CONSOL Energy Inc.'s Board of Directors has approved a 2012 Capital Budget of $1.7 billion , an increase from $1.4 billion invested in 2011. The budget includes $720 million for coal, $755 million for gas, $135 million for water, and $110 million for other.

"This budget reflects our desire to create shareholder value by investing in our highest rate of return projects: our organic opportunities in coal, gas, and liquids" commented J. Brett Harvey , chairman and CEO. "We are, however, entering a year with an unusual amount of uncertainty. ...