Word: coaling
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Dates: during 1980-1989
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...Edwards are locked in a megabuck battle over the synfuel program. Stockman argues that synfuels will not make a significant contribution to American energy supplies for decades to come, and that private industry, rather than the Government, should pay for the development of projects to turn shale and coal into synthetic oil and natural gas. Edwards, on the other hand, maintains that synfuels will never become viable without Government support because private companies will not spend the billions of dollars needed for the risky programs. The Energy Secretary also insists that synfuels are needed to decrease American dependence on Middle...
...final touches to an ambitious $88 billion program for the development of synthetic fuels. Carter's grand design would have produced the equivalent of 2 million bbl. of oil per day, an amount equal to almost 40% of current petroleum imports, from abundant American supplies of shale and coal. But now there are major doubts about the whole future of synthetic fuels. Some Reagan Administration officials argue that private industry does not need Government help to develop new energy sources, and lower oil prices are weakening the incentive to produce the expensive petroleum alternatives...
...projects when Stockman tried to cut off the money. After bitter private discussions, the two men had to take the issue to the President for a decision. Reagan surprised some of his closest staffers by agreeing to go ahead with $3.1 billion in loan guarantees for the Great Plains coal gasification project in Beulah, N. Dak., and the Colony shale oil venture near Parachute, Colo. Washington also authorized spending up to $400 million to guarantee the price of oil produced from shale by the Union Oil Co. near Parachute Creek, Colo...
While the Government puzzles over synfuels policy, many projects are falling by the wayside. For instance, a proposed coal liquefaction plant in Morgantown, W. Va., that was to have been built by the U.S.. West German and Japanese governments was dropped after estimated development costs rose in less than a year from $750 million to $1.5 billion...
...Sohio, are investing heavily in synfuels. Says Clifton C. Garvin. chairman of Exxon, which has committed $1 billion to such projects worldwide: "By the turn of the century, we think this country will get about 4 million or 5 million barrels a day of liquids from shale oil and coal. It's prudent to develop a reasonable-sized synthetic industry, in part because of national security, and in part because of economics...