Coal's Upside? Things Can't Get Much Worse After a Dire 2015
- Best-case scenario is demand flat or slightly up in 2016: BB&T
- 50 million tons of supply cuts needed, Morgan Stanley Says
A bulldozer smoothes a coal pile at a storage yard in Baltimore, Maryland, on Sept. 22, 2015.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Here’s some good news for a downtrodden U.S. coal industry: next year can’t get much worse after a disastrous 2015.
Most utilities that are able to switch to cleaner burning and cheaper natural gas have already done so, resulting in coal losing 10 percent, or 80 million tons, of demand, BB&T Capital Markets said in a report Tuesday.