A History of Mistrust
Peabody Energy Company – A History of Mistrust The Navajo Nation needs to secure what is already on the table from Navajo Generating Station owners and walk away and let NGS close. We would then take possession of the $168 million cash and $244 million in additional assets for total of more than $412 MILLION DOLLARS. The Navajo Nation needs to approach this opportunity the same way they were able to access the $217 million in taxes that was in escrow during the Kerr-McGee vs. Navajo Nation lawsuit that took place in 1984. Kerr-McGee sued the Navajo Nation for imposing taxes on natural resources like coal, oil and gas. Kerr-McGee asserted that the tribes needed the approval of the Secretary of the Interior.
The Supreme Court, with a vote of 9-0, held that Indian tribes could impose taxes on non-tribal persons doing business on their lands. At the time Peabody Coal Company, Arizona Public Service, Salt River Project and others supported Kerr-McGee. History shows that these entities are not our friends but only looking for their own interests.
The forward thinking leadership team of leadership of the Navajo President and Council Delegates were deliberate in their fiduciary responsibilities and invested the funds for the benefit of future generations; the $217 Million were wisely placed into 7 trusts accounts that have accrued to a present 3.2 BILLION DOLLARS. There are more millions to be made from access to the 500 megawatts of existing transmission lines and the 1,500 acre feet per year of NGS water, as well as the 950 acre feet per year water for the Le Chee Chapter.
With these assets we can build a better future for the Navajo people. The Navajo Nation needs to take what is already on the table and walk away from NGS, rather than foolishly gamble that coal powered energy generation has any long term future in the 21st century.