Thursday, March 04, 2010

King Coal lurking

Marcellus Shale may need to wait.  Energy Burgh started with coal and King Coal may not like playing second fiddle. 

Not sure anyone has noticed this locally.....   Coal prices experienced the price spike like almost all energy commodities did in 2008, but they usually are not as volatile as say oil prices are.   But in just the last 2 weeks, Northern Appalachian coal (aka Pittsburgh Seam coal) has spiked 16+% which is a pretty quick bump up in price.  Still well below their 2008 peaks, but going from 55-64 $/ton is something worth noting, especially because it's mostly Pittsburgh coal that is spiking more than other coal prices.  Below is the latest graph from the Energy Information Agency with the recent history of coal prices in the US by region.

Could be an aberration... but could be a bigger story through the rest of the year.  Remember it was not long ago that folks were fighting over the right to dig up $100 million in coal buried in South Park.  What happened to that lawsuit by the way?  Remember further back when there was a plan to build a big indoor NASCAR track right here.  Sounded odd didn't it?   That I'm pretty sure was all a scheme to really dig up a vein of coal from under the site which was near the airport.  The airport property is pockmarked with coalwaste and related signs of the coal that was and is out there. 


3 Comments:

Blogger n'at said...

Have you seen the pricing out of Japan? Aussies will be eating steaks for a while...

Friday, March 05, 2010 2:07:00 PM  
Blogger Tom Moertel said...

According to this summary of Nello Fiore v. Allegheny County, an order was entered in favor of the defendant.

Friday, March 05, 2010 3:53:00 PM  
Blogger C. Briem said...

thx. curious I see no note of that in the media, the original issue caused a minor stir at the time.

****

I guess we need some oceangoing barges eh?

Saturday, March 06, 2010 12:52:00 PM  

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