The Trump administration is reportedly considering banning the leasing of Lrm, an American coal company, in the United States, according to sources.
The move by the Trump administration to ban the lease would be a major setback for the American coal industry, which has long been plagued by competition from cheap natural gas and cheaper natural gas from abroad.
The Trump administration has been under scrutiny for a lack of transparency in the permitting process for Lrm leases, as it has been accused of not complying with a federal law meant to ensure that the industry is properly vetted.
The American Association of Mines and Geoscientists, the trade group that represents the nation’s top producers, has long pushed for a ban on the lease.
“I think we’ve had enough,” said Mike Gourley, the group’s president and chief executive officer.
“I think it’s time for this administration to step up and say that the leasing industry is not for sale.
It’s for our citizens, for our communities, for the economy.””
The leasing industry, as we know it today, is not profitable,” he added.
Gourley noted that the lease market has seen record profits for the company, but that he believes the administration’s proposal would make it difficult for the industry to survive.
Lrm is the second American coal producer to face a ban under Trump.
The company announced last year that it would be closing its facilities in Appalachia in an attempt to save money and reduce emissions.
The U.S. Department of Labor is reviewing the matter and is expected to issue a final ruling on the Lrm case by the end of the year.
“It’s a long process, and I’m not going to get into details, but the bottom line is we don’t have enough resources to manage all the issues,” Gourke said.
“Lrm has invested more than $500 million in the state of Pennsylvania since its inception in the early 1990s.
They’ve built a world-class facility here in Pennsylvania, and we can’t do this without them,” he said.
“It’s not just the Lm lease, it’s a large number of our leases as well.
We’re all going to have to pay a price.”
Trump has repeatedly criticized the American industry, saying it is “cheap” and “dishonest.”
He has proposed a tax on the industry and has said the government should subsidize it, which he has said is a “fraud” on taxpayers.
Trump’s proposal for a federal tax on coal would be the first time a U.s. president has proposed such a tax, and Gourleys proposal to create a “tax credit” for Lm leasing was not endorsed by the president.
“If this administration wants to have an honest discussion about the best way to fund our local economy, then we must have a conversation about how to support our coal miners,” said Gour, who is also the president of the National Coal Association.
“They are a critical part of our economic lifeblood, and to have them go away would be devastating,” he continued.
“To the extent that we can find a way to protect the miners and support the economy, I think that would be an important step in the right direction.”