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The Texas researchers, who worked on the project for about 18 months, expect the cost to drop further. "We're improving the cost every day. We started off some time ago at an uneconomical $17,000 a barrel. Today, we're at ... $28.84 a barrel," Rick Billo, UTA's dean of engineering, told an Austin television reporter.
Texas lignite coal sells for $18 a tonne. The coal conversion technology uses one tonne of coal to produce 1.5 barrels of crude oil. One barrel of crude produces 42 U.S. gallons of gasoline. In other words, $18 worth of coal yields 63 gallons of gasoline: 0.28 cents a gallon.
Process can also be applied to oil & tar sands, we have trillions of ballels of reserves. Oil is currently selling for $80/bbl.
With Breeder reactors we can produce electricity cleanly why are we destroying our economy?
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
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Process can also be applied to oil & tar sands, we have trillions of ballels of reserves. Oil is currently selling for $80/bbl.
With Breeder reactors we can produce electricity cleanly why are we destroying our economy?
This "sounds" awesome! The only thing that concerns me is that coal is at $18/ton now, but if this technology were to be successful, it would drive demand for coal sky-high and the price per ton would quadruple quickly.
Re: Texas university has eureka moment for coal-to-gas
Quote:
Originally Posted by PatriotsReign
This "sounds" awesome! The only thing that concerns me is that coal is at $18/ton now, but if this technology were to be successful, it would drive demand for coal sky-high and the price per ton would quadruple quickly.
Nothing is that easy PF13.
True that however we should move to nuclear plants to generate electricity. This would reduce coal demand. Also the supply of coal is plentiful which also would contain the costs involved. The supplies of coal and tar sands available for conversion is in the trillions of bbls enough for hundreds of years (hopefully someone figures out fusion along the way).
Given the differential between the $28/bbl from this process and $80/bbl crude price, there is a lot of room to deal with process cost and increases in coal/tarsands cost. $50/bbl oil would be a huge boon for the economy and would castrate certain enemies of this country economically.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
Re: Texas university has eureka moment for coal-to-gas
Quote:
Originally Posted by patsfan13
True that however we should move to nuclear plants to generate electricity. This would reduce coal demand. Also the supply of coal is plentiful which also would contain the costs involved. The supplies of coal and tar sands available for conversion is in the trillions of bbls enough for hundreds of years (hopefully someone figures out fusion along the way).
Given the differential between the $28/bbl from this process and $80/bbl crude price, there is a lot of room to deal with process cost and increases in coal/tarsands cost. $50/bbl oil would be a huge boon for the economy and would castrate certain enemies of this country economically.
I agree it has huge potential...but I'll hold off on getting too excited until I see it become reality.
Re: Texas university has eureka moment for coal-to-gas
They spend not much more than $10 per barrel to find it and pump it out in the Middle East. So those guys ain't going anywhere as oil producers.
Hopefully this will bring the price down and drive a serious economic expansion in, I'd guess, a decade or so assuming they can carry the tech out of the lab and into the field.
Its nice to think I'll never have to ride a horse to work, though.
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Give a man a gun and he can rob a bank, give a man a bank and he can rob everyone.
Re: Texas university has eureka moment for coal-to-gas
Quote:
Originally Posted by sdaniels7114
They spend not much more than $10 per barrel to find it and pump it out in the Middle East. So those guys ain't going anywhere as oil producers.
Hopefully this will bring the price down and drive a serious economic expansion in, I'd guess, a decade or so assuming they can carry the tech out of the lab and into the field.
Its nice to think I'll never have to ride a horse to work, though.
Re: Texas university has eureka moment for coal-to-gas
Side benefit where do the rare earth minerals needed for hybrid car batteries come fom> China.....
This is a technology we shold be funding to see how rapidly it can be deployed.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
Texas university has eureka moment for coal-to-gas
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