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The Wall Street Journal reported that although 2013 was a tough year for coal, factors such as “booming” production from Wyoming’s open-pit mines and demand from emerging economies like India and China will make for better prospects in 2014.
The Wall Street Journal reported that although 2013 was a tough year for coal, factors such as “booming” production from Wyoming’s open-pit mines and demand from emerging economies like India and China will make for better prospects in 2014.
As quoted in the market news:
Two-thirds of coal’s growth will be driven by demand for electricity in China, the firm says. “China’s demand for coal will almost single-handedly propel the growth of coal,” William Durbin, Wood Mackenzie’s head of global markets, said in a recent speech.
In the U.S., coal is consolidating. Two counties in Wyoming account for 40% of U.S. coal production. And four companies—Peabody Energy Corp., Arch Coal Inc., Alpha Natural Resources LLC and Cloud Peak EnergyInc.—control 52% of U.S. coal production. Twenty years ago, the top four companies controlled less than 30%.
Click here to read the full report from The Wall Street Journal.