By 2017 Coal Projected to Rival Oil as World's Top Energy Source
The Paragon Report Provides Stock Research on Arch Coal and James River Coal
NEW YORK, NY -- (Marketwire) -- 01/10/13 -- After a dismal 2012, the Coal Industry looks to be on the upswing as a recent report from the International Energy Agency predicts global coal demand over the next five years to grow at an average of 2.6 percent a year. The Market Vectors-Coal ETF (KOL) has gained nearly 7 percent over the last month. The Paragon Report examines investing opportunities in the Coal Industry and provides equity research on Arch Coal Inc. (NYSE: ACI) and James River Coal Company (NASDAQ: JRCC).
According to the IEA's Medium-Term Coal Market Report by 2017 coal is expected rival oil as the as the world's top energy source. Coal's global growth is largely dependent on Chinese demand, as China has surpassed Japan as the world's largest importer of coal.
"This report sees that trend continuing. In fact, the world will burn around 1.2 billion more tons of coal per year by 2017 compared to today -- equivalent to the current coal consumption of Russia and the United States combined. Coal's share of the global energy mix continues to grow each year, and if no changes are made to current policies, coal will catch oil within a decade," said IEA executive director Maria van der Hoeven.
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Arch is the most diversified American coal company with mining complexes across every major U.S. coal supply basin. In total, the company represents 15 percent of America's coal supply, and controls a vast domestic reserve base totaling 5.6 billion tons. The company recently named Russ Lorince as vice president of external affairs for the company's eastern region.
James River Coal Company is one of the leading coal producers in Central Appalachia and the Illinois Basin. The company sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally. As of December 31, 2011, the company controlled 362.8 million tons of probable coal reserves.
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