BUFFETT WON’T DIG DEEPER INTO COAL, SHOULD BE LIKE BOONE AND GO FOR GAS
Thursday morning started with rampant rumors that Warren Buffett will invest in coal by orchestrating a Berkshire Hathaway buyout of an big coal miner. Friday the rumors picked up steam. It is no secret that coal is dirty and that generating electricity from coal causes pollution. It is also no secret that natural gas is a lot cleaner than coal. With such an abundance of natural gas in the United States, supply vastly exceeds demand and prices are cheap. In the United States power generation industry, the switching from coal to natural gas is in full swing and likely to accelerate over the coming years.