housing is the only other sector i can think of that has had a longer more severe run down than coal. a person might think people have to have housing. well they do but not 5 years inventory. at least the coal producers can shut down mines to control inventory.
Agreed. Furthermore unlike natural gas the rate of coal production is much easier to control. Unfortunately/Fortunately NG is usually tapped and contained in the process of oil production. NG producers can cut production, however there is always more inventory coming online that they cannot control for.