>Yeah,I see that 80% of all coal shipments out of OZ have been cancelled! Great for Wyoming where I live at.
Maybe so, however coal is dirty, so its gas where it’s at.
Coal's burnout: Have investors moved on to cleaner energy sources?
The headline news for the coal industry in 2010 was what didn't happen: Construction did not begin on a single new coal-fired power plant in the United States for the second straight year.
This in a nation where a fleet of coal-fired plants generates nearly half the electricity used.
But a combination of low natural gas prices, shale gas discoveries, the economic slowdown and litigation by environmental groups has stopped - at least for now - groundbreaking on new ones.
"Coal is a dead man walkin'," says Kevin Parker, global head of asset management and a member of the executive committee at Deutsche Bank. "Banks won't finance them. Insurance companies won't insure them. The EPA is coming after them. . . . And the economics to make it clean don't work."