Sens. Bunning and Obama push CTL
ARLINGTON, Va., March 8 (UPI)
U.S. Sen. Jim Bunning, R-Ky., called for increased invesment in coal-to-liquid technology at the U.S. Energy Forum in Arlington, Va. "Scale of investment, uncertainty in oil prices and a complicated environmental permitting process have prevented the industry from taking root in the United States," Bunning said.
Bunning and Sen. Barack Obama, D-Ill., co-introduced a bill in January called the Coal-To-Liquid Fuel Promotion Act of 2007. It would allow the Department of Energy to provide loan guarantees for construction, planning and permitting of CTL plants. It would also expand investment tax credits and provide the Department of Defense funding and authorization to purchase, test, and integrate these fuels into the Strategic Petroleum Reserve and military fuel supplies. ...
The synfuel made from coal is low in sulfur, nitrous-oxide and partical emissions. Another benefit to the military is that the lower burning tempture reduces the heat signature of jet engines.
The most important reason to invest in CTL, Bunning said, is that its "a secure domestic fuel source and the American economy and military are too reliant on foreign fuel sources."
I'm for the loan guantees, but we do not need the subsidies provided by investment tax credits. There should also be a clause that requires the CO2 produced by the CTL process be sequestered.