The coal industry will not go bankrupt, but if coal industries are not willing to spend a few dollars to upgrade their technology then yes it will hurt them a lot.

That's not the way the business works. Spot coal prices will follow plummeting oil prices. The cost of such supplies as roof bolts, conveyor belts, mining equipment, and every other expense that rose with coal prices will not keep pace with declining coal prices.

 

If companies believe Obama's threat of taxing them into oblivion, many owners will exit the business before they lose their shirts. The result will be the loss of management expertise from the industry that cannot easily be replaced.

 

Obama is the coal industry's worst nightmare - even under a best case scenario.

That's not the way the business works. Spot coal prices will follow plummeting oil prices. The cost of such supplies as roof bolts, conveyor belts, mining equipment, and every other expense that rose with coal prices will not keep pace with declining coal prices.

 

If companies believe Obama's threat of taxing them into oblivion, many owners will exit the business before they lose their shirts. The result will be the loss of management expertise from the industry that cannot easily be replaced.

 

Obama is the coal industry's worst nightmare - even under a best case scenario.

 

Maybe people became too dependent on Coal then...Coal isn't going to be here forever and people need to realize that and not always count on it..

There are WAY too many Senators and Reps in coal-producing states whose careers are on the line to ever let Obama succeed with his threats regarding this issue. PA, OH, KY, VA, WV, etc etc

 

Exactly...:thumb:

There are WAY too many Senators and Reps in coal-producing states whose careers are on the line to ever let Obama succeed with his threats regarding this issue. PA, OH, KY, VA, WV, etc etc

 

 

So, to just get right down to the nitty-gritty...much ado about nothing.

That's not the way the business works. Spot coal prices will follow plummeting oil prices. The cost of such supplies as roof bolts, conveyor belts, mining equipment, and every other expense that rose with coal prices will not keep pace with declining coal prices.

 

If companies believe Obama's threat of taxing them into oblivion, many owners will exit the business before they lose their shirts. The result will be the loss of management expertise from the industry that cannot easily be replaced.

Obama is the coal industry's worst nightmare - even under a best case scenario.

 

Excellent point Hoot. Coal prices have recently rebounded quite nicely especially metallurgical quality coal. However, a client of mine recently related to me that skilled labor is now very hard to find to work the mines as they begin to resume operations because so many years passed where mines were shut down due to depressed prices and the mining workforce dispersed and went on to other occupations.

So, to just get right down to the nitty-gritty...much ado about nothing.

 

I believe the coal mines in Ky are on the bottom of his 10,000 things to do list...

Maybe people became too dependent on Coal then...Coal isn't going to be here forever and people need to realize that and not always count on it..

50 percent of our electricity comes from coal. You cannot just turn that switch off with no viable alternative and expect the economy to do anything but collapse.

So, to just get right down to the nitty-gritty...much ado about nothing.

 

Perhaps. But, I still don't like Obama's apparent indifference to how many good paying jobs could be lost if the coal industry were suddenly placed in handcuffs and carried off to jail.

50 percent of our electricity comes from coal. You cannot just turn that switch off with no viable alternative and expect the economy to do anything but collapse.

 

You said 50% correct? Well that means 50% doesn't so I think we could live without having to rely on coal for the rest of our lives.

 

 

My thing is that I don't think Obama will bankrupt the Coal industry, for one reason or another. But I do think this wouldn't even be a problem if Kentucky as well as other states wasn't so dependent on it. Yes it was great for a long time and still is an asset but I mean really these states need to develop and coal is just one way of saying they don't need too.

I believe the coal mines in Ky are on the bottom of his 10,000 things to do list...

 

AA where was you last night while UK, Hoot, myself, and the other top minds of BGP were engaged in a bloody battle with the EVIL liberal minions of the board?

AA where was you last night while UK, Hoot, myself, and the other top minds of BGP were engaged in a bloody battle with the EVIL liberal minions of the board?

 

Carefully watching from the outside...I love a good fight as long as I am the one watching... You know I'm lover not a fighter unless it involves big mouth crazy high school football fans on there home turf....:fight::lol:

Edited November 6, 200817 yr by ADopted ADmiral

You said 50% correct? Well that means 50% doesn't so I think we could live without having to rely on coal for the rest of our lives.

 

 

My thing is that I don't think Obama will bankrupt the Coal industry, for one reason or another. But I do think this wouldn't even be a problem if Kentucky as well as other states wasn't so dependent on it. Yes it was great for a long time and still is an asset but I mean really these states need to develop and coal is just one way of saying they don't need too.

Could you live without electricity every other day? Obama has proposed rolling millions of electric cars onto American's highways. Where will the additional electricity come from to power those cars? Obama says that he favors safe nuclear power as long as nuclear waste can be safely disposed, yet he opposes transporting nuclear waste to Yucca Mountain, one of the most geologically stable sites in the world.

 

Obama was being honest when he said that the cost of electricity will skyrocket under his energy plan. Everybody will pay for his plan in one way or another.

 

For those who are unaware of this fact, production costs for central Appalachian coal are already much higher than for western coal and many parts of the country will be able to import more coal if Obama's policies force American mining companies out of business.

Carefully watching from the outside...I love a good fight as long as I am the one watching... You know I'm lover not a fighter unless it involves big mouth crazy highschool football fans on there home turf....:fight::lol:

 

:laugh:

 

I was surprised we got out of the stadium last week without incident given the quality of the "fence fans" there.

:laugh:

 

I was surprised we got out of the stadium last week without incident given the quality of the "fence fans" there.

 

There just lucky I know my limitations five days after hernia surgery...Plus I was more mad at our players than there fans...

As TTC said, Obama said that companies that choose to build new coal plants would go bankrupt because of his cap and trade program. Not only that, Obama promised that the cost of electricity would skyrocket as a result. His words. Note mine.

 

The cost of one ton of high sulfur coal is around 30 dollars.