Chuck
September 17th, 2005, 09:13 AM
FRANKFORT — Clean coal technology could make the U.S. less dependent on foreign oil and turn Kentucky into a key player in the nation's energy needs, lawmakers heard today.
The General Assembly's Special Subcommittee on Energy heard testimony from Randy Eminger of the Center for Energy and Economic Development. "Kentucky is the OPEC of coal," Eminger said, referring to the cartel that controls most of the world's oil supply and prices.
Technology exists to turn coal into gasoline and other energy needs, Eminger said, but its cost effectiveness is poor compared to oil. With oil prices near $70 per barrel, however, small gains in efficiency can make coal a vital source for the nation's energy.
If coal were to take a more prominent role in our nation's energy plan, the U.S. would be less reliant on the Middle East and unstable countries in Africa and South America for such basics as motor fuel and heating gas.
"In the name of national security and in the name of stabilizing our economy Kentucky is well-positioned to advance with these types of technologies," said Sen. Katie Stine, R-Ft. Thomas. "As the cost of oil goes up these technologies become much more realistic and economical in the long run."
In addition to cost concerns, clean coal technology must be improved to meet future EPA requirements. Lawmakers heard a presentation on the latest trends in clean coal, including a zero-emissions coal-based power plant named PowerGen. Several states, from West Virginia to Montana, have already approved legislation to lure the $1 billion project to their state. Such a facility would virtually eliminate mercury and carbon dioxide emissions, making the state that lands PowerGen the hub of clean coal technology.
The General Assembly included tax credits for clean coal technology as part of its 2005 tax modernization package. The credits are an incentive for energy companies to pursue clean-coal technology.
The General Assembly's Special Subcommittee on Energy heard testimony from Randy Eminger of the Center for Energy and Economic Development. "Kentucky is the OPEC of coal," Eminger said, referring to the cartel that controls most of the world's oil supply and prices.
Technology exists to turn coal into gasoline and other energy needs, Eminger said, but its cost effectiveness is poor compared to oil. With oil prices near $70 per barrel, however, small gains in efficiency can make coal a vital source for the nation's energy.
If coal were to take a more prominent role in our nation's energy plan, the U.S. would be less reliant on the Middle East and unstable countries in Africa and South America for such basics as motor fuel and heating gas.
"In the name of national security and in the name of stabilizing our economy Kentucky is well-positioned to advance with these types of technologies," said Sen. Katie Stine, R-Ft. Thomas. "As the cost of oil goes up these technologies become much more realistic and economical in the long run."
In addition to cost concerns, clean coal technology must be improved to meet future EPA requirements. Lawmakers heard a presentation on the latest trends in clean coal, including a zero-emissions coal-based power plant named PowerGen. Several states, from West Virginia to Montana, have already approved legislation to lure the $1 billion project to their state. Such a facility would virtually eliminate mercury and carbon dioxide emissions, making the state that lands PowerGen the hub of clean coal technology.
The General Assembly included tax credits for clean coal technology as part of its 2005 tax modernization package. The credits are an incentive for energy companies to pursue clean-coal technology.