Dow down 130. Most coal company shares at record lows again. NRP down on above average volume. Twenty five trading days till ex. Natural gas up 3 cents.
Happy that ANR is closing mines in Appalachia. Every ton of coal shipped from Appalachia is shipped at a huge loss.
Please remind us just what we are lined up to export! Coal is about the only thing left. There is some wheat and corn, but we blow up a few storage bins each year with wheat and corn dust.
All coal socks that I follow except NRP hit new lows today (BTU, ACI, ANR, WLT and CLF). Some of the analysts are now calling it tax loss selling. Most analysts expecting no improvement in coal fundamentals until 2015.
Big move up today in natural gas. Don't know why. Good for thermal coal.
Believe Mr Cline also recently "secured control over 480 mt of permitted coal in Canada". Don't know what that means, but obviously Cris Cline still likes coal. (Corbin Robertson too).
Will NRP cut the next distribution???. If lessees are now shutting NRP mines, NRP SHOULD CUT THE DISTRIBUTION NOW. Corbin Robertson is a razor sharp CEO. He will cut the distribution soon. NRP shares will trade below $10. before year end. That will be the time to buy.
EVERY TON OF COAL SHIPPED TODAY IS SHIPPED AT A LOSS. COAL COMPANY SHARES WILL CONTINUE TO SEE MASSIVE LOSSES IN Q4. Time for Gregory Boyce to stop begging and get tough.
Will hold for $15 till a few days before ex. Will unload then at any price. Before if they cut the distribution. Have a ton of shares that I will continue to hold..
By the year 2050, there will be 9 billion inhabitants on earth. We will burn NO coal in the US. Coal use world wide will double. Should mention also that the cost of energy in the US will skyrocket. My rate in NC increased 4.5% a few months ago. Duke energy is applying for another 7.5% increase right now. Two years ago they built 6 new natural gas plants to replace coal fired ones.
My 35 year forecast is probably better than the global warming goonies forecast about the warming of the earth.. These crack science majors also predicted that 2014 would be a very bad hurricane year..
ACI now below $2,. ANR and WLT a few pennies above $2, and BTU back below $12. A few years ago Obama promised no new generating plants using coal. Over the week end Charlie Rose interviewed EPA Chair. She said that ALL generating plants using coal will disappear by 2050. Since Obama and the EPA declared war on coal, shares of most coal companies are down 90% and more. Coal company CEOs WILL NEVER HAVE MORE CLOUT IN THE US THAN RIGHT NOW. Every day coal consumption is cut in this country. BTU shares will continue to crash. Need to remind you that when the $2 per share coal companies bankrupt, they don't go out of business. they wipe out the debt and continue to compete with BTU..
With ACI, ANR and WLT trading near $2 ANR's CEO is stating what the market has already recognized. Just seems to me that most coal company CEOs are sitting on their thumbs and waiting for the end to come. My only solution is to shut more mines. Surely there is more that can be done. Charlie Rose interviewed the EPA Chair over the week end. She said that by the year 2050 there will be NO coal fired electricity generating plants in the US. Means that the US thermal coal market is shrinking every day. With almost 40% of the electricity generating market today, coal companies have a lot of clout. I continue to say that coal company CEOs cold do more than they are doing now.
Dow down 18. Good move up for most coal company stocks. Rumor about a WLT merger probably the reason. NRP down and at the low of the day. Will be down 11 of the past day 12 trading days if we close down today.. Natural gas down and back below $4. Watch inventory numbers at 10:30.