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With the recent explosion in crude oil and natural gas prices, analysts are no longer wondering if coal prices will catch up but when. There are still many opponents to coal, mainly environmentalists, and the term "clean coal" still remains an oxymoron to most people.
However, as the demand for coal increases, so will the development of "clean coal" technology, an environmentally safe use for coal. As stated in a New York Times article, "[e]nvironmentalists are worried, but they put their faith in a technology that gasifies the coal before burning. Such plants are designed, they say, to be more adaptable to separating the carbon and storing it underground."
With China now demanding more coal than it can produce and India following right behind, and plug-in hybrid cars going mainstream in the US due to outrageous gas prices, coal is going to become a very hot commodity. "Within the next few years, power companies are planning to build about 150 coal plants to meet growing electricity demands.
In another New York Times article, "[m]ajor corporations sense the possibility of a profitable new business, and G.E. signed a partnership on Wednesday with Schlumberger, the oil field services company, to advance the technology of carbon capture and sequestration."
With the US being called the Saudi Arabia of coal with the most reserves of any other nation, and coal being an "essential part of the world's energy future," it is only a matter of time until the coal rally begins.
Some coal stocks to look at are ACI, BTU, YZC, CNM; and the Exchange Traded Fund KOL.
http://www.wallstreetknowitall.org
Politico - Robert Gibbs, a top aide to Sen. Barack Obama (D-Ill.) on his campaign and in his Senate office, will be named the White House press secretary, a top Democratic official said.
Posted by frankvgmgzny | 10:32 AM | E-mail this post 
