Shale Gas Boom Threatens Appalachian Coal

Bloomberg reported that an increase in shale gas production has forced Appalachian coal companies to cut production.

As quoted in the market news:

Mining companies in Appalachia, an area covering 12 eastern states and home to 85 percent of U.S. coal mines, have cut at least 21 million tons of production this year, according to Doyle Trading Consultants in New York.

Click here to read the full Bloomberg report.