Word: synfuels
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Dates: during 1980-1989
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Within the Reagan Administration, Budget Director David Stockman and Energy Secretary James B. 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...
...July, Edwards was on the verge of awarding $3.5 billion in loan and price guarantees for three synfuel 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...
...executives say that synfuel development will now be easier because the red tape attached to Government subsidies under the Carter Administration has largely been removed. Explains J.F. Trautschold Jr., general manager of Mobil's synfuels division: "If we had solicited money from the Government, we would have had to hire probably ten more auditors just to meet the Energy Department's demand for information...
Reagan has not yet decided on many key details of his energy program, including how to restructure the Department of Energy and whether to cut back the $20 billion synfuel development program. When he does, he will find a fairly cooperative Congress eager to study his proposals. The Republican-dominated Senate is likely to revise some pollution regulations and to open up more public lands to coal mining and oil exploration. Republicans also have an ideological majority in the House, where 40 Southern Democrats often vote with them on energy issues. Nonetheless, a few of the more controversial aspects...
Solar energy, however, is still thought of as the energy source of visionaries and flakes. While synfuels and fusion are celebrated, solar is scoffed at and insulation programs are considered as afterthoughts. This winter there are millions of Americans who could benefit from national insulation and solar development programs. Instead the only ones who will benefit from the national energy policy are the corporations and scientists in the fields of synfuel and fusion