Coal Confronting Bigger Threat Than Obama’s Rules for Clean Air
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U.S. coal companies worried that the Obama administration’s proposed clean-air rules will put them out of business face a bigger threat: natural gas.
Shale formations in the eastern U.S. are yielding record amounts of gas, pushing prices of the fuel in the region below coal, which had been 61 percent less expensive on average since 2001. As power generators use more gas, coal is piling up at the fastest rate since 2009, according to BB&T Capital Markets.