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A Black DayWith oil prices rising, Asia turns to coalPosted at 11:44 AM on 04 Jan 2008You may have heard that oil prices are flirting with $100 a barrel; what's an oil-dependent, energy-hungry globe to do? In Asia, home to a third of the world's proven coal reserves, the answer seems obvious. Across the continent, billions of dollars are being poured into R&D of coal-to-liquid fuel and coal-bed methane extraction. Some tout the new technologies as clean 'n' green -- but coal by any other name is still coal. Period.sources: The Wall Street Journal (access ain't free), BusinessWeek |
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