Declining U.S. coal still has bright spots

March 19, 2012

You wouldn’t know it: coal’s share of U.S. power generation has dipped below 40 pct for the first time since 1978. Cheap gas and tougher pollution rules should extend the trend. But investors can still make winning bets if they plan for the industry’s decline.

US natural gas market begins to rebalance

October 1, 2009

Forward gas prices have bounced off their summer lows, as the market looks through record inventories and anticipates a much closer supply-demand balance next year. While the market will not be tight in any sense next year, the extreme stock build and oversupply which has pressured prices this year is unlikely to be repeated.