Over the past several years, the coal industry has been maligned by the media and environmentalists. While coal was at the base of our industrial revolution in the past century, the industry was largely able to be smug in its position as a market staple. While social and political pressures mounted against the industry, the fathers of mining became their own worst enemy. Refusal by the industry to embrace modern "clean coal technology", left the dinosaur standing alone. Other more aggressive technologies took its place. By 1995, we were also told that crude oil had passed peak production and that the United States would soon be running out of energy. What to do next?
Fortunately, with the discovery of new oil and gas formations, additional fracking and drilling technologies emerged. Seven major shale plays were probable between 11,000 and 15,000 feet below a good portion of the central United States. To name a few include: Marcellus, Eagle Ford and Anadarko-Woodford. The coal dinosaur stumbled and fell.
While coal fired steam generator power stations can be converted to natural gas rather economically, there is still a demand for coal. During the past administrations, the world frowned on coal and it was claimed by many, to be an environmental concern regarding “global warming”. You can take coal out of many equations and replace it with other fuel sources. However, coal is the backbone of quality steel production. At the turn of the 21st century, coal production was down. Along with the downturn came a falling away of coke production which is used to produce anodes and cathodes in the aluminum industry. Coke is also used in carbon arc furnaces to produce steel. Initially, China was able to supply coke. However, this coke was loaded with impurities which ostensibly degrade the quality of the steel which is being produced. The steel industry, already weakened by falling prices and a flood of “cheap” steel from the Pacific Rim also came to its knees in the United States.
While natural gas competes with coal for power generation, coal is still necessary for the industries to function in the market place. Moreover, the world demand for crude oil has not substantially declined. Ships at sea run on a specific fuel called “bunker” which is a very heavy and viscous liquid like "tar". America has further concerned regarding sourcing liquid fuels, aka: crude oil, which by in-large, comes from a socially and politically unstable regions of the Middle East.
Our scientists, working with major universities including Princeton, Georgia Tech and West Virginia University, have patented clean coal conversion processes which convert solid coal into a competitive synthetic crude oil product. As world-wide demand for liquid energy sources continues to grow, GeoEnergy proprietary and patented technology that converts coal to liquids will help fulfill this demand.
As large-scale synthesis of high quality graphene, carbon fibers, Nano-technology and Fullerenes grows in the market place, coal is the likely source as a feedstock.
Based on our business modeling for the next 30 years, the demand for coal and its by-products, including liquids, will continue to increase. As directors of AIVN, our GeoEnergy subsidiary is setting a business course that will enhance our share value and fill the void for coal to liquids.