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On a day when markets rebounded and the major indexes added about a percentage point, coal stocks couldn’t pull out of their nosedive. Peabody Energy shares dropped 3.2% to $14.54 a share, while Walter Energy finished the day down 11.6% at $10.03 a share as the pain from President Obama’s new climate regulations set in.

Coal investors have endured eye-popping declines in a bull market that until late May had seemingly defied gravity in hitting across-the-board record highs. The sharp drops are tied to fears of how profits will be affected by the cost of the administration’s new rules laid out in President Obama’s speech on climate change.

  • Peabody Energy shares down 49% the past five months, Walter Energy loses 75% of its value the past year
  • Administration looks to end subsidies for overseas plants that don’t use ‘carbon capture’ technology
  • Coal producers warn that new climate changes rule will raise energy prices for consumers

via USA Today.

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