Actually Curtis...this is what dreamsare made of.
America's roadmap to energy independence begins in the next few weeks. I'm referring to US Senate Bill 3325 and US House Bill 5778.
You can find the full text of these bills on the Library of Congress THOMAS search engine.
Now, you probably haven't heard much talk about these bills. But trust me, you will.
That's because these bills, if passed, could literally break America's dependence on foreign oil once and for all.
Don't get me wrong. I'm not saying that we'll break our foreign oil addiction over night. I think it'll take some years. In fact, we think the US is experiencing an epic energy transformation. We're leaving the age of oil and entering into a new era.
And that new era starts with the passage of these bills.
You see, House Bill 5778 is titled the Coal-to-Liquid Fuel Energy Act of 2006... and Senate Bill 3325 is titled Coal-to-Liquid Fuel Promotion Act of 2006.
What is coal-to-liquid (CTL)?
In short, coal can be converted into liquid fuels like gasoline or diesel. One of the CTL techniques is the Fischer Tropsch. It was used in Nazi Germany, and for many years by Sasol in South Africa because, in both cases, those regimes were politically isolated and unable to purchase crude oil on the open market.
So they converted coal into liquid fuel to run their automobiles.
Given that the US has abundance of coal reserves, developing a coal-to-liquid infrastructure makes perfect sense.
And everybody wants a piece of it. Including the US government. It's easy to see why.
With over 270 billion tons of proven coal reserves, the United States is the Saudi Arabia of coal. If the United States converts just 5 percent of its estimated recoverable coal reserves, it would be equivalent to the 29 billion barrels of proven oil reserves in the United States.
Speaking in front of reporters, Senator Conrad Burns from coal-rich Montana said... "This legislation gives us independence from foreign sources of fuel, it ensures that our national security and that our military will have the fuel they need..."
Both of these bills are up for vote in the coming weeks. With the American public livid over rising energy costs, we believe these bills will pass with overwhelming majorities.
When these bills pass, the stock of a tiny $4.75 coal-to-liquid company headquartered in Denver, Colorado is going to skyrocket.
This is the same company whose CEO spoke in front of Congress last May. I have to believe that what he said had a major influence on lawmakers.
Out of all his testimony, here's the passage that I think sealed the deal:
"The company has developed a five-point strategy for commercialization...
We are aggressively pursuing multiple strategic projects in the US, with the goal of getting plants up and running at several sites very quickly. Third, we are developing a repeatable and scalable design that allows for expansion of production up to 50,000 bpd per plant that will provide for a very rapid expansion of the industry once the first plants are operational and proved out."
If each state in the Union had 3 to 4 CTL plants, we could nearly eliminate all foreign oil. In fact, the US has roughly 2,778 power plants. If half of those were CTL plants, we could produce 69 million barrels of liquid fuel every day.
Just think if REV could actually get something done this century with the Polish concessions....nah...then that wouldn't be dreaming. That would be a shock!