“Peak coal” is here. Goldman Sachs released a September 22 research note that predicted that coal will decline and never come back. “Peak coal is coming sooner than expected,” the investment bank concluded. “The industry does not require new investment given the ability of existing assets to satisfy flat demand, so prices will remain under pressure as the deflationary cycle continues.” The conclusion is a stunning one, especially considering the years of predictions that coal would climb inexorably as developing…

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