The US Coal Market Has Turned Around According to Data From EIA!!!
In Nov 2012, electricity generation from coal is actually UP from the same month last year.
It went up from 121,463 GWH to 128,992 GWH, up 7,529 GWH, or +6.2%.
Mean while, generation from NG is only up from 75,442 GWH to 79,707, or up 4,265 GWH.
Coal electricity demand in Nov. 2012 was:
1. Taken away by NG by 4.265 GWH
2. Helped by nuclear outage of 7,761 GWH
3. Helped by reduced hydroelectricity (due to drought) of 1,847 GWH.
4. Helped by reduced wind power by 483 GWH.
5. Helped by increased total electricity demand by 1,428 GWH.
Combined, coal demand increased by 4,265 GWH, which is equivalent to 2.3M tons of coal.
Mean while, US coal production continue to be curtailed by 2.3M tons per week. That would be 9.86M tons curtailment for one month or 30 days.
That means we are drawing down coal stockpile down faster than last year by 12.16M tons per month. We have not counted increased exports yet. Count that in, coal stockpile is drawing down at 14.6M tons per month.
As matter of fact, US coal stockile in November 2012 alreeady dropped to the same level as Nov 2010.
Now is time to stay in the US coal sector and ride the coal cycle up!