New York (CNNMoney) – Coal company stocks have taken a hit lately, as a global oversupply and pending climate change rules from the Obama administration weigh on the sector.
The Market Vectors Coal Index ETF is down 17% in the last 30 days. Some individual companies have fared even worse. Shares of Peabody Energy Corporation have plunged nearly 30% from a month ago, as have shares in Yanzhou Coal Mining. Shares in Westmoreland Coal Co. are down about 10%.
Yeah, all you coal investors better start bailing. That's how the free market works. Newer/ better technologies always replace old technologies. Isn't that right conservatives? Capitalism at it's best. It sure will be funny when all you idiot "green energy" haters realize your better off investing in wind & solar. Then, we will only hear how great it is!