King Coal is Losing Its Crown – September 17, 2013
Mining industry is facing a raft of problems domestically and internationally
You wouldn’t want to be King Coal these days. The coal mining industry, once a pillar of the US economy, is in the dumps as demand for the carbon-intensive black rock continues to plummet.
Here in the United States, coal demand fell by 21 percent from 2007 to 2012. With scores of existing coal plants scheduled to be retired in the coming years, the outlook has continued to dim for the industry. As a result, investors have fled the sector, and stock prices for major coal companies such as Peabody and Arch are down by 75 percent from only a few years ago.
Desperate to find a solution to… more
by: Ted Nace