Over the past several years, the coal industry has been maligned by the media and environmentalists who have looked at past performance of coal. 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 new coal technology, left the dinosaur was left standing alone. Other more aggressive technologies took its place. By 1995, we were also told that crude oil had passed peak production and the United States would soon be running out of energy. What to do next?
Fortunately, new discovery, fracking and drilling technologies emerged which indicated that seven major shale plays were probable between 11,000 and 15,000 feet below a good portion of the central United States were now profitable to recover. To name a few include: Marcellus, Eagle Ford and Andarko-Woodford. The dinosaur stumbled and fell
While coal fired steam generator power stations can be converted to natural gas rather economically, there is still a need for coal. During the past administrations, the world frowned on coal and it claimed by many, to be an environmental concern regarding “global warming”. You can take coal out of several 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 aforementioned industries to function in the market place. Moreover, the world demand for crude oil has not declined. Ships at sea run on a specific fuel called “bunker oil” which is a very heavy and viscous liquid. America, has concerns regarding sourcing liquid fuels, aka: crude oil which, by in-large, comes from a very socially and politically unstable region 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 has proprietary and patented technology that converts coal to liquids.
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 also fill the void for coal to liquids.