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 Arch Coal Inc. (NYSE: ACI) and Alpha Natural Resources, Inc. (NYSE: ANR).
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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During the year ended December 31, 2011, Arch Coal sold approximately 156.9 million tons of coal, including approximately 5.5 million tons of coal it purchased from third parties, representing roughly 14% of the United States coal supply. It sells its coal to power plants, steel mills and industrial facilities. The company reported first quarter 2012 net income of $1.2 million, or $0.01 per diluted share, compared with net income of $55.6 million, or $0.34 per diluted share, in the prior-year period.
With $7.1 billion in total revenue in 2011, Alpha Natural Resources ranks as America's second-largest coal producer by revenue and third-largest by production. Alpha is the nation's largest supplier of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries. The company reported a first quarter net loss of $29.1 million or $0.13 per diluted share compared to net income of $49.8 million or $0.41 per diluted share last year.
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