Posted on 03/13/2009 7:05:25 AM PDT by RS_Rider
Obama’s fault.
You cant tie your shoe without finding a great tavern in that part of the country L0L
This development will travel backward to the mining industry that supplies mid vol coal to coke batteries. And, if they’re cutting coke, they obviously don’t need as much ore, which moves backward through iron mining and Great Lakes shipping. Is anyone in Bambi’s administration even slightly aware that steel, mining, mechanical equipment supplies, jobs etc are all related ?
That is exactly my take. Coal has already collapsed in price relative to its phenomenal runup from last year.
I hesitate to ascribe this to 0bama and will instead ascribe this to a “natural” slowdown in the busines cycle.
However, what I WILL happily ascribe to 0bama would be the relentless vilification of steelmaking and coal-based anything. If these industries shut down in response to a slowing economy NOW and then draconian eco-regs are enacted, then the chant will become “we reduced coal emissions by 58%, let’s keep going!” and these industries will ratchet down another couple of notches. Permanently.
After everything they've been through that's the last thing they need.
No, but I'm going to buy Rearden Metal!
Obamanomics turns U.S. Steel into a penny stock.
Sad. And I hear Bambi is trying to run cap and trade through the back door as an amendment to next year’s budget.
Now zero needs to attack the nuclear industry.
That will kill everything Pittsburgh has going for it.
About 16 months ago, I thought that Pittsburgh was going to
explode due to the energy industry and it’s relationship to this area. Now I have fear.
Well, IMO $196 (52-week high) was an utterly absurd price for X. But 91% off that is looking sort of cheap. I’m attracted to X as a trade, though it will probably rattle around down here for a while, perhaps a considerable while.
ping for later
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