Plant in Fairbanks looks to turn coal into liquid fuel

November 12, 2008

FAIRBANKS, Alaska-- A new study out of Fairbanks holds high hopes for a local plant that could turn coal and biomass into liquid fuel.

The study is commissioned by the Fairbanks Economic Development Corporation.

The corporation says coal-to-liquids technology can work in a northern environment and that it would be financially viable based on $120 a barrel crude oil.

The study says a coal-to-liquids plant would cost between $4 billion to $7.5 billion.