Tuesday, May 23, 2006

MINE SAFETY The overwhelming majority of mine owners are filthy rich; case in point, Massey Energy CEO Don Blankenship’s reported income last year was in the neighborhood of $13 million. That was his compensation alone and you know it doesn’t touch the tip of the profit iceberg. Here’s something for you to continue chewing on while you shake your head over Blankenship’s paycheck. The estimated cost of the new MSHA rules, which by the way were spurred on and patterned after West Virginia Gov. Joe Manchin’s plan, will cost the mining industry just under $19 million (new breathing equipment is projected at $10.5 million and training is tagged at $7.9 million). That’s right, $19 million nationwide. A small price for the Kings of Coal (and precious metals) to pay to help give those who toil for their companies a better chance to survive when things go wrong underground.

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