Lower Demand Brings a "Rebalancing" to the Coal Market
Posted on September 11, 2009 at 01:00 AM EDT
SUGAR LAND--September 11, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--At the recent Barclays Capital 2009 CEO Energy/Power Conference in New York, New York, Steve Leer, Chairman and CEO of Arch Coal Incorporated (NYSE:ACI) (St. Louis, Missouri) stated that 2009 would bring an unprecedented decline of coal consumption in the U.S. This reduced demand has been caused by a number of factors, including mild weather this year and market share being taken by natural gas. Leer said that he believed about 25 million tons of coal had been displaced by natural gas.