ConocoPhillips, biofuels center ink research pact
July 2, 2008

Kentucky carbon storage test partnership formed
July 1, 2008

Today's headlines tell the story: there is a strong link between the cost of energy and a growing economy.

Of course, American families don't have to read the newspaper to know these facts. When energy costs increase, as consumers we see that directly at the gas pump or when we pay our utility bills - but we also feel it when we buy goods and services.

According to statistics published by the U.S. Department of Energy, American working families earning between $10,000 and $50,000 per year have seen their household energy costs more than double since 1997. What is even more concerning is that 60 million American households are now paying almost 25% of their total household income to cover energy-related expenditures (both transportation as well as residential energy costs).

So when somebody says that the cost of energy doesn't matter - remember that every dollar spent on energy expenses is one less dollar left to cover health care, educational or other necessities.

We believe the cost of energy does matter - and it matters a lot.

That's why we are committed to policies that help keep energy costs affordable for consumers. And that is why we believe that coal needs to remain a viable energy option for America going forward. Unlike other groups that may want to limit energy options, we believe that meeting America's growing demand for electricity and keeping energy costs affordable will require keeping as many options on the table as possible.

Using coal to generate electricity is one-third the cost of most other fuels, and as noted earlier - increasing our use of coal going forward will not drive up energy costs in other energy-consuming sectors.

Don't let the skeptics fool you. Even with the requirement to use advanced technologies to capture and store CO₂, coal will remain an affordable energy option that we can rely on in the future.

Consider a recent study by the Coal Utilization Research Council (CURC) and the Electric Power Research Institute (EPRI). These are two recognized experts in the field of advanced clean coal technologies. They agree that with prudent investments in technology the cost of using coal to generate electricity with carbon capture in the year 2020 will be cheaper (adjusted for inflation) than the cost of electricity produced by coal today without carbon capture.

Everybody knows that coal-based electricity is affordable today, and there is no reason to think that it won't be an affordable energy option for the future.