SOURCE: Zeus Development Corp

May 14, 2008 15:13 ET

Record Oil Prices Drive US Unconventional Fuel Development, UNCON Fuel Forum to Discuss

HOUSTON, TX--(Marketwire - May 14, 2008) - Speculation over Iran's possible reduction of oil production drove oil futures to $127/bbl yesterday, sending the US average price for gasoline to a record-high $3.73 per gallon. The continued increase in oil prices is accelerating the development of the US unconventional fuel market.

China is leading the development of coal-to-liquids (CTL) facilities that produce a wide variety of unconventional fuels, including DME, and many are calling for the US to follow China's lead in order to curtail rising fuel prices.

Today, Rentech Inc. announced the commencement of commissioning and start-up of the company's synthetic-fuel product demonstration unit (PDU) in Commerce City, CO, making it the only synthetic fuels facility operating in the US. Rentech's PDU will produce 420 gallons per day of synthetic fuels, including ultra-clean diesel and aviation fuels, by the end of June.

Politicians across the country, such as Congressman John Shimkus, are calling for action to increase our nation's domestic energy supply in order to bring down skyrocketing energy prices. "It is past the time to take action," Shimkus said. "There are concrete solutions available. We need to use available technology to convert our vast supplies of coal into liquid transportation fuels."

"There is more available energy from coal deposits in Illinois than there is from oil in Saudi Arabia. Just think of the large number of construction and mining-related jobs we can create," Shimkus went on to say. "To not use this great resource we have been blessed with is absurd."

SYNGAS Refiner, published by Zeus Development Corp, will host UNCON FUEL 2008, an unconventional fuel forum, May 28 & 29, in Houston. Qingyun Sun, associate director, US-China Energy Center and John Baardson, president and CEO of Baard Energy, will kick-off the forum, discussing the call for global unconventional fuel development. View the complete agenda and register online at http://www.syngasrefiner.com/UNCON/.

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