{"id":581,"date":"2014-10-24T13:16:25","date_gmt":"2014-10-24T17:16:25","guid":{"rendered":"http:\/\/olduvai.ca\/?p=581"},"modified":"2014-10-24T13:16:25","modified_gmt":"2014-10-24T17:16:25","slug":"falling-coal-prices-wreaking-havoc-with-corporate-balance-sheets","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=581","title":{"rendered":"Falling Coal Prices Wreaking Havoc With Corporate Balance Sheets"},"content":{"rendered":"<p><a href=\"http:\/\/oilprice.com\/Energy\/Coal\/Falling-Coal-Prices-Wreaking-Havoc-With-Corporate-Balance-Sheets.html\">Falling Coal Prices Wreaking Havoc With Corporate Balance Sheets<\/a>.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">The slide in oil prices has raised speculation that oil companies in the U.S. could be forced to cut back on production, but a market slump in another commodity is also putting pressure on producers.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">Coal markets are currently experiencing a supply glut that is showing no signs of recovery. Mining companies drew up plans for billion-dollar projects in the mid-2000s, when commodity prices were on the upswing. With many of those projects now coming online, coal production is rising.<\/p>\n<p><span class=\"Apple-style-span\" style=\"color: #393939; font-family: Arial, Tahoma, Verdana, Helvetica, sans-serif; font-size: 14px; line-height: 20px;\"><\/span><span class=\"Apple-style-span\" style=\"color: #393939; font-family: Arial, Tahoma, Verdana, Helvetica, sans-serif; font-size: 14px; line-height: 20px;\">BHP Billiton, an Australian mining giant, just opened a\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.bhpbilliton.com\/home\/investors\/news\/Pages\/Articles\/BHP-Billiton-Opens-Caval-Ridge-Metallurgical-Coal-Mine-in-Central-Queensland.aspx\">$3.4 billion mine in Queensland<\/a>, which will add 5.5 million tonnes of coal capacity per year to the global market. The mine allowed BHP Billiton to push its\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/online.wsj.com\/articles\/miners-shovel-coal-into-flooded-market-1413964323\">production to record levels<\/a>. Australian Prime Minister Tony Abbott was on hand for the ribbon-cutting ceremony, where he\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.theguardian.com\/world\/2014\/oct\/13\/tony-abbott-says-coal-is-good-for-humanity-while-opening-mine\">proclaimed<\/a>\u00a0\u201ccoal is good for humanity.\u201d<\/span><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Falling Coal Prices Wreaking Havoc With Corporate Balance Sheets. The slide in oil prices has raised speculation that oil companies in the U.S. could be forced to cut back on production, but a market slump in another commodity is also putting pressure on producers. Coal markets are currently experiencing a supply glut that is showing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[41,147,148,594,834],"class_list":["post-581","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-australia","tag-coal","tag-coal-production","tag-oil-prices","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=581"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/581\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}