14 Coal Stocks to Consider Buying Now
February 8, 2010 by Seeking Alpha
Filed under Investment Ideas
Original Article from Seeking Alpha Long Investment
David Hunkar submits:
Coal is the main source of electricity generation in many countries. In addition, coal is used in industrial and other sectors. The global consumption of coal is projected to increase each year by over 1.5% annually.
Saturday Australia signed a $60B deal to supply coal to China for the next 20 years. As part of the contract, each year Australia will ship 30 million tonnes of coal to energy-hungry China. It must be noted that China is the largest consumer of coal in the world and relies on coal to meet 70% of its energy needs.The deal is the largest single export deal ever signed by Australia. Thousands of jobs are expected to be created as a result of this contract.
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