Heard on the Street: U.S. Coal vs. the World
23 Sep 2013
In case you hadn't heard, there is apparently a war on coal.
But climate change is just one front–the U.S. coal industry's adversaries range from Beijing's coughing commuters to Australia's ailing dollar. And while many coal-mining stocks have crumbled in the face of this pressure, investors should remember that the shares are cheap for good reasons.
New regulations from the U.S. Environmental Protection Agency announced Friday effectively make it almost unthinkable to build new coal-fired power plants–which account for more than 90% of U.S. coal consumption.
Source: The Wall Street Journal