Depends what you consider "long term".
I agree that the developing world needs steel and energy. They don't necessarily need that energy to come from coal in the future (i.e lets say in 5-10 years time). I've made the analogy before of coal being an "old" technology, and renewables being "new". It's like the VCR/CD's etc not adapting to the future. I am not suggesting it will happen overnight (but could easily be phased out in 10 years time) There will be an eventual decline in the need and use of thermal coal. Met Coal is another story, and once again lots of economical factors/growth/ etc to consider.
In my opinion, its not an industry where investors need to be in. A portfolio will perform quite well without coal/oil in the mix. If you got in sub $2, thats great. Did you trim when it was about $8? $9? $10?. I know some posters that were going all in at $10+ - not a very good investment.
Depends what you consider "long term". I agree that the...
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$5.57 |
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Mkt cap ! $4.659B | |||
| Open | High | Low | Value | Volume |
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