(Source: Investing Daily, January 16, 2013)
The North American railroad business is in a state of transition. That’s because its long-time economic mainstay — coal — is declining in use as power utilities switch to cheaper natural gas.
Speeding that changeover along are tighter environmental regulations, which are placing strict limits on carbon emissions from power plants. At the same time, economic weakness in Europe and elsewhere is weighing on demand for metallurgical coal, which is used in steelmaking.
Full story: Investing Daily