Count me among those rejoicing:

Citigroup analyst John Hill downgraded coal company stocks across the board in a report this week, saying that expected U.S. greenhouse gas regulations on coal, which emits more of the main heat-trapping gas carbon dioxide than any other fuel, paint a bleak outlook for the sector.

Downward pressure on stock prices by a current U.S. coal oversupply could last for more than a year, he wrote. If that happens it could coincide with 2008 presidential campaign politics, in which a national plan to limit greenhouse emissions is expected to figure prominently.

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“Election politics are likely to turn progressively more bestial for coal,” Hill wrote. Candidates from both major parties favor putting national limits on greenhouse gases.

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“Prophesies of a new wave of coal-fired generation have vaporized,” Hill wrote. And technology to capture and bury CO2 at power plants may play a role in coming years, but remains expensive and elusive.

Couldn’t have happened to a nicer industry.

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