It's going to be fine for coal producers outside the US, as usual we just have to wait it out. People will wake up to the US anomaly eventually.
Energy stocks were among the top decliners on the S&P 500, with coal miners and natural-gas producers some of the worst hit amid losses for the broad U.S. stock market.
Coal producer Peabody Energy Corp. BTU -9.33% shares were the top losers on the S&P 500, and rivals posting even steeper losses.
Peabody lost 7%. James River Coal Co. shares JRCC -30.00% declined 24%, while Arch Coal Inc. ACI -13.40% shares declined 11%.
Consol Energy Inc. CNX -5.72% shares retreated 5.5%.
The National Mining Association recently said the EPA under President Barack Obama, reelected Tuesday, has pursued a “virtual moratorium” on coal-mining permits.
Analysts had also predicted coal stocks would perform better under the energy policies of a Romney administration than a second Obama administration, which continues to back the development of alternatives to fossil fuels.
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