Until crude oil producers stop drilling wells, the price of crude oil is going to continue to crash, and until natural gas producers stop drilling wells, the price of natural gas will continue to crash, and until coal miners shut more coal mines, coal prices will continue to crash and if corn farmers don't plant less corn, corn prices will continue down (corn has dropped from $9 to $4 per bushel). MOST COMMODITIES ARE TRADING BELOW THE COST TO PRODUCE. Gregory Boyce is trying to get BTU into the black by shipping more coal. It doesn't work that way.
BTU stock price is going much lower. Other coal and natural gas and crude oil producers (and corn farmers) also, The year ahead looks very bad for any commodity holder.
Dow up 40 to new record high (S&P also). Most coal stocks down near record lows. No Santa Clauus rally for this group. NRP down at session low on high volume. Natural gas plunging.
Merry Christmas to all.
Natural gas has dropped more than 30% over the past few weeks. T. Boone Pickens was interviewed on CNBC this morning. He said that ng out of the Bakkens is already trading below $2. Looks for improvement in 12 to 18 months In the meantime, many coal companies will bankrupt. BTU will trade around $5.
Natural gas has dropped 35% over the past few weeks. It is going lower. T Boone Pickens was interviewed this morning on CNBC. He said that natural gas is currently priced below $2.00 out of the Bakkins T. Boone thinks that drilling for ng and crude will be cut back over the next 12 to 18 months. That's when he sees prices recovering. I agree with Boone. Will see big many failures in the coal business next year. NRP will cut or eliminate the distribution. Just hope that we can hold on.
Analyst on CNBC this morning can remember when oil companies paid customers to take n/g. Dennis Gartmen on CNBC's Fast Money sees a "2 handle" on n/g. We are going much lower!
Look what happened with the forecast of a few warm days! As I said, a warm winter will wipe out most coal companies. Most closed today within pennies of a record low.
Our leader has stated that his goal for his last two years is to "make life better for the American people".
Has health care, the boarder and Cuba in hand.. Next step is to destroy the coal industry (to make life better for the American People). Coal stocks will continue to see new lows in the foreseeable future.
Must admit, jrad, you have lost me with your recent posts. Assume that you think that NRP management is cooking the books. My view is more simplistic, if coal (and now crude oil) fundamentals do not improve NRP is history.
Announced today that NRP's 9.125% bonds can be bought for 97 cents on the dollar . Believe the yield is still under 10%. Guess what, you can buy the shares with a yield of MORE THAN 14%.. The bond should be trading at a much much higher discount with the share price at this level.
Could have caused some of today's NRP share movement. Big volume trades started around 3:30 and the share price dropped 25 cents. After the close, 338,000 shares traded. Twenty seven trading days till ex. Believe NRP shares will trade around this level ($10) till ex.
At 3pm, dow and S&P at record highs. Big up move for most coal stocks. Big up move for crude oil. NRP in the red and at the low of the day.
On December 16th, Corbin Robertson 111 bought another 10,000 shares of NRP. Crude oil was headed for $55 and natural gas $3.50. Gives me a little more confidence knowing that the son of the Chairman continues to buy knowing that crude and ng are tanking.