leaseholders to mine their fields within ten years or forfeit their rights further complicated the mathematics...