Soon our national parks will be fenced off and occupied by heavy machinery with the explicit purpose of digging giant holes and harvesting sweet, sweet coal. At least, that’s what the latest rumors from Washington are saying.
Shares of Arch [nemesis] Coal spiked higher Tuesday morning after reports were crossing trading desks saying Trump is preparing an Executive Order to lift the coal mining ban on federal lands.
Arch coal is pumped. According to their website, they sold 128 million tons of black rock in 2015. Freed from the oppressive regulations of the EPA, and without regard to dumb hippies and Indians trying to protect sacred swaths of nature, they might be able to blast a few million more tons out of the earth. With a little luck and dynamite, of course.
These rumors from the White House are all very bullish for coal.
Probably bearish for earth.
Shares of $ARCH actually have a negative return so far, year-to-date. Let’s hope our authoritarian regime can fix that for the good capital invested in crude energy production.Comments »