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Terranova: Election Winner Won’t Help Coal

Following the second debate between President Obama and challenger Mitt Romney , the idea that a win by either candidate would make a difference for the coal industry is nonsense, Joe Terranova of Virtus Investment Partners said Wednesday on CNBC.

On "Fast Money , " he expressed skepticism.

"I don't believe either of them. I don't think whether Romney wins or Obama is re-elected that means it's the robust catalyst for the coal space, " he said. "I think it comes down to higher natural gas prices. I think it comes down to a recovery in Asia. I think that's what matters most. It matters most in terms of utility usage."

Terranova had a thesis for those optimistic for the space.

"If you believe all of that's going to happen, you go to the most diversified coal name there is out there, thermal, met, and that's BTU , " he said. "If you believe in the natural gas story, You could look at a Consol Energy . Beyond that, I wouldn't touch coal."

Stuart Frankel's Steve Grasso disagreed.

"A lot of these coal names are already in the money, " he said, calling out Arch Coal , Cloud Peak Energy and Peabody . "I'm long all of them, and I do think it matters who's the president for this space."

Trader disclosure: On Oct. 17, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long CREE; Joe Terranova is long VRTS; Joe Terranova is long WFM; Joe Terranova is long SBUX; Joe Terranova is long NFLX; Joe Terranova is long SWN; Joe Terranova is long TRV; Joe Terranova is long VZ; Joe Terranova is long XOM; Joe Terranova is long CVX; Joe Terranova is long COP; Joe Terranova is long SU; Joe Terranova is long CSTR; Joe Terranova is long GS; Joe Terranova is long CHKP; Joe Terranova is long SNDK; Joe Terranova is long NXPI; Joe Terranova is long GLW; Joe Terranova is long EMC; Pete Najarian is long AAPL; Pete Najarian is long JPM CALLS; Pete Najarian is long WFC CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Steve Grasso is long ACI; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long BTU; Steve Grasso is long CLD; Steve Grasso is long CLF; Steve Grasso is long F; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN; Josh Brown is long AAPL; Josh Brown is long QCOM; Josh Brown is long IBM.

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