This post was originally published on this site
In addition Democratic Senator Joe Manchin from West Virginia has said no to the Biden administration’s proposed Build Back Better bill, which contains $555 billion spending to shift the country toward renewable energy sources. Manchin’s negative position is aligned with his state’s coal interests. Gregory Wetstone, President and Chief Executive of the American Council on Renewable Energy, said, “All of the prior conversations had been along the lines that he did not want to penalize fossil fuel.”
Coal prices are at $149 per ton, up 121.2% this year. Therefore, we think coal stocks with sound fundamentals, China Shenhua Energy Company Limited (CSUAY), SunCoke Energy, Inc. (SXC), and Hallador Energy Company (NASDAQ:HNRG), might be ideal additions to one’s portfolio this winter.
