[caveat emptor]

We're improving the cost every day,” Rick Billo, the school's dean of engineering, told a local television station.
>
We started off some time ago at an uneconomical $17,000 a barrel. Today, we're at a cost of $28.84 a barrel.

As the price of crude oil continues to skyrocket – now overing near $80/barrel - being able to produce a barrel of oil at less than half of that price is an attractive proposition, especially for Canadian producers.

According to the Coal Association of Canada, there are major deposits of lignite coal in Southern Saskatchewan, Alberta and Manitoba, though only the Saskatchewan deposits are currently being mined.

Lignite was the source of up to 70% of Saskatchewan's electricity last year.

The University of Texas hopes to license their technology in the next few months and start building the first micro-refineries to produce the cheaper oil in the next year.

Germany, Russia and the U.S. are currently the world's leading producers of lignite coal.

[o_zarkman44]

Ping to North Missouri coal.

[Drill Thrawl]

There sure seems to be a flood of “miracle engery” stories lately.

[karnage]

Didn’t the jerries do this during WW2?

[iowamark]

http://energyandenvironmentblog.dallasnews.com/archives/2010/02/ut-arlington-to-license-coal-t.html

I certainly hope these guys are correct.

[Nailbiter]

ping,,,,,,,,,,,,,,interesting

[Army Air Corps]

Ping.

[George Varnum]

Heck; the Germans were doing this routinely during WW-II; they made most of the diesel fuel that the Panzer tanks ran on. The refineries where they made the stuff were prime targets for allied air raids.

I’m quite confident that the Obama Syndicate, at the behest of their Saudi Wahabbi masters, will pass a bill to make production sale, use or even possession of this synthetic fuel illegal just about the time they are ready to start production.
If the Congress won’t pass it, the Obameister will just outlaw it by executive order / Imperial edict.
You may be assured that they will come up with some lame “environmental” excuse to forbid it, too.

Besides; all of America’s natural resources have probably been put up as collateral against our loans from China, and since we’ll never pay them back they OWN our oil, gas, coal, and who knows what else.
That’s why they won’t allow any drilling anywhere - using the same old lame “environmental” excuse, of course.
Our politicians are committed to protecting CHINA’s oil and other resources that we’re holding for them. I just wonder when they’re coming over with the PLA to collect.

If anyone makes or sells any of this coal gasoline here in America, it will be a “bootleg” underground operation and the Federal Gestapo will be constantly on the prowl to bust them for it.

[babygene]

I hope Obama doesn’t hear about this... He will shut it down in a New York minute.

[RC one]

I’v been watching this for a while. I really hope it pans out. I’ll bet there’s quite a few billionaires hoping it doesn’t.

[ErnstStavroBlofeld]

Its called the Fischer–Tropsch process. The USAF is making aviation fuel out of this process

[HiTech RedNeck]

The biggest problem will be OPEC, who will undercut any such attempts.

[DGHoodini]

If it turns out to be true, feasable, economical,and actually developed to industrial production levels, we sure could start putting a pretty big daily dent in our national deficit, , with all the petrodollars that would no longer be flowing out of our country every day. See how much Iran can get for a barrel of oil when all of the sudden the market is awash with all the oil we are no longer buying.

[Darth Reardon]

Headline: “Scientists find way...”

Article: “Researchers in Texas say they have found a way...”

I think what we’re seeing is the death of good journalism, Lynn.

[element92]

what is actually new here?

[backhoe]

Remember this from election time?

November, 2008:

Coal Industry in Extreme Danger: Obama/Biden Caught on Tape! (PA, OH, WV, VA, KY, MT, WY, TN)

[DungeonMaster]

We need some democrats there to make it illegal or to tax it to death.

[Jabba the Nutt]

Good news. Obama wants to bankrupt the coal industry.