In mid-June CAPP released its annual Crude Oil Forecast, Markets and Transportation study. It is actually pretty good news considering the current state of the industry because it shows continued production growth through 2030.
Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.
The Brexit vote to leave the E.U. is bullish for gold as it creates uncertainty but the real driver for the long term gold price is currency devaluation, which is happening now globally at an unprecedented rate as most countries attempt to lessen the value of their debt.
It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.
It is an open secret that the global electric power industry of which the coal industry forms a part is experiencing a system-wide reduction in both volumes and prices of energy resources.