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Gerry Clinchy
11-11-2011, 12:44 PM
http://www.nytimes.com/2011/11/11/business/energy-environment/coal-project-hits-snag-as-a-partner-backs-off.html?nl=todaysheadlines&emc=tha25

Maybe the govt won't have to spend this $1 billion after all?

The govt loan was to shoulder 80% of the costs of this experiment. The experiment seems valid, but US capitalism has not before been shy in investing in innovation.

One has to ask why the govt would have to subsidize like this? Coal is an abundant fuel & pretty cheap.

This article seems inaccurate in saying that China has large reserves of coal. My understanding was that China does not have large reserves of coal, but rather imports and uses a lot of coal because it is a cheap fuel for their industrial growth.

Sabireley
11-12-2011, 05:25 PM
China has 14% of world coal reserves but uses coal at a 47% comsumption rate.

http://online.wsj.com/article/SB10001424052748704312504575617810380509880.html