Overtaking Oil?
Tuesday, July 1, 2008
The price of coal continues to rise. Investors are hunting the commodity and consumers are starting to panic.
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THE record prices seem to be never-ending at Newcastle Port, Australia. Here on the coast of the state of New South Wales, where 1,500 carrier ships dock every year, coal prices jump every week. On Friday last week, the price of coal on the Newcastle index reached US$172.10 per ton, up US$9.44 from the previous week.
While these prices are getting producers very excited, they are, however, also leaving a bitter taste in the mouths of consumers. Be
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