Obama Administration's Regulations Accelerating Coal's Slide The Paragon Report Provides Stock Research on Peabody Energy and Patriot Coal
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The Paragon Report Provides Stock Research on Peabody Energy and Patriot Coal
NEW YORK, NY -- (Marketwire) -- 05/10/12 -- President Barack Obama has continued to show strong support of energy development in the U.S., but recently failed to mention the coal industry in his State of the Union address or during a recent tour promoting his policies. According to the National Mining Association the Obama administration regulations are accelerating coal's slide. The Paragon Report examines investing opportunities in the Coal Industry and provides equity research on Peabody Energy Corporation (NYSE: BTU) and Patriot Coal Corporation (NYSE: PCX).
Access to full reports can be found at:
www.ParagonReport.com/BTU
www.ParagonReport.com/PCX
The American Coalition of Clean Coal Electricity is "exceptionally disappointed in the policies of this administration with respect to coal," Luke Popovich, a spokesperson for the group, said in a recent interview. After unsuccessfully attempting to push legislation to block recent EPA regulations the group's focus will shift to the presidential campaign. According to the Center for Responsive Politics, a group that tracks lobbying and campaign spending, political donations from industry executives and employees have already exceeded 2008 totals. Republican presidential candidate Mitch Romney, a strong supporter of the coal industry, accused Obama of making it "harder to mine for coal," during his speech on May 3.
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As of December 31, 2011, Peabody Energy owned interests in 30 coal mining operations, including an interest in 29 coal operations located in the United States and Australia and a 50% interest in the Middlemount Mine in Australia. The company's first quarter revenues rose 17 percent to $2.04 billion, driven by a 27 percent increase in Australian revenues per ton and a 7 percent rise in U.S. revenues per ton. Sales volumes of 61.7 million tons were above prior year sales of 61.2 million tons.
Patriot Coal Corporation is a leading producer and marketer of coal in the eastern United States, with 13 active mining complexes in Appalachia and the Illinois Basin. Revenues in the 2012 first quarter were $502.6 million, compared with $577.0 million in the prior-year quarter. Lower revenues in the 2012 quarter resulted from fewer tons sold, partially offset by higher revenue per ton.
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