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U.S. Coal-to-Liquid Plant Nixed, While China Bankrolls New Coal

As we’ve been mapping the shuttering of coal-powered projects here in the U.S., China has been opening, on average, 1.5 GW of coal power plants a week. Yesterday, we noticed a link: An $800 million coal-to-liquids plant planned for West Virginia was nixed due to a lack of available capital (hat tip GreenWire). The plant, which was a joint effort between mining giant Consol Energy (s CNX) and the gasification company Synthesis Energy Systems (s SYMX), was to produce about 100 million gallons of 87-octane gasoline from coal a year. (We’ve added the dead coal-to-fluid plant to our Coal Death Watch map with a new purple pin.)

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So what’s a coal project developer to do? Head to China, apparently. The same day that SES shut down the U.S. project, the Houston-based company announced a new joint venture in China with the YIMA Coal Group. The coal gasification plant, to be located in China’s Henan Province, will cost an estimated $350 million and be financed by Chinese banks. Increasingly, Chinese banks are slashing interest rates in order to attract more foreign investment, so we can likely expect more big energy projects to open up across the Pacific.

3 Responses to “U.S. Coal-to-Liquid Plant Nixed, While China Bankrolls New Coal”

  1. stephen bolen

    This is a travesity, not covered by any of the liberal media. everyone should call their congressmen and take some of those bailout dollars and pay for this and a few like them. still, remember this is very clean except for the carbon dioxide which we havent the technology to fix yet. recall that environmentals are anal about anything to do with global warming regardless of whether our country is destroyed. they want a bag of pot and lower CO2.

    Lets get away from Saudi Arabian investment in our schools and their building of new muslim mosks in our county and send their lobbyists packing. Muslims with oil want to trade their oil for making us think Muslim. Muslims hate Israel and want them destroyed.

    Unless we forget, one of our few real allies is Israel. Obama raised money for enemies of Israel in the past. Will he change? Obama picked an anti israel principal policy adviser for his cabinet, had already picked anti israel jimmy carter’s old defense secretary, now we need to get him to make good appointments that will shore up these energy projects and protect our friends. Recall that the US has had very few friends throughout history unless we gave them more money than did our enemies. Israel will always be our friend unless Obama who has been anti israel destroys this relationship. God help us. God said He will bless those that bless Israel and curse those that curse Israel.

    Support Israel, support coal to petroleum, support research to fix the new projects CO2 emissions. Next, tell everyone by emails, calls to your congressmen, letters to the editors, call, call call.