Liquid Diamonds, WV Tea

The Pentagon is a Friend of Coal.

The Pentagon is trying to persuade investors and the energy industry to embrace an 80-year-old technology to turn coal into liquid fuel to power planes, tanks and other battlefield vehicles.

Don't get your hopes of filling up the car with liquid coal just yet.

There are roadblocks. Building coal- to-fuel plants is expensive - possibly up to US$5 billion (HK$39 billion). Investors worry that their money could go up in smoke if the global price of oil drops, budding government subsidies dry up, or tougher environmental rules are put into place, said Kevin Book, a senior analyst for Friedman, Billings, Ramsey & Co.

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