Sunrise, Sunset – What's Up: Solar. What's Down: Coal.

Sunrise, Sunset - What's Up: Solar. What's Down: Coal. by Tom Sanzillo, IEEFA.org

If you follow this blog you already know the storyline on coal. Lost market share and severely depressed values. One headline put it gently last week: “No Near-Term Positive Catalysts.” Another was more blunt: “Run Screaming from the Coal Stock Bloodbath.”

Peabody added to the woe with a distressed-asset sale announcement saying that it had sold the mothballed Wilkie Creek mine in Australia for real cash—$20 million. True to form, the company put some beguiling spin on the news and The Australian picked it up, reporting that the buyer, Sekitan Resources (an as yet uncapitalized company seeking investors to reopen the mine), had announced that...