Count me among those rejoicing:
Citigroup analyst John Hill downgraded coal company stocks across the board in a report this week, saying that expected U.S. greenhouse gas regulations on coal, which emits more of the main heat-trapping gas carbon dioxide than any other fuel, paint a bleak outlook for the sector.
Downward pressure on stock prices by a current U.S. coal oversupply could last for more than a year, he wrote. If that happens it could coincide with 2008 presidential campaign politics, in which a national plan to limit greenhouse emissions is expected to figure prominently.
"Election politics are likely to turn progressively more bestial for coal," Hill wrote. Candidates from both major parties favor putting national limits on greenhouse gases.
...
"Prophesies of a new wave of coal-fired generation have vaporized," Hill wrote. And technology to capture and bury CO2 at power plants may play a role in coming years, but remains expensive and elusive.
Couldn't have happened to a nicer industry.
Ask Umbra on ditching dirty things
Comments
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GreyFlcn Posted 6:57 am
23 Jul 2007
Clean Air Act compliance already costs too much for coal plants
Older coal plants have maxed out their capacity
The impending threat of GHG legistlation makes CCS look WAAAY too expensive.
So Coal has effectively been priced out of the market.
Or rather priced into the range where you could buy renewable electricity for cheaper.
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justlou Posted 7:50 am
23 Jul 2007
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JohnCaley Posted 8:24 am
23 Jul 2007
Gloat all you want to.. smile, ...might as well
Freezing to death with a frown on your face is not a good look.
I would be buying coal stocks....... LOL
but I wouldn't be here to see them go through the roof when the BigOil swindle is totally exposed; and what value is money at the end of the world?
Y'all are going to cause the depression feared from greenhouse gas panic.... but worse
extreme cold is rather unpleasant without water and greenhouse gases.
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