Far from phasing out coal, Boyce wants to expand use of "clean coal" to solve the energy crisis. "Clean coal" would be scrubbed free of CO2 thanks to carbon-capture technology. Peabody kicked in about $9 million this year to an ad campaign touting "clean coal." Boyce is leading a push for coal that's turned into a liquid — with part of its CO2 captured in the process — to replace gasoline for vehicles and gasified coal to supplant natural gas, though environmentalists criticize the initiatives.
"We wonder why we pay $4-plus for gasoline," says Boyce, moments before holding up a half-inch-long bottle filled with colorless liquid coal. "Coal has to be a big centerpiece of our energy strategy because it's our major reserve base.
"There's a perception out there that coal is dirty, and we have to change that," he adds, noting that coal plants already have cut emissions of some pollutants and boosted efficiency to slash CO2 discharges. "Black is the new green."
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