• 4 minutes What will the future hold for nations dependent on high oil prices.
  • 7 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 13 minutes Venezuela continues to sink in misery
  • 14 mins End of EV Subsidies?
  • 22 mins Maersk's COO statment.
  • 38 mins Citi cuts Apple's price target
  • 1 hour Asian stocks down
  • 45 mins Japan Effectively Bans China’s Huawei, ZTE From Government Contracts, Joining U.S
  • 6 hours OPEC Cuts Deep to Save Cartel
  • 6 hours Trump accuses Google Of Hiding 'Fair Media' Coverage of him
  • 6 hours China Builds LNG Icebreaker
  • 3 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 6 hours Price Decline in Chinese Solar Panels
  • 18 hours IT IS FINISHED. OPEC Victorious
  • 8 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 2 hours GOODBYE FOREIGN OIL DEPENDENCE!!
Is This The Next Big Petrochemical Hub In The U.S.?

Is This The Next Big Petrochemical Hub In The U.S.?

The next major petrochemical hub…

Chicago to Build $3 Billion Coal Gasification Plant

The Chicago Clean Energy project is a gasification plant which will produce synthetic natural gas from coal and petroleum coke.  The facility will cost about $3 billion and is estimated to create more than $10 billion in economic output for the state of Illinois, 2,000 new jobs, and $1.25 billion in tax revenues.

The natural gas produced will equate to about five percent of Illinois’ annual demand, and provide a fuel source to be used in power plants which is 99 percent cleaner than that used in conventional power plants.

The project will also include a carbon capture system intended to trap 85 percent of the carbon dioxide produced during the gasification process; making it one of the cleanest facilities in the world.

By producing natural gas locally, Chicago energy consumers are expected to save more than $1 billion over the next 30 years.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Don D on August 10 2012 said:
    How do we, the taxpayer, get this stopped. Natural gas is so abundant that existing supplys exceed demand to the point of forcing the price down and damping interest in further drilling.
  • Stan B on August 08 2012 said:
    Stupid Question : WHEN was the "projected savings" calculation done - before or after the great natural gas price collapse of 2012?

    I suspect before, and that this plant will end up being a white elephant for the tax payers while enriching a few well-placed industrialist speculators who are right now hoping nobody reviews their numbers in light of the current natural gas glut which is projected to continue for the foreseeable future....

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
-->