Matt Ridley Fires Off About Coal Fortune

authordefault
on

I have declared my interest in the coal mining on my family’s land whenever and wherever relevant both in my writing and in Parliament.

“However, I generally argue in favour of gas, which is coal’s main competitor, and do not argue directly in favour of the coal industry. There is a long and proud tradition of coal mining in the North- east of England.

“The coal under my family’s land belongs to the state, being nationalized, so royalties go to the government, not the landowner. Only part of the coal mining operated by the Banks Group at the Shotton and Brenkley mines is on my family’s land.

“I consider the mining operation an excellent local employer, which provides affordable energy to UK industry and electricity consumers, without subsidy, and in a situation where the UK imports the majority of the coal it burns.

“It also contributes generous taxes as well as funding welcome environmental benefits and numerous community projects.

“I receive no financial benefit other than a wayleave in exchange for providing access to the land. The details are commercially confidential, but the wayleave is very small indeed in relation to the value of the coal mined from my family’s land. 

“It is partly shared with local residents and the remainder, after paying tax, is almost entirely reinvested in the maintenance and improvement of the property. The coal industry has never tried to influence my views on climate science or policy.”

Matt Ridley

authordefault

Related Posts

on

NextDecade, a company hoping to build an $11 billion LNG project in south Texas, submitted letters to FERC on behalf of nearly two dozen public officials.

NextDecade, a company hoping to build an $11 billion LNG project in south Texas, submitted letters to FERC on behalf of nearly two dozen public officials.
on

The latest vote was postponed after state senators considered shoring up the budget with a natural gas tax.

The latest vote was postponed after state senators considered shoring up the budget with a natural gas tax.
Opinion
on

The amount and scale of new pipelines envisioned to transport CO2 to planned carbon storage sites is hard to fathom — let alone the environmental justice impacts they foretell.

The amount and scale of new pipelines envisioned to transport CO2 to planned carbon storage sites is hard to fathom — let alone the environmental justice impacts they foretell.
on

Seven years after Fort McMurray inferno, John Vaillant sees ‘almost identical’ conditions and laments ‘avoidable’ blazes to come.

Seven years after Fort McMurray inferno, John Vaillant sees ‘almost identical’ conditions and laments ‘avoidable’ blazes to come.