Today, the Financial stocks were in complete meltdown. Stocks like Washing Mutual(WM) were down 35% along with Freddie Mac (FRE) and Fannie Mae (FNM). The one sector that did pretty well today was Coal. And why wouldn't it?
According to newsletter editor Byron King, the future for coal is promising;
“The U.S. Air Force is putting together a program to develop a domestic synthetic jet fuel. Just as the Air Force does not employ many geologists, neither does it run refineries. So the USAF has proposed to lease acreage on its vast land holdings to private industry. The idea is that private investment will build U.S. plants to convert U.S. coal to liquid fuels.
“The U.S. Air Force wants to leverage private industry and capital to construct a synthetic jet fuel industry. And then the USAF will become the final buyer for the product.
“The USAF is among the world’s largest fuel users… it is behind about 10% of all the jet fuel that gets burned in the U.S. So just selling jet fuel to the USAF constitutes a major market.”
In other words, the government is looking to solve a big chunk of our oil dilemma with coal, a naturally abundant resource in the U.S.
Looks like those coal mining stocks should see a light at the end of the tunnel!
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1 comment:
what do you know about any progress that's been made on clean coal? I own BTU and it's done well over the last year, but I heard clean coal is struggling.
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