Carol Raulston
(202) 463-2610
craulston@nma.org

Luke Popovich
(202) 463-2620
lpopovich@nma.org

January 4, 2007

NMA Salutes Bunning, Obama for Legislation Promoting Coal Liquefaction, Energy Independence

The following statement by National Mining Association (NMA) President and CEO Kraig R. Naasz responds to the introduction in the Senate today of the “Coal-to-Liquid Fuel Promotion Act of 2007.” Sponsored by Senators Jim Bunning (R-Ky.) and Barack Obama (D-Ill.), the bill authorizes the U.S. Department of Energy to administer loan guarantees and provide other incentives for initial construction of coal-to-liquid (CTL) plants, expands tax credits for CTL plant construction and authorizes Department of Defense funding for CTL research and development:

“Americans interested in reducing our country’s growing reliance on foreign energy will welcome this legislation by Senators Bunning and Obama. Their bill recognizes the enormous potential of America’s coal reserves — the world’s largest — for generating more of the transportation fuel we need. The senators also recognize the formidable financial risks involved in developing an entirely new domestic fuel.

“The technology for converting U.S. coal to transportation fuel already exists. The cost of building this industry is considerable, but so too is the cost of continuing our reliance on volatile or unfriendly regimes for the energy we need. Swift approval of this legislation will help our country take an important step towards greater independence from foreign energy suppliers.”