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View Full Version : In an astounding display of stupidity ...



LWW
03-12-2011, 04:31 AM
... the regime doesn't want the US, with strong environmental regulations, using coal.

So ... we ship the coal overseas so they can advance their economy at the expense of ours, while pushing for a US fleet of coal powered cars.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">NEW YORK (MarketWatch) — Peabody Energy’s plan to ship 24 million metric tons of thermal coal per year out of a new terminal planned for Washington state would boost U.S. exports by nearly a third from current levels.

With total U.S. coal exports at 81.5 million tons in 2010 according to industry estimates, the agreement to ship coal from the planned Gateway Pacific Terminal near Ferndale, Wash., would represent a big chunk of America’s business for selling coal overseas.

St. Louis-based Peabody (BTU 63.14, +1.55, +2.52%) and privately held terminal operator SSA Marine, a unit of Carrix Inc., late Monday announced a pact to export coal mined from the Power River Basin in Wyoming.

SSA plans to begin construction of the terminal in 2013, with the first coal shipments expected about two years after that. The cost of the facility is estimated at about $500 million. Its maximum capacity for coal would be about 48 million tons.

“We believe this is a generally positive announcement for Peabody,” analyst Jeremy Sussman of Brean Murray Carret & Co. said in a note to clients on Tuesday. “It is by far the largest announcement yet for potential Powder River Basin exports.”

Shares of Peabody Energy rose 0.4% to $65.20 on Tuesday, despite losses in the broader market.

Sussman said he expects the Gateway Pacific Terminal project will draw political and environmental opposition, based on the negative reactions from environmental groups such as the Sierra Club to another coal export terminal project in Longview, Wash.

“While this is a good first step for Peabody, there are a lot of hurdles that need to be cleared before a large-scale export can ultimately get built,” Sussman said. “If this does get built, Peabody will benefit significantly more than its peers.”

Given the upward move in coal prices of late, coal exporting could offer rich rewards. The benchmark prompt seaborne thermal coal price in Newcastle, Australia, rose 34% in 2010, Peabody said in its annual report.

As the only U.S. firm with a major presence in Australia, Peabody Energy already ships metallurgical coal — used to make steel — and thermal coal to Asia.

Under its new contact with SSA Marine, Peabody would ship Powder River Basin thermal coal — used to generate electricity — from Wyoming via train lines operated by Berkshire Hathaway Inc.’s (BRK.A 128,000, +310.00, +0.24%) Burlington Northern Santa Fe railroad.

All told, Peabody produces about 250 million tons of coal a year. The company now sells Power River Basin coal to customers in the U.S., Asia, Canada, Europe and South America.

While exports only comprise a small share of the U.S.’s total coal output of 1.12 billion tons annually, they are a growing portion of the business.

Peabody estimates that the market for subbituminous coal in the Pacific Rim is expected to increase to 250 million metric tons by 2015, up from about 140 million metric tons now.

Company spokeswoman Beth Sutton said Peabody is in talks with “multiple customers” for its Power River Basin coal to ink supply agreements, but she declined to give further details.

Luke Popovich, a spokesman for the National Mining Association, said the U.S. serves as a swing coal supplier to the world market.

“When Queensland flooding [in Australia] and China’s rapid cost-recession recovery created a spike in demand to feed China’s coal demand, our exports spiked up,” he said, describing recent market trends. “China has been a big factor.”

U.S. coal exports fell to 60 million tons in 2009 during the global recession, but it has since picked up steam, he said.


</div></div>
AMAZING! (http://www.marketwatch.com/story/peabody-hopes-to-boost-us-coal-exports-2011-03-01?reflink=MW_news_stmp)

Soflasnapper
03-12-2011, 11:53 AM
You get a lump of coal in your next Christmas stocking for this absurd post.

A private company in the coal business sells OVERSEAS?!??! Oh, the humanity! But it sounds like a standard business arrangement having nothing to do with any O administration change.

So why do you hate capitalism, or why are you so blinded that you'd use standard capitalist exporting business to claim O is stupid, when he's not even involved?

Do you think the government should forbid export of coal, and if so, only when a Democrat is president?

wolfdancer
03-12-2011, 12:08 PM
Maybe his post heading was a comment on the absurdity of the body of his text?

pooltchr
03-12-2011, 12:41 PM
Are you really Santa Clause???????


Steve

LWW
03-13-2011, 04:12 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">You get a lump of coal in your next Christmas stocking for this absurd post.

A private company in the coal business sells OVERSEAS?!??! Oh, the humanity! But it sounds like a standard business arrangement having nothing to do with any O administration change.

So why do you hate capitalism, or why are you so blinded that you'd use standard capitalist exporting business to claim O is stupid, when he's not even involved?

Do you think the government should forbid export of coal, and if so, only when a Democrat is president?
</div></div>

Are you really so brainwashed that you don't get the point?

Qtec
03-13-2011, 05:03 AM
Call the Obamatron thugocracy right away. Geez, Obama would never stand for this blatant Capitalism.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Luke Popovich, a spokesman for the National Mining Association, said the U.S. serves as a <u>swing coal supplier to the world market.</u>

“<span style='font-size: 14pt'>When Queensland flooding [in Australia] and China’s rapid cost-recession recovery created a spike in demand to feed China’s coal demand, our exports spiked up,”</span> he said, describing recent market trends. “China has been a big factor.”

U.S. coal exports fell to 60 million tons in 2009 during the global recession, but it has since picked up steam, he said </div></div>

Oh My!!!!!!
Companies who employ American workers, who actually produce something REAL and sell it abroad for a PROFIT?????.....and you are complaining?????????????

This post of yours REALLY shows how much you HATE Obama.


Q.......crystal clear.

Soflasnapper
03-13-2011, 01:39 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">You get a lump of coal in your next Christmas stocking for this absurd post.

A private company in the coal business sells OVERSEAS?!??! Oh, the humanity! But it sounds like a standard business arrangement having nothing to do with any O administration change.

So why do you hate capitalism, or why are you so blinded that you'd use standard capitalist exporting business to claim O is stupid, when he's not even involved?

Do you think the government should forbid export of coal, and if so, only when a Democrat is president?
</div></div>

Are you really so brainwashed that you don't get the point? </div></div>

Perhaps brainwashed, but perhaps not. What is your point, which I admit I don't get?

LWW
03-13-2011, 01:59 PM
The regime, and the Goremons in particular, are doing everything possible to ban coal in the name of saving Gaia.

The reality is that the coal is still being burned, and if it in fact causes global warming ... the central belief in wanting it's use banned ... then it will cause it even faster when burned in China since not only will the coal still be burned but additional fossil fuels will be consumed to transport it.

In fact all we are achieving is wealth redistribution from the US economy ... which respects the ecology and the worker ... to the Chinese economy, which respects neither.