Coal Stocks Surge -- Is There Room Left to Run?
06 April 2011 - 2:16PM
Marketwired
Coal support has been on the upswing in recent weeks as safety
concerns brought to light by the shutdown of the Japanese Fukushima
Daiichi nuclear facility have soured public sentiment on nuclear
energy. According to the International Energy Agency, coal
currently accounts for roughly 40 percent of world electricity
generation, and this number is likely to go up, should nuclear fall
out of favour. The Bedford Report examines the outlook for
companies in the Coal Industry and provides research reports on
Patriot Coal Corporation (NYSE: PCX) and International Coal Group,
Inc. (NYSE: ICO). Access to the full company reports can be found
at:
www.bedfordreport.com/2011-04-PCX
www.bedfordreport.com/2011-04-ICO
While coal demand in Europe and the United States remains
stagnant, emerging markets -- particularly China and India -- have
played a critical role in coals renaissance. Indeed an official
with the China's coal association said late last year that the
country's demand for coal will continue to increase in the next
five years and is expected to reach 3.8 billion tonnes in 2015.
The Bedford Report releases regular market updates on the Coal
Industry so investors can stay ahead of the crowd and make the best
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The devastating floods in Queensland Australia earlier this year
has put a premium put on North American and U.S. met coal
production. Luke Popovich, a spokesman for the National Mining
Association, said the U.S. serves as a swing coal supplier to the
world market. Popovich explains: "When Queensland flooding and
China's rapid cost-recession recovery created a spike in demand to
feed China's coal demand, our exports spiked up."
Due to the Queensland flooding, the US Energy Department
believes shipments from the US are poised to rise almost nine
percent this year to about 86.5 million tons -- the most since
1996.
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