And coal plant after coal plant is getting closed down
Coal generated power is on a slow slide down the hill.Obama is putting the grease on the slides.Look at total coal plants scheduled for closure in the USA and see the writing on the wall.Even the oil company execs don't think ng prices will go up much this year and they have a stake in it.
Do you know how long these plants have been scheduled for shutdown? Way before Obama! Oil companies own NG and they know power companies are not going to build new coal fired plants while NG is so cheap. They'll sucker in the utilities....then BOOM.....they'll make a killing on NG!
Your right, coal is dead for any sort of recovery BECAUSE THATS HOW THEY WANT IT TO BE, not because nat gas is going to be cheaper, thats my point. You have oil companies pushing nat gas because they can control costs. Point being that nat gas prices will go sky high no matter how much this country is over supplied, they aren't going to supply it cheap. Coal is dirty, coal is basically dead, but coal is still going to be cheaper than nat gas.
Your right, natural gas prices won't go up much THIS YEAR. Wait until these power plants switch over. By that time natural gas prices will shoot through the roof, they will find that coal is still the cheapest way to go, and they will be scratching there heads wondering what they were thinking?
Not just in this country but all over the planet shale gas/oil fields are being found.Lots of shale gas is being flared and wasted due to no transport capabilities.The epa is putting regs in place to stop the unnecessary flaring.You are going to have an oversupply of ng for quite a while.Coal is dead for any sort of a recovery.You are living and thinking in the low ng production past.