RE: RE: Bowie has got to be getting hit also, “At least 300 jobs have been lost from mines in Montana and Wyoming since early 2012, according to preliminary data from the Mine Safety and Health Administration.” Trying to put this into perspective, is 300 coal jobs lost over 2 years and two states very significant? Does not L and L itself employ 1,000? The lost jobs are unfortunate but I like the fact the US is market for coal is waning while the world market is taking off.
“Paradoxically, out-of-work miners in Montana and Wyoming are scrambling for new employment even as global coal markets enjoy a heyday. Driven by Asian demand, experts say, coal is projected to challenge oil as the world's top energy source within the next four years. The sole exception will be in the U.S” Of course this bodes well for L and L.
“But Ambre's plans to build and expand West Coast ports to load the fuel onto ships have become entangled in political opposition and bureaucratic red tape, forcing the company to push back its timeline to begin operating” Another good thing for L and L and China: This should help to keep coal demand verse supply up prices.
“Despite the logistical hurdles, some of the basin's coal is making it to overseas markets by squeezing through the limited West Coast port capacity already available. But analysts and industry observers say those routes have essentially maxed out.” "Unless you can send (coal) by Federal Express, the export market can't take off," said Montana's former governor, Brian Schweitzer.” L and L IR told me the same thing a few weeks ago: that the west coast ports are to full for many including Bowie to squeeze into.” Probably a good thing for L and L and it certainly helps to keep demand for coal greater in China.
Very nice and very very very enjoyable article. Cheers!