A few observations: Markets often over-compensate, creating opportunities. Industry wide predictions that are all doom and gloom can signal some long term buying opportunities for companies that are sound and well managed.
The coal industry is now in a short term slump due to low natural gas (NG) prices. Coal has traditionally been priced a little cheaper than NG. The investment for coal fired plant is also slightly higher than for a gas fired plant. Long term, the coal prices will continue to move in lock-step with NG prices. EPA regulations, mining safety standards, competition from gas and nuclear plants, labor costs, decreasing energy use during an economic recession, transportation costs, etc. were predicted to shut down the coal industry by the end of the 1970's.
Today, steel production in the US will probably continue to decrease. Changes in the cost of generate electricity are regularly and automatically passed on to consumers. What percentage of US electricity is currently generated by coal? That is not likely to change rapidly.
Take a good look at each individual company, how they have handled industry slumps in the past. There should be some long term buying opportunities within the coal industry, if you can buy on the lows.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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