The New York Times reports that shareholders of Massey Energy have reached an agreement to sell Massey to Alpha Energy.
- Massey Execs will keep their jobs
- An official investigation into the accident by a panel appointed by the former governor of West Virginia blamed Massey’s management for the Upper Big Branch accident, saying it had “operated its mines in a profoundly reckless manner.”J. Davitt McAteer, the former federal mine safety chief who led the West Virginia inquiry, said in an interview that retaining senior Massey executives “certainly doesn’t help make a dramatic and abrupt change in safety culture.”
“The question for the new owners,” he added, “is where is the strong message that this heralds a new day in mine safety and health?”
Massey executives have long argued that the explosion was caused by a natural large methane release into the mine chamber, not bad safety procedures.