Investng in Coal
- Scottsman
- Member
- Posts: 104
- Joined: Thu. Jan. 31, 2008 11:46 pm
- Location: NEPA
- Hot Air Coal Stoker Stove: Leisure Line Pioneer
- Other Heating: Weil McLain steam oil boiler
I wonder if any of you have thought of investing in coal, and how you would go about it. I'm thinking that investing in a lot of companies is too risky now, but maybe buying shares of coal producing companies makes sense, since we all know that alternative energy just isn't there yet and new nuclear power plants are not yet built. A while back I was going to buy shares of an ETF called Market Vectors Coal (ticker symbol: KOL) because its share price had gone up from $20 to $50 this year, but now it has dropped way down to $12 a share, which was discouraging. As I researched it a little bit, I found that some of the comanies that Market Vectors includes in this ETF are in China, and I'd rather invest in American companies. Any ideas?
- rockwood
- Member
- Posts: 1381
- Joined: Sun. Sep. 21, 2008 7:37 pm
- Location: Utah
- Hot Air Coal Stoker Furnace: Stokermatic
- Hand Fed Coal Stove: Rockwood Stoveworks Circulator
- Baseburners & Antiques: Malleable/Monarch Range
- Coal Size/Type: Lump and stoker + Blaschak-stove size
It may not be too good because of Obamas comments on coal industry.
https://www.youtube.com/watch?v=SMwBbl6RoIs
https://www.youtube.com/watch?v=SMwBbl6RoIs
- Scottsman
- Member
- Posts: 104
- Joined: Thu. Jan. 31, 2008 11:46 pm
- Location: NEPA
- Hot Air Coal Stoker Stove: Leisure Line Pioneer
- Other Heating: Weil McLain steam oil boiler
Yeah. You may be right. I heard that not long ago Al Gore was talking to lots of big New York investors and telling them all to dump their coal assets because there would be a big tax coming (direct or inderect) on the coal industry. I can see where these guys want to curb pollution, but it is problematice when politicians, not consumers shape the economy. They also say they support "Clean Coal", but they never define it.
- Scottsman
- Member
- Posts: 104
- Joined: Thu. Jan. 31, 2008 11:46 pm
- Location: NEPA
- Hot Air Coal Stoker Stove: Leisure Line Pioneer
- Other Heating: Weil McLain steam oil boiler
Yeah. You are probably right. I also head that a few months ago Al Gore was going around to a bunch of big stock portfolio managers and telling them to dump their coal assets now or suffer later when some form of government tax (direct or indirect) on the coal industry ate up all the profits of the coal industry. I can see where these guys want to curb pollution, but it is problematic when politicians, not businesses and consumers are shaping the economy. Also bothers me the way they all say they support "clean coal" but they never define it.