Matthew Adams is a perfect example of what NTEC is and is not. He is not Native American, and he lives in Denver, Colorado, about as far away from the Navajo Reservation as Big Sandy in the other direction. He got his job when the company he worked for, Cloud Energy, went bankrupt and was bought out by NTEC.
NTEC is mostly coal mining. As Adams testified, it is the third largest coal producer in the United States. Through coal, it is a cash cow for the Navajo Nation, which as a sovereign government does not pay federal or state income tax on its mining profits. Navajo elected officials are not coal miners, so the let NTEC conduct its business how they choose.
NTEC is mostly not Native American. “Of our almost 1,400 employees, 354 voluntarily identified as Native American – including 318 Navajo employees.”
The Navajo Nation is on record opposing Big Sandy. That has not changed. If BLM or the Hualapai Nation has changed its views on AZL because a company mostly run by non-Native Americans has agreed to help them with permits, they are doing a great job of keeping it a secret a year later. Most Americans recognize it for what it is: tokenism. Investors can do their own research and decide who is posting balderdash.
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Price($) | Vol. | No. |
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