Coal Stokes Wall Street Furnaces
High energy prices are powering more than oil and gas stocks.
They are fueling a rally in "alternative" energy companies -- most notably coal producers -- and some related firms as well.
In today's pricing environment, coal companies can charge twice as much for their product as they did just two years ago. Eager customers, particularly domestic power producers and Chinese steelmakers, are lining up to buy high-priced coal that is nevertheless still affordable when compared to oil and natural gas. Coal producers are, in turn, relying more heavily on railroad companies to ship out their supplies. And even ambitious alternative energy companies, seeking to replace traditional fuel sources, have become attractive to some. ...
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