Rhino Resource Partners LP Message Board
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Will Obama succeed in killing the coal industry?
That's the question if one invests in coal. I am not sure, but he certainly can keep it on it's death bed. I went long when I thought Romney might win. Should have sold election day when I saw the exit polls I guess. Been a costly mistake on my part.
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Staying out of the politics. RNO is heavily into Met coal. That has nothing to do with Obama and the EPA, only the economy. Second, the US is set to export more and more coal to Asia. They don't care much about pollution (their air simply blows to the US!) and are happy to buy our cheap coal. Last, steam coal in WVa etc. is dying as all the cheap mining was done 50 years ago. illinois and the West hold huge reserves and by 2015 we will have $5 NG so utilities not likely to cut below about 30% of generation by coal. The older plants are either gone or going this year. We are at the bottom both economically and politically for coal. People also forget RNO is a partner with GPOR in the Utica for oil/NG/NGLs.
- 1 Reply to arbtrdr
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thanks for that, arb
i too believe we're seeing the worst of coal and future looks brighter... i also think RNO has some things going for it that people don't see... the Utica shale coinvestiment with GPOR is one such thing... the other is... RNO is probably in good position to take over their JV with now BK Patriot coal on attractive terms... which would be a big plus to tons/revenues
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You, me and a lot of folks did the same. I'm surprised the coal unions aren't marching on the Whitehouse. BO is supposed to be pro-unions. #$%$?
Sentiment: Hold
- 1 Reply to v.reefer
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The blind fools voted for him and worship him even as he kills their industry and jobs.
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