" Although coal isn't traditionally viewed as "clean," the bill proposes spending almost $7.5 billion on coal projects such as coal-to-liquid and gasification technologies that would produce energy at 20% lower carbon dioxide emissions by storing the greenhouse gas underground.
Specifically, almost $1 billion would go toward clean energy coal bonds; $3.8 billion over 10 years for credits for clean coal facilities; $434 million for accelerated depreciation of CO2 pipeline investments; and credits for CO2 capture. A $10-a-ton credit would be given to firms that stored the CO2 in oil or gas reservoirs, which increases petroleum recovery, and a $20-a-ton credit would be given for permanent storage underground. Also, an alternative fuels credit would be extended 39 months to 2012, costing nearly $1 billion."
Full story here: http://money.cnn.com/news/newsfeeds/articles/djf500/200706191859DOWJONESDJONLINE000814_FORTUNE5.htm
CXY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
