Democrat Legislators did it again, ..... nothing as usual

by SamCogar Sat Oct 25, 2008 9:41 am

October 25, 2008
W.Va. dumped from plans for coal-gasification plant

BENWOOD - West Virginia's loss will be China's gain when it comes to the development of a coal-to-liquids plant.

Texas-based developer Synthesis Energy Systems announced Thursday that it had pulled out of an $800 million deal with Canonsburg, Pa.-based coal producer Consol Energy to develop a coal gasification plant in West Virginia's Northern Panhandle.

http://www.wvgazette.com/News/Business/200810240622

by Aaron Sat Oct 25, 2008 9:50 am

If this company was looking for state financing, then I'm glad it fell through. WV has a history of backing faulty business ventures.

To the best of my knowledge, no planes were built in Martinsburg and the Stamping Plant in South Charleston went out of business for a reason but that didn't stop the state from investing $15million to update equipment for the same owner who wouldn't update equipment to stay in business a year earlier.

Part of his reason was that updating the equipment wouldn't gurantee a contracts the company lost over pricing issues.

Add WV's history to the litany of lawsuits that would have been besieged on the plant, company and state over permitting and couple that with the fact that gas needs to be in the $4.00 range to make this product viable, it would have been a huge waste of tax payer money, imho.

Democrat Legislators did it again, ..... nothing as usual

Democrat Legislators did it again, ..... nothing as usual

Re: Democrat Legislators did it again, ..... nothing as usual