During the first televised debate earlier this month, Governor Mitt Romney showed America that he is capable of boosting the performance of an entire industry by simply uttering 6 simple words:
“By the way, I like coal.”
Not only did this comment spring the coal sector to his side literally overnight, it also breathed new life into the battered coal industry – sending stocks higher.
According to Michael Dudas of Sterne Agee, “It’s amazing what words about coal in a presidential debate can do for the stocks. These stocks have been volatile, but you can’t discount what a man running for president said about coal. Call it the Romney rally.”
Keep in mind; this is in stark contrast to President Obama’s stance on coal.
As you probably know, President Obama has been stifling coal with new EPA emission caps and regulations. Falling demand due to the glut in cheap shale gas supplies has decimated the industry as well.
To put it plainly, it’s been tough sledding for coal over the last few months.
But what Romney did in about three seconds on live television, Obama has been unable to do with $90 billion dollars in the last two years with his clean energy initiatives.
While it’s still too early to say how coal will perform in the long-run, Romney’s comments gave both coal and his own approval rating a major shot in the arm.
The presidential race is now tighter than ever.
If Obama wins, the war on coal will probably continue.
But if Romney wins, and if he does deliver on his promise to prioritize coal, the industry has a very bright future ahead of it.
A stronger export market will help to take advantage of growing global demand.
That means he’ll be expected to fast track port expansion projects already proposed to send more domestic coal overseas.
Both voters and investors have shown they are eager and willing to march alongside Romney.
Let’s see if he’s willing to go into battle himself.
for Top Stock Millionaire