Jim Cramer's Sell Block: The Death Of Coal
Posted on December 06, 2007 at 19:04 PM EST
An energy bill that passed Thursday has Cramer talking the death of coal. The bill requires coal sequestration and this will dramatically increase the total cost for burning coal. Coals time looks to be over also with all the current "green" trends, Democrats targeting the fuel and Google Inc. ( GOOG ) along with them. Peabody Energy Corporation ( BTU ) was called a sell and what better time than when it is at its 52 week high. All the coal must go according to him: Arch Coal Inc. ( ACI ), International Coal Group Inc. ( ICO ) and Massey Energy Company ( MEE ). Natural gas should fill in here and in 2008 it looks to be a big year. Profits from BTU should be used to buy XTO Energy Inc. ( XTO ), Apache Corporation ( APA ), Anadarko Petroleum Corporation ( APC ) or ConocoPhillips ( COP ).