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In the past, downturns in the energy sector have been cyclical, but this time, it's different,...

  • Monday, July 16, 2012, 7:48 PM ET
    In the past, downturns in the energy sector have been cyclical, but this time, it's different, says Wilbur Ross. This time, it's secular. Coal and coal-related issues in particular are area in which he advises special caution. Cheaper natural gas, a mild winter and new EPA rules have combined to change the game. So, with demand at a 24-year low and inventories continuing to climb, he doesn't see how coal prices can rebound enough to generate any meaningful rally.
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This news story has 11 comments:

  •  
    Isn't Wilbur long natural gas...
    16 Jul 2012, 07:57 PM Reply Like
  •  
    Wilbur went in big w/ XCO. Plenty of incentive to bash coal.
    16 Jul 2012, 08:27 PM Reply Like
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    He also sold International Coal Group before the coal stocks took a huge hit, after building the company. He knows the market.

    And he doesnt need to bash coal, natural gas prices/EPA/slowing Chinese growth are doing a fine job of that on their own.
    16 Jul 2012, 09:18 PM Reply Like
  •  
    Yeah he knows. XCO at $14.
    16 Jul 2012, 10:01 PM Reply Like
  •  
    And another 700,000 shares @ 6.87 last month. Hes not a trader, hes a long term investor.
    16 Jul 2012, 10:29 PM Reply Like
  •  
    And thats why pumping his investment. Thats what every human being do.
    16 Jul 2012, 10:35 PM Reply Like
  •  
    Yes, Ross might just be pretty close to the truth on coal this time around. Still if coal equities get cheap enough, they may be a decent LT investment play.
    16 Jul 2012, 11:02 PM Reply Like
  •  
    Coal is being buried, oh, wait, it is staying buried
    16 Jul 2012, 08:47 PM Reply Like
  •  
    futs already green - ben fever
    16 Jul 2012, 10:28 PM Reply Like
  •  
    wilbur ross is a moron - he got saved with other peoples money when he was at bethlem steel. come on a guy who can buy into european banks 3 years ago must be deep underwater.
    16 Jul 2012, 10:42 PM Reply Like
  •  
    Can't agree more.
    16 Jul 2012, 10:59 PM Reply Like
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