Vietnam Cutting Coal Exports, May Eliminate Entirely

Bloomberg put out a story on Friday that Vietnam will be sharply cutting its coal exports and may eventually end exports of the energy resource entirely. This will first and foremost hit some of the local Chinese power companies, who have relied on Vietnamese coal to fuel their plants. Asian coal prices were up nearly 10% in Asia on this and other supply shortage news.

I purchased Consol Energy (NYSE: CNX) for the year long contest last week, so that is good, but this may not be the best news for my recent look at Progress Energy (NYSE: PGN).