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Coal Shares Fall as Obama Wins Second Term

Nov 7, 2012

Shares of coal companies including Peabody Energy Corp (BTU.N) and Alpha Natural Resources Inc (ANR.N) fell in premarket trading on fears that President Barack Obama will impose more environmental regulations on the sector following his re-election Tuesday.

The Obama Administration, through the Environmental Protection Agency, had set rules limiting greenhouse gas emissions from power plants. This has forced companies to retire many of their coal-fired plants or install expensive new pollution-control equipment.

Obama's former challenger Republican Mitt Romney, however, had argued that "excessive" environmental regulation has hampered U.S. economic growth.