Duke Energy Corp (DUK), FirstEnergy Corp. (FE) & More: Will Obama Put Coal out of Business?

Deep, dark hole
With coal consumption and production in the U.S. on the decline, miners are abandoning the industry en masse. Rio Tinto plc (ADR) (NYSE:RIO) and BHP Billiton Limited (ADR) (NYSE:BHP) have made plans to exit coal mining which has affected the earnings of mining equipment manufacturers like Caterpillar Inc. (NYSE:CAT) and Joy Global Inc. (NYSE:JOY).

When these new EPA regulations take effect and their impact is felt in the coal industry, the reverberations will be like a mine collapse, as miners go bankrupt and jobs are lost. We are witness to the last gasps of a domestic coal industry that’s laid out on its deathbed.

The article Will Obama Put Coal out of Business? originally appeared on Fool.com and is written by Rich Duprey.

Motley Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Dominion Resources (NYSE:D).

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