About the only good news in the coal industry since George Bush was president has been the spike in the metallurgical coal market. While a lot of folks are hanging their hats on an improving domestic steel industry being an indicator of an improving economy, which would mean happy days in the coalfields could be just around the corner, not everybody is buying it. One transportation source said the met coal boomlet is just that, a boomlet and not a boom - at least where U.S. internal demand is concerned. While the source said he's not a pessimist nor is he trying to be Buzz Killington, he doesn't have a lot of faith in steel rebounding for the long term.
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