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COPYRIGHT 2005 Hart Energy Publishing, LP.
A proposed 5,000 barrels/day coal-to-liquids (CTL) refinery in Pennsylvania got another boost when Gov. Ed Rendell (D-Pa.) announced his state would lead a purchasing consortium that "in principle" would buy some 40 million gallons/year from the $612 million plant. Waste Management Processors Inc. (WMPI), developer of the proposed plant, estimated the fuel selling price to the consortium at about $1.30/gallon, although inflation factors and a possibly variable pricing formula (tied to future price volatility risk) have yet to be finalized. Banks are likely to have a say about such terms, as they...
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