tblakeslee

Why I'm Bullish On Coal Stocks

I couldn't disagree more and have shorted coal because it is an environmental disaster. It only seems to be a cheap energy source if you ignore the hidden costs: Worldwide fishing stocks are contaminated with mercury to where, in spite of warnings, one in six pregnant mothers have dangerous levels of mercury in their bloodstreams. Autism is endemic as a result. Also asthma is way up in coal areas. The entire planet is being disrupted by global warming. The Bush administration has been in denial on this problem but the new Democrat committee heads will soon pass carbon and mercury limits which will be a disaster for coal.
The so-called "clean coal" technology is an impractical idea that won't even be tested till 2012. The problem is that 3 tons of CO2 are produced for every ton of coal burned! That's a lot to dispose of. Meanwhile, wind and geothermal power is already selling for 5 cents/kwh and making a nice profit for companies like ORA and Suzilon. How can coal compete with the added cost of disposal of all that CO2?