Coal Touted As Alternative To Oil

Oil run-up carries two local coal stocks higher
By Gregory Cancelada
Of the Post-Dispatch
07/03/2005

Record-high oil prices may be hurting consumers and many businesses, but the prices also juiced up the stock performance of a few St. Louis area companies during the first half of 2005.
The area’s two coal companies were among the top 10 local stock performers: Creve Coeur-based Arch Coal Inc. climbed 53 percent since the end of 2004, while St. Louis-based Peabody Energy Corp. rose 29 percent.

“Since crude oil is $60 per barrel now, people are looking at alternative power sources,” said Tom Leritz, a portfolio manager at Argent Capital Management.

At the same time, the coal industry has benefited from the George W. Bush administration’s favorable view toward that energy source and new technology that burns coal more efficiently and cleaner, he said.

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