Cool summer could push U.S. coal consumption below 600 million tons—analysts

first_imgCool summer could push U.S. coal consumption below 600 million tons—analysts FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Industry analysts told S&P Global Market Intelligence a projected cooler summer across much of the U.S. could challenge an already struggling coal industry by muting domestic utility demand for the commodity. Coupled with weakening European and Asian thermal coal pricing, a cooler summer resulting in lower energy demand could weigh on the U.S. coal sector, the analysts said.“Every year is important for this industry,” said B. Riley FBR analyst Lucas Pipes. “I think it’s probably fair to say that given the weakness in the seaborne market at this time, stronger domestic demand is maybe more important than let’s say last year because if the export market should continue to stay challenging at current pricing levels, clearly producers have to look more towards the domestic market to balance their sales books.”Todd Crawford, senior meteorologist for IBM Business’ The Weather Company, told S&P Global Market Intelligence that he projects there will be about 9.5% less energy demand on average across the country year over year. Crawford said heavy rain and flooding in the Midwest this spring will likely result in a cooler summer, noting that temperatures in the region and into the Northwest have remained two or three degrees below average in recent weeks. He added the Southeast may have a slightly warmer summer than normal but not a significant increase.“As we look through June, we don’t see a lot of heat through the major population centers, energy demand centers, of the eastern U.S.,” Crawford said. “If there’s any big heat going on in June, it’s going to be of the [Pacific] Northwest.”Andy Blumenfeld, head of Market Analytics at Doyle Trading Consultants LLC, said some power demand data is already reflecting the effect of cooler temperatures heading into the summer. Though the U.S. had strong energy demand this winter, it has declined significantly more recently. Blumenfeld said he thinks coal burn will decrease significantly this year compared with 2018, dropping by much as 40 million tons to less than 600 million tons, a record low over the last several decades.Blumenfeld added the potential for increased summer demand from the international market could help domestic producers, given the increased use of air conditioning in other nations outside the U.S., especially in Asia. “If we do see a spike in demand that certainly will help, so that’s possibly a good-news scenario that comes out of this,” he said, “but so far we’re not seeing it in the forward pricing to a great degree. There is some upward lift, but it’s still pretty low.”More ($): Cooler summer may limit domestic opportunities for struggling coal sectorlast_img read more

Machete-Wielding Robber Hit 2 Shops in 20 Minutes, Cops Say

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A masked robber armed with a machete held up an ice cream store about 20 minutes after he unsuccessfully tried to stick up a doughnut shop about five miles away, Nassau County police said.The machete-wielding robber demanded money from the clerks at Dunkin Donuts on Merrick Road in Seaford, but the victims told the assailant that there was no money and the suspect fled empty handed at 9:12 p.m. Wednesday, police said.Then, at 9:43 p.m., a robber with a similar description who was armed with a machete demanded money from a clerk at the Carvel on Northwest Drive in South Farmingdale, police said. The victim handed about $40 from his tip jar to the robber, who then fled the scene, police said.In the first case, the suspect was described as 5’7” tall, wearing a black hat, dark-colored jacket, blue jeans, black and white sneakers and black gloves. In the second case, the suspect was described as wearing a dark gray jacket, a black ski hat, white sneakers and a dark gray scarf covering his face.Detectives request anyone with information regarding this incident to call Crime Stoppers at 1-800-244-TIPS. All callers will remain anonymous.last_img read more

Nolan Arenado says next Cubs-Rockies series could get ‘spicy’

first_img“We hit Bryant twice yesterday, buzzed his tower there, 1-1 pitch, so I kind of had a feeling it was going to happen,” Arenado told reporters after the Cubs’ 10-1 win Wednesday. “I just thought it was high, that was it.”Here’s Nolan talking about getting hit today via @ATTSportsNetRM. #Rockies— Michael Spencer (@MichaelCBS4) June 12, 2019Arenado was clearly miffed when he was hit with the pitch and let Hamels know about it.Here’s Nolan Arenado getting hit by a pitch. He was later removed from the game.— Jake Shapiro (@Shapalicious) June 12, 2019He left the game with a forearm bruise soon after.No one was ejected, but there was discussion between both teams surrounding the beanballs.It’s something Arenado and Colorado won’t soon forget. The Cubs-Rockies series is over but, at the same time, it isn’t.Chicago and Colorado seemed to throw as many balls at each other this week as they did to home plate as Kris Bryant, Nolan Arenado, Cole Hamels and Anthony Rizzo were all hit by pitches. It all started when Bryant was hit a couple of times and peaked when Arenado had to leave Wednesday’s game after taking a pitch to his elbow.He said he knew it was going to happen after all of the beanballs that were already thrown in the series. Related News MLB wrap: Mets, Yankees trade double-digit scores to split doubleheadercenter_img When asked if the two teams were to meet again this season what that series would be like, Arenado was creative.”It would be a spicy series,” he said.The only time the two teams could meet up again this season would be in the playoffs. MLB trade rumors: Padres could make closer Kirby Yates availablelast_img read more