It is no longer just Obama and EPA who have killed the U.S coal industry. It seems the world is going against coal industry. Coal is still supplying 30-40% U.S power generation, so why coal stocks are all on the verge of bankruptcy? I have loss my arss in ANR, ACI, and WLT and still don't get it.
I am just preparing for the worst should that ever come. I am all in with ANR at this price. Either lose it all or double what I have.
Either loses all or double what I have in 2015. It's a facking gamble at this stage. No Pain No Gain, let it be!
what does it take for coal stocks to bounce?
Just thought coal stocks can't get any worse, they dropped again and again a lot worse. Wish I never heard of any facking coal stocks.
Have to let it out of my heart.........It is painful to take with these facking coal stocks.
U.S needs someone like Putin who is strong to stand up against the fracking crazy liberals in this country!
By Patrick Rucker
WASHINGTON, Dec 19 (Reuters) - U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.
American taxpayers by law are due a 12.5 percent royalty on the sales of millions of tons of coal pulled each year from federal land that mining companies lease.
In past years of strong global demand, U.S. miners have been able to avoid a royalty hit on lucrative exports by first selling to affiliated traders at low domestic prices.
The reforms proposed on Friday will update rules on how energy companies settle their royalty payments on coal, oil and gas pulled from federal land but the changes to the coal program may have the biggest impact.
"Coal produced on public lands is an important part of our domestic energy portfolio, but we have an obligation - and we are fully committed - to ensure that the American taxpayer receives a fair return for the production of domestic energy resources," Deputy Secretary of the Interior Mike Connor said in announcing the proposal.
The Interior Department has been investigating possible royalty shortfalls in the federal coal program since February 2012.
The plan is now open for public comment for 60 days.
Arch Coal Inc, Peabody Energy Corp and Cloud Peak Energy Inc are among the leaders in mining coal from federal land in the West.
(Reporting By Patrick Rucker; Editing by Doina Chiacu)
Ben - what do think of this NEWS today. Is it good or bad for coal?
I wish coal stocks can rally like coal stocks this week. Oil stocks sure rally back strong.
They will have to restructure their debts at some point with through selling more non-core business or through CH11 restructure. Looks like they will have no other choice given the low coal prices and strong sentiment against coal.
No kidding man. I felt the same way. This economy must be just living on Internet stocks and tech stocks. Everything else doesn't exist in the virtual wallstreet world.
U.S media are all crooks...they says whatever the heeellll they want to. Just like the ANALysts upgrade and downgrade stocks for no facking reasons.
I was hoping coal stocks would go up on this NEWS, but I guess I was so wrong. Coal stocks fall along with all Shale oil energy stocks today.
VIENNA (Reuters) - Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low.
Brent oil fell more than $6 to $71.25 a barrel after OPEC ministers meeting in Vienna left the group's output ceiling unchanged despite huge global oversupply, marking a major shift away from its long-standing policy of defending prices.
This outcome set the stage for a battle for market share between OPEC and non-OPEC countries, as a boom in U.S. shale oil production and weaker economic growth in China and Europe have already sent crude prices down by about a third since June.
"It was a great decision," Saudi Oil Minister Ali al-Naimi said as he emerged smiling after around five hours of talks.
OPEC said in a statement that members had agreed to roll over the ceiling of 30 million barrels per day, at least 1 million above OPEC's own estimates of demand for its oil next year.
"It is a new world for OPEC because they simply cannot manage the market anymore. It is now the market’s turn to dictate prices and they will certainly go lower," said Dr. Gary Ross, chief executive of PIRA Energy Group.
The wealthy Gulf states have made clear they are ready to ride out the weak prices that have hurt the likes of Venezuela and Iran - OPEC members which face big budget pressures, but cannot afford to make cuts themselves. Venezuela and Algeria had calling for output cuts of as much as 2 million bpd.
Venezuelan Foreign Minister Rafael Ramirez said he accepted the decision as a collective one and hoped that lower prices would help drive some of the higher-cost U.S. shale oil production out of the market.
Is this NEWS good or bad for coals?
it doesn't matter. Just flood the entire Australia would be good for coals. any bad NEWS out of Australia is needed for U.S coals to move up.
VIENNA, Nov 27 (Reuters) - Shale oil is a disaster for climate change, Venezuelan Foreign Minister Rafael Ramirez said on Thursday as OPEC prepares to decide on oil output policy.
"The U.S. is producing in a very, very bad manner. The shale oil, I mean it is a disaster from the point of view of climate change...," Ramirez told reporters.
Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna, with Venezuela trying to rally support for action to boost crude prices that have been hit by a supply glut.
This should be good for coals I hoped.