When Obama was elected in 2008, everyone on Wall Street said “oh well, the coal stocks are fucked,” sort of tongue in cheek. During the 2012 elections, at a time when Romney was up in the polls, coal stocks ran like canaries in the clean fresh open sky. After Obama won, I vowed to never buy a coal stock again.
The entirety of the industry is bankrupted, 100% thanks to the EPA. Now I struggle with this because I fucking hate coal, with every fiber of my being. I want to pelt coal executives in the heads with sharp coal digging shovels and blow up their harems with truckloads of their fucking byproducts. On the other hand, the good lads working in West Virginia, acquiring the black lung free of charge, will now need to find work elsewhere. Quite frankly, all of those people are too stupid to do anything else, other than pick rocks out from the mountains of Appalachia. And, by the way, “The Fly” never digresses, not even for a solitude second.
Perusing the masterpiece that is Exodus tonight, I am stunned by how fast and furious the dissolution of the coal industry has been. Once great names, like WLT, BTU, ACI and ANR, are now on the road to Valhalla. You should bear witness to this because it’s the beginning of the end of an ancient industry. A clownish industry that once tried to refurbish their dastardly product as ‘clean coal’, but now reduced to the ash from President Obama’s newport cigarette (extra menthol).
Now it’s just stupid coal.
https://www.youtube.com/watch?v=OqAlMItkV44
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Remember when WLT almost got bought out for $10bil+ in 2011? Good times….
CLF, please pick up the white courtesy phone.
Just bc Wall St. hates the coal industry, doesn’t mean business as usual doesn’t continue. These co’s are still producing coal day in & day out. Every time you flick on your lights you are supporting the coal industry. Greater than 44% of the electricity in this country comes from coal & believe it or not, it will take decades to replace that power generation capacity using whichever alternative you chose. The coal industry will find a bottom soon, they need to consolidate more IMO. And, once a republican is elected into office they will go to work on the EPA. Bottom line, a huge buying opportunity is coming.
I entreat you to look at those plunging revenue numbers. Do you know what that means!?
IT MEANS THEY ARE NOT PRODUCING COAL AS ALWAYS, LIKE YOU JUST SAID.
Stop lying to the people.
Dude, when a stock is down 95% in 1 year and has a mountain of debt to service, finding the “bottom” for a “huge buying opportunity” is a sure way to make your account go tits up.
When he says “consolidate more”, what the fuck does that mean?
Pile the ashes higher. Like a Tower of Babel.
I didn’t say they were profitable!! Lol.. They are sling coal for a lot less than they use to, and production is down across the board as well. These stocks were over hyped in general due to the commodity boom & the export market (which is basically non-existent at the moment). My point is that this industry CANT die, it would be a national security issue if they all decided to stop working & go home! I’m not smart enough to say when they will be a buy, I’m just saying they aren’t going away & will eventually be a buy again.
Coal can be saved! They just need to “identify as black”. It was not their fault. Working in a coal mine made them look that way.
I don’t think it gets anymore fucked up then “We need to make more money off destroying the planet and peoples’ health!”
Too bad that the miners have to lose out, but you have to evolve or die. Dead industry.
Dyer and Fly are both correct – the industry is screwed BUT some of those will names will persist and thus trade higher.
@Fly re consolidation: at the bottom there won’t be as many coal producers left (keep in mind there are many non-public coal companies still mining as well). The industry needs additional consolidation; so they can shut down the less feasible -more costly operations.
@Rhino: the hippie hypocrite argument doesn’t really work. Next time you turn you your lights on you should be thanking a coal company.
Maybe that’s what the industry should do; as a thought experiment, what would happen if they all just gave gave up tomorrow? 1) after stockpiles are gone, rolling blackouts would sweep across the country, thousands of elderly & hospitalized would die due to heat exhaustion & loss of critical services. 2) the economy would faulter -huge understatement. 3) after a week w/out electricity most cities would riot. After 2 weeks w/out electricity most would begin to starve. Hope my point is made.
These companies at the very least have a value as utilities.
Can not agree with you on cybr
Trully amazing… the entire industry was reduced to penny stock status
thats why you buy and cloes your eye
There was a guy on a forum I frequent that has been shorting BTU forever; I don’t know how many mansions and weird psychotropic drugs and women he must have by now, but I wager a lot.