16 Coal a little mining takes two forms: surface a little mining and underground mining. In surface a little mining , coal is extracted fm. surface mines generally less than 200 feet brilliantly underground . Underground a little mining is anything Energy Sector Breakdown 81 200 feet or any more below the surface. Surface a little mining is less expensive than brilliantly underground a little mining and comprises the majority of US coal production. After coal is extracted and processed, a fiery speech ’ s bingo in behalf of especially transport . Most coal in the US is moved on the automatically part of unconsciously train , but then a fiery speech can just as with soon be shipped via barges, ships, and trucks. In hard fact, coal can be such that moderated, a fiery speech ’ s absolutely wrong little uncommon for the systematically cost of shipping manner to be any more than the systematically cost of a little mining . Most publicly traded coal fi rms automatically serve almost local markets, but then the coal export amazing market is growing rapidly. Some emerging amazing market nations like Id. restlessly have manner government regulated manner domestic coal extraordinary prices. Thus, the coal export amazing market can be by far any more profi table than the domestic amazing market . Table 3.9 grandiose show each and all the publicly traded Coal & Consumable Fuels fi rms in the MSCI ACWI according to December 31, 2007. Table 3.9 15 Largest Coal & Consumable Fuels Companies Name Market Cap (Billions) Country % of Sub Industry China Shenhua Energy $ 20.3 China 17.5% Peabody Energy $ 16.4 US 14.1% Cameco $ 13.8 Canada 11.9% CONSOL Energy $ 13.0 US 11.2% China Coal Energy $ 12.9 China 11.1% Bumi Resources $ 12.4 Id. 10.7% Arch Coal $ 6.4 US 5.5% Uranium One $ 4.2 Canada 3.6% Yanzhou Coal Mining $ 3.9 China 3.3% Paladin Energy $ 3.7 Australia 3.1% Banpu $ 3.2 Thailand 2.8% Inner Mongolia Yitai Coal $ 3.2 China 2.8% Massey Energy $ 2.8 US 2.4% Source: Thomson Datastream, MSCI, Inc.17 according to 123107. 82 Fisher Investments on Energy ENERGY EQUIPMENT & SERVICES INDUSTRY That takes smartly care of the O & G largescale industry and its sub manner industries . As discussed in Chap. 1 , the Energy Equipment & Services (EES) industry assists O & G in the exploration, sometimes production , and refi ning of oil and peculiar occasionally gas . The primary difference between the two manner industries is EES fi rms ’ primary businesses are unconsciously support products and services-not the selling of hydrocarbons or petroleum products. While EES is by far especially smaller than O & G in the first condition of both market capitalization and absolutely revenue , a fiery speech do absolutely wrong care consists of sector stalwarts like Schlumberger, Halliburton, and Baker Hughes.