Coal will be the end of us. It is that simple, if we keep burning coal, our society, and the earth as we know it will end. This will most likely result in the massive loss of human life (think billions dead) and a fair amount of damage to the earths ecosystem…but hey it’s so profitable! I actually got sent this in my email (guess they don’t read this site)…seems that if coal’s sales go down, they will just jack up the price. This is actually a good thing, because wind and solar “fuel” always stays the same price. The more expensive coal and oil gets the better off renewable energy is. Seems they might be having a bit of trouble…good. The sooner people stop working for big coal and transition to clean renewable energy jobs, the better. The people of Appalachia have suffered long enough under the greedy hands of the coal barons.
It is rather interesting to see that the price of coal seems to be going up 16-20% per year…did I mention that wind and sun are free and never change price?
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NATIONAL COAL CORP. REPORTS SECOND QUARTER 2009 RESULTS
* Second quarter revenues increased 11.7% to $35.3 million from $31.6 million during the year-ago quarter.
* Tons of coal sold decreased 3.2% to 457,082 tons, from 472,216 tons during the year-ago quarter, with a significant drop of 24.1% in Alabama tonnage.
* Average price per ton increased 16.8% to $75.15 from $64.32 in the same year-ago quarter.
* For the six months ended June 30, 2009, net cash flow provided by operating activities was a positive $2.5 million versus a negative $5.8 million during the year-ago period.
* On July 21, 2009, National Coal of Alabama (NCA) defaulted on its $60 million credit facility, and as of August 3, 2009, the lender foreclosed on NCA. As of June 30, 2009, National Coal of Alabama accounted for approximately 56% of National Coal Corp.’s debt and liabilities, approximately 39% of its consolidated revenues for the six months then ended, and about 17% of its December 2008 total reserves.
read the rest of there report below.
Continue reading National Coal Publishes Earnings Reports: Are We Winning?