US rejects bid to buy 167 million tons of coal on public lands for less than a penny per ton

BILLINGS, Mont. (AP) — Federal officials rejected a company's bid to acquire 167 million tons of coal on public lands in Montana for less than a penny per ton , in what would have been the biggest U.S. government coal sale in more than a decade.

The failed sale underscores a continued low appetite for coal among utilities that are turning to cheaper natural gas and renewables such as wind and solar to generate electricity. Emissions from burning coal are a leading driver of climate change, which scientists say is raising sea levels and making weather more extreme.