17 September 2008 20:45 [Source: ICIS news]
BOSTON, Massachusetts (ICIS news)--The rapid expansion of coal use is the only viable solution for the US to deal with high crude oil and natural gas prices, Andy Weissman, senior energy advisor at FTI Consulting, said on Wednesday.
"Coal is the only resource that can effectively fill the energy supply gap. It is the most abundant US energy resource," Weissman said at the Chemical Purchasing Summit, organised by ICIS and Purchasing magazine.
"Coal-to-liquids and goal gasification plants can be readily adapted to produce an exceptionally broad range of feedstock," he added. "This potentially provides a major competitive advantage for US industry."
The US has 250bn tons (227bn tonnes) of recoverable coal reserves - 27% of the world's total and equivalent to over 500 years of current Middle East imports, Weissman said.
"This can be developed at a reasonable cost with ultra-low emissions, especially if the development of carbon-capture and storage technology is sped up," he said.
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