Energy Scam

U.S. President Jimmy Carter, in the 1970s declared an energy crisis, Congress responded with a tax credit to encourage business to turn domestic coal into a substitute for imported foreign oil. Known as Internal Revenue Code Section 29, the program hands out tax credits for synfuels. Today, the synthetic-fuels tax credit still remains on the books. Companies that manufacturer synfuel use coal fines, dust or ground coal, mixed and soaked with an oily liquid that may include chemicals, binders and additives, to alter the product’s chemical composition. They t...