King Coal was knocked on its heels nearly 20 years ago by a one-two punch: strict environmental regulations and the collapse of oil and gas prices. Many mine operators failed, but the biggest weren't knocked out. Forced to cut costs, they consolidated their holdings, boarded up money-losing mines, and upgraded their technology. Now, even though the hard black stuff is a pariah in environmental circles, coal's prospects are rebounding. High gas and oil prices are making low-cost coal increasingly attractive, even with the added cost of cutting emissions.
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