Frydenberg’s coal bubble needs to burst

Frydenberg said he wants to “dispel the fallacy” that the sector is in trouble, but his spin rings hollow. Net profit margins among producers of iron ore, coking coal, thermal coal, and liquid natural gas speak much louder of what’s actually happening. So do the vast recent coal and gas investment write-offs by BHP Bilton, Anglo American, Peabody Energy, Glencore, and Rio Tinto, not to mention the collapse in the stock prices of these companies…“Fallacy” is not the problem.

>more> RenewEconomy

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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