We’ve posted articles about these processes before, here and here. This is 80-year-old technology that has been used in many nations in the past — including our own.
Shen Hua Group Corporation Limited plans to put three liquefied coal projects into production in 2011 and 2012 with a capacity of producing 10 million tons of petroleum a year.
The three projects, in Yulin city of West China’s Shaanxi Province and two in Yinchuan, capital of northwestern Ningxia Hui Autonomous Region, will each be able to produce 3.2 million tons of petroleum a year or 75,000 to 80,000 barrels per day, said Zhang Yuzhuo, vice president of Shen Hua.
Three tons of coal can produce one ton of oil from both the direct and indirect coal liquefaction method.
Zhang said the cost of producing coal by direct liquefaction will not exceed 30 U.S. dollars per barrel, adding that environmental protection costs will account for over 15 percent of the total investment.
According to Zhang, China’s annual liquefied coal could reach 50 million tons in 2020, equaling 20 percent of their total imports, said Zhang.
Even though the Oil Patch Boys are somewhat invested in coal, they’re raking in dollars by the boatload from oil, right now. It’s going to take investment and commitment from forward-looking investors — and, uh — do we still have any of those?
We, the US, should have been building these plants years ago? Why are we so lagging, this seems so logical? $30 per barrel!!!!!! The impact on the economy would be huge!!
No it wouldnt, as the Fuel comapnies WANT MONEY. With a profit of over 10, billion in 1 quarter, and LAST years total of over 300 billion for all of them(this after paying all the bills)… YOU REALLY think, they are going to LOWER the prices.
When 60% of Fuel in this country comes from Canada, We are NOT paying National prices… Most of OUR oil goes to other countries to be sold for EVEN MORE.
With all the land in China, why not look into Bio diesal??
There are enough plants that grow WHILD that can support the process and need little to grow. HEMP comes to mind, and after the process, can be used for clothing.
http://www.artistictreasure.com/learnmorecleanair.html
It is also one of those plant, that replaces Nutrients in the soild rather then TAKING.
I’m not against bio-diesel, I’m just for being self reliant.
Most of the big oil companies have the Homer Simpson mindset, they only worry when the immediate gratification is gone and it’s too late.
They are placing to much, into a product, that REQUIRES a NON-renewable rescource. and the Polution from this plant??
they could hire ALOT of persons, and forest the hills with Hemp plants, and pay them by the bundle.
The process is simple and cheap.
you get cloth and BioDiesal.
Wait a minute, 50 milliom tons of coal leads to about 16 million tons of oil which is 400000 barrels per day. China’s already at 5 million barrels a day, so this isn’t going to change too much, but another 4% helps. Of course when people say that about ANWR, we hear cries of ‘it only produces 6 months worth of oil’
No comments on using HEMP as bio fuel??
WOW…