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Standard & Poor's downgrade of James River Coal (JRCC -15%), which forecast...

Standard & Poor's downgrade of James River Coal (JRCC -15%), which forecast deteriorating liquidity for the company based on the likelihood of weaker coal markets through 2013, is reverberating through the coal sector, also sending peers plummeting: PCX -7.6%, ACI -5.1%, ANR -2%, BTU -1.1%.
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Comments (23)
  • montanamark
    , contributor
    Comments (1446) | Send Message
     
    there is rejoicing by chu, obama and our energy dept - their plans are working - destroying jobs and business while algore becomes wealthier
    26 Jun 2012, 03:50 PM Reply Like
  • wyostocks
    , contributor
    Comments (9030) | Send Message
     
    One thing Obama can take credit for is destroying the industry.
    However they in WV keep voting democratic. Go figure.
    26 Jun 2012, 04:00 PM Reply Like
  • The Sane Investor
    , contributor
    Comments (357) | Send Message
     
    Pretty sure the credit for destroying coal goes to nat gas
    26 Jun 2012, 05:15 PM Reply Like
  • warrenrial
    , contributor
    Comments (561) | Send Message
     
    Destroying the industry and America, that's his goal.
    26 Jun 2012, 05:35 PM Reply Like
  • eagle1003
    , contributor
    Comments (1659) | Send Message
     
    What is with the American habit of blaming everything that is wrong, on your President? Do you have any idea how ridiculous that looks to your more educated peers in other countries?
    26 Jun 2012, 10:21 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (4156) | Send Message
     
    eagle, do you have any idea how ridiculous it looks to claim there exists more "educated peers in other countries"? As if they're not more bankrupt and in political disarray than even the US. Try getting out in the real world. Obama has publicly stated he's out to bankrupt coal and his administration has followed through on his goal.
    27 Jun 2012, 04:50 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (2010) | Send Message
     
    Not time for coal nor NatGas just yet. I am on hold for those as I am for PM's for the little bit. Just hang in there, time is coming for those two, (NG and Coal)

     

    Happy sitting in the station.

     

    Train's comin' just you wait.

     

    Capt. Brian
    The Lost Navigator
    26 Jun 2012, 04:03 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (3242) | Send Message
     
    I love bad articles, just drives the price lower for those willing to wait it out. In 20 years will coal be higher or lower than here considering all the global printed cash coming?
    26 Jun 2012, 04:26 PM Reply Like
  • klarsolo
    , contributor
    Comments (706) | Send Message
     
    Coal may not be used as an energy source by then
    26 Jun 2012, 05:05 PM Reply Like
  • lostalloncoal
    , contributor
    Comments (373) | Send Message
     
    Are you talking about planet earth ? Global usage of coal is only going higher.

     

    Obamination in US is killing coal to please his election financiers. Killing thousands of jobs. Legalizing illegal immigrants so that he get their support in election. I studied that these things used to happen in corrupted country like India where Bangladeshi immigrants were legalized so that they vote for a large political party called "Congress". Shockingly, it is happening in US.

     

    Look here: http://bit.ly/LzUBtr

     

    For the first time since 1969, coal beat every other source in terms of usage in energy (not just power generation). Look at the study by BP (year 2012 and not old study):

     

    http://bit.ly/MVGDOA
    26 Jun 2012, 05:17 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (4156) | Send Message
     
    Apparently the hicks in Appalachia are expendable. Be patient though, this is coming to an industry near you after Obama's re-election. You're safe however if you're a member of a longshoreman's union. There will be lots of work offloading wind turbines and solar panels out of China.
    26 Jun 2012, 04:06 PM Reply Like
  • The Sane Investor
    , contributor
    Comments (357) | Send Message
     
    Have you been following the price of natural gas? That is what crushed this industry.
    26 Jun 2012, 05:16 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (4156) | Send Message
     
    Nat gas will not bankrupt coal unless you believe in sub-$3 gas in perpetuity, which is unrealistic. There's a difference between the near-term industry downturn (which the industry can weather) and Obama's goal to bankrupt the coal industry, which the EPA already has in progress and is a political goal that the industry cannot on it's own prevent.

     

    Furthermore you're selling a lie that the economics can't be immediately improved. Right now there are proposed terminal projects in the Pacific Northwest that are being blocked and delayed. This has absolutely nothing to do with the price of nat gas.
    27 Jun 2012, 05:04 PM Reply Like
  • rich205
    , contributor
    Comments (20) | Send Message
     
    Nat gas, not politics is killing the coal industry. Just look at some of the articles that document how nat gas is replacing coal at the electric utilities. Why wouldn't it? It's cheap, plentiful, and clean.
    26 Jun 2012, 06:23 PM Reply Like
  • lostalloncoal
    , contributor
    Comments (373) | Send Message
     
    Rich, It's the EPA regulation that killing coal. Get ready to pay 3-4X of utility bill soon. If the current pricing of NG continues, NG companies would go BK before met coal companies.
    26 Jun 2012, 06:27 PM Reply Like
  • Jack Wildcat
    , contributor
    Comments (174) | Send Message
     
    Electricity will switch back at about $3 or higher so consider the low prices of these coal companies a gift. Natural gas dry gas rig count dropped below 600 last week, a record. Guess what follows a drop in the rig count? Drops in production. You will see natural gas rise above $3 very quickly after the next report and coal will be switched back to keep electricity cheap. Long JRCC, ACI, ANR, BTU. Catious about PCX losing money fast. Banks will re-finance though because they don't want the coal assets. Also overseas demand increase is a real factor. Your ignorant if you think coal is going to disappear.
    26 Jun 2012, 09:03 PM Reply Like
  • vireoman
    , contributor
    Comments (1079) | Send Message
     
    Coal kills. For a country as prosperous as the United States to continue to allow 386,000 tons of toxic pollutants to be spewed into the atmosphere by coal-burning power plants every year, even disregarding the reality of global-warming, would be insane. Given the abundance of (currently) cheap natural gas, the timing of the EPA limitations on that pollution couldn't have been more timely. Jobs may be lost in West Virginia, but they'll be gained in other parts of the country, such as North Dakota. As far as coal is concerned, the time to pay the piper has arrived.
    26 Jun 2012, 10:19 PM Reply Like
  • lostalloncoal
    , contributor
    Comments (373) | Send Message
     
    Once you loose your job, You will know. Easy to say job may be lost.

     

    - The car you drive kills. Do you even know amount of CO2 it throws out !

     

    - In bay area, fish were found with 10X more radioactivity than normal. Where did it came from ? Japan. Thats' far, isn't it. Genetic defects were found. Did we forget about chernobyl! We should put a nuclear reactor behind your house. Kodak had micro nuclear reactors. That should be sufficient to power your house.

     

    - How many oil spills we had ? Do you know. No clue right. Still people are drilling on sea. Your car uses oil or air; who knows may be air. . Amount of damage oil spill did people are still analyzing. Genetically modified species were found. Irreparable damages were done.

     

    - How many people you see around smoke ? Do you even know. It kills more people than anything.

     

    - Well in CA, all Starbucks have a notice that coffee can cause cancer.

     

    There are millions on examples. Think before you say "coal kills".
    26 Jun 2012, 11:00 PM Reply Like
  • wyostocks
    , contributor
    Comments (9030) | Send Message
     
    vireoman
    I hate to break the bad news to you but life kills too.
    27 Jun 2012, 09:28 AM Reply Like
  • Jack Wildcat
    , contributor
    Comments (174) | Send Message
     
    Vireoman:

     

    North Dakota Bakken Shale is an oil play, not a gas play. Might want to read up on where the gas plays are vs oil plays. Also, natural gas is not that clean but that's a long discussion. Coal is cheap and puts lights in homes that have no other option (overseas).
    26 Jun 2012, 10:41 PM Reply Like
  • Continental Kid
    , contributor
    Comments (228) | Send Message
     
    Obama is out to kill coal....and fossil fuels...don't kid yourself...as coal has been beaten within an inch of its life...the Left wingers won't even allow the coal companies to build exporting harbors in Washington State and Oregon to ship coal to a willing buyer in China.....and if reelected he will go after fracking....just you watch
    26 Jun 2012, 11:26 PM Reply Like
  • lostalloncoal
    , contributor
    Comments (373) | Send Message
     
    Then we will have kerosene lamps and firewood. We should go back to caves, live there in caves and study obamalogy.
    26 Jun 2012, 11:33 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9973) | Send Message
     
    Coal is getting cheap, but also likely to get cheaper yet. Probably attractive at current levels for much longer term investors though.
    26 Jun 2012, 11:33 PM Reply Like
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