RE:Have a lookHey MS
Just for clarification, Teck mines metallurgical coal for steel making. It is quite different than thermal coal that is used fro electricity. Met coal has generally always been in fairly high demand.
Now, having said that, the Russion coal that is being imoprted by Europe and the likes is indeed thermal coal. It is totally ridiculous that Europe killed its thermal coal industry to then turn around and import from a place like Russia that doesn't give two toots about the environment.
It's very similar to the US trying to kill North American oil production so they can imprort more from Saudi Arabia, Venezuala, Iran, etc that have way lower environmental standards.
The whole green movement is just a bunch of slef-rightieus hyporcrites, (with Trudope being at the nead of the class, followed closely by Biden)..
Ciao
Sarge
marketsense wrote: At WTE over the last year. I switched a little out from ALA to WTE as there is way
more torque in WTE. ALA has done good but WTE hit the jackpot over the oil sanctions
with Russia. Its that dirty old coal business coming back to haunt the likes of Greta and our own JT but countries and industries need cheap sources of energy.
Coal is flying off the shelf as fast as it can be produced. Teck has also scored big being
Canadas major producer. Funny how all the ivory tower eco proponents have gone
kind of silent all of a sudden and dirty oil and dirty coal are in massive demand mode.
They were both shunned as the worst anti ESG on the planet and yet those industries
have made investors more money than any other sector. Life is perverse and investing even more so.
MS