Senator Rockefeller supports building coal-to-liquid (CTL) projects in the United States. Senator Rockefeller introduced the Future Fuels Act of 2008 and described the act as part of America’s solution for energy independence and national security.

Senator Rockefeller acknowledges the environmental challenges of coal due to the production of CO2, but also points out that there are environmentally friendly solutions to the CO2 and, first and foremost, the CO2 can be collected and stored in deep geoligical formations (carbon capture and sequestration). He wants the nation to accelerate the development of scientific data regarding CO2 sequestration.

The senator specifically states that CTL technology can be used to produce electricity, chemical feedstocks, diesel and jet fuel. This technology will have a tranformational effect on the United States. The Future Fuels Act of 2008 is designed to bring together the best minds in government and the private sector to develop a road map that will achieve success with this industry.

We have a 250-year supply of coal in America. The Future Fuels Act of 2008 will enable us to more fully develop this resource. The Future Fuels Act will:

>provide $10.3 billion – $8.3 billion in expanded clean coal tax incentives and an additional $2 billion for municipal and cooperative energy providers in clean coal energy bonds.

>provide incentives for coal methanation projects.

>provide a ‘stand-by’ loan program for CTL projects if oil prices drop below price still to be determined.

>provide incentives for the construction of pipelines to transport fuels produced at CTL plants to the marketplace.

>provide an immediate $650 million to national labs to further develop CO2 sequestration research.

>create a corporation that is charged with assisting private corporation with developing new technology to further CTL industry.

Senator Rockefeller stated, “Known American coal reserves can produce electricity at current rates – and be converted to transportation fuels in sufficient amounts to supplant more than the petroleum we import from the Persian Gulf and elsewhere – for two centuries or more. No American president will have to call up the Guard and Reserve to secure the coalfields, and no American parent will have trouble falling asleep because they’re concerned about the safety of their son or daughter in uniform because the people who own the energy don’t much like the American presence near the energy.”