AEP, Southern Pull Out Of Futuregen 'Clean-Coal' Project -CEOs

Dow Jones Newswires ^ | June 25, 2009 | Mark Peters and Cassandra Sweet, Dow

[JavaJumpy]

American Electric Power Co. (AEP) and Southern Co. (SO) are pulling out of Futuregen, a U.S. government-backed project to capture and store the greenhouse- gas emissions from a coal-fired power plant, the companies' top executives said Thursday.

The companies, two of the biggest coal-burning utilities in the U.S., are exiting the Futuregen Alliance just weeks after it won renewed support from the federal government. The Obama administration earlier this month all but guaranteed almost $1.1 billion for the project, to be based in Mattoon, Ill., reviving a project that had suffered a major setback in early 2008 when the Bush administration backed out of funding plans after costs almost doubled. The companies' departure from the alliance was reported earlier by Bloomberg News.

[bmwcyle]

It is a stupid and costly idea just to please idiots.

[WVNan]

Hmmmmmmm....AEP has one of those projects about 20 miles from me. Wonder what’s up with this.

[taildragger]

I heard in casual conversation of a nano-tech scrubber from a major university incubator/spin off that makes coal emissions nothing but water and air. They are dying on the vine waiting for about a 500 million in VC.

How many more projects wither will say "no mas" as republicans/conservatives take capital off the table and go quasi-galtish.....

[SonOfDarkSkies]

Bump

[JavaJumpy]

Thanks for the correction.

[not2worry]

Interesting that the project was in State of Illinois.

I wonder who the general contractor was.....I bet a BIG Obama supporter was going to build the thing or one of his minority underling companies.

[mozarky2]

I work for AEP in NW Arkansas. That’s an experimental technology we’re working on. Dunno if any gov money is involved, though...

[woofer]

I wonder who the general contractor was.....

I don't think that that has been awarded, yet,

The firm I work for is involved in prelim well studies and in identifying suitable formations within feasible drilling distance and substrate fractation methods (acidic or explosive). I don't believe Mattoon will happen until I see the Turbine show up on site. My money on the Gen Work Contractor is Bechtel as Design/Build Firm.

[Robert A Cook PE]

That's what I saw as well: The ILL connection reeks of dirty money, particularly if SoCO and other major utilities are pulling out of a co-sponsored effort.

Now, granted, the ENTIRE concept of “scrubbing” out CO2 from the atmosphere is ridiculous and unneeded, a complete waste of money - which may be why the Bush administration pulled our money) from it - but why of all things other than ILL connection is Obama pushing this particular coal project?

Is this the home town of repubbie-turncoat from IL who voted for the crapandtrade law?

[Costumed Vigilante]

Scrubbing CO2 from coal plant emissions is as necessary as putting gamma ray shielding on a lawn mower.

Only government money is stupid enough to "invest" (ie steal and re-gift) money in this sort of idiotic boondoggle.