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The company produces and sells thermal and metallurgical coal in the United States.
things look dark now, but low costs always have a way of changing the demand curve.. you either have to figure that they are going out of business ..or that they won't ..if they don't then you would have a hard time arguing that PCX under 2 bucks a share isn't worth the risk... reversion to mean...
As bad a rap as Obama is giving thermal coal, it still represents more than 40% of US energy production. Comparing the cost of a Megawatt/hr between coal, gas, nuclear, and hydro, the current cost of coal is about $80 compared to gas at about $100 (nuclear and hydro are at about $125). This is based on the current price of natural gas at $2.20/MBTU. If the price of natural gas goes to a "predicted" $3.75/MBTU by the end of 2013, the cost of a Megawatt/hr of natural gas would be about $170....double that of thermal coal! Energy companies might think twice about "switching" from coal to gas if the EPA gets out of the way. With Romney winning in November, the people in the White House who are "screwing" companies like Patriot Coal will no longer be holding smoking guns. With a little help from Ohio and Wisconsin, the idiots pushing wind and sun at $350 per Megawatt/hr will no longer be sending our tax dollars to Solindra.
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