There's a confluence of factors that makes me think energy prices will remain high this year and the price curves for things like natural gas indicate that.
1. Reduced supply and most energy companies are focusing on debt reduction and shareholder returns instead of new developments.
2. Major economies had large draw downs in energy reserves and they are trying to restock even while energy demand is expected to grow 5% this year.
3. Geo-political uncertainties.
It could be longer than two quarters of really good income although > $200 coal may not last.
Ann: Quarterly Activities Report, page-14
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