Evergreen Energy Skeptic
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Msg  54 of 55  at  4/20/2011 11:02:03 PM  by

osollo


 In response to msg 53 by  osollo
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Re: List of EEE/KFX announced schemes

  Keep in mind that K-Fuel was initially designed to solve the problem of toxic emissions such as mercury, sulfer and nitrogenous compounds. It had nothing to do with GHG emissions. However by the time K-Fuel was shown to be effective at reducing those emissions, scrubbers were common place and removed more emissions than burning a cleaner coal, so K-Fuel no longer made sense. Why pay for the scrubbers AND more expensive fuel?

So the less than honest brothers Venners who had acquired the technology had to re-spin it as a solution for carbon emissions reduction, which always was a fable. It worked at deceiving a few investors but hardly made a dent in the industry. Industrial coal burners obviously saw through it.

While it is undoubtedly true that burning K-Fuel results in fewer carbon emissions than the same coal unprocessed (due primarily to the higher heat value of the resulting coal) this doesn't take into consideration the emissions resulting from the manufacturing process, all factors considered. Which isn't likely less than the emissions savings.

Manufacturing the stuff was clearly problematic, however that may very well have been because of incompetence. The kind of incompetence that comes from being short sighted. Evergreen Energy, in every way, has been all about the show for at least the last dozen years. And it was an expensive show.

The last K-Fuel facility that was build in Gillette Wyoming was a perfect example of showmanship vs. substance. How could they possibly have built that gigantic metal structure, with water pipes running in every direction, and not have known that it needed to be insulated to protect water pipes from freezing? How utterly absurd!

Problems with waste disposal are also indicative of dishonest showmanship vs. honest craftsmanship. When evidence came out that EEE (KFX at the time) was having waste disposal issues, they acted as though there wasn't any way that could have known. Yet supposedly K-Fuel had been studied in the laboratory for 25 years. What a crock.
 
Of course the most obvious evidence of showmanship over substances is the literally HUNDREDS of BS press releases over the last 2 1/2 decades. So many in retrospect were entirely misleading and intentionally so I believe. How many press releases got out indicating this or that agreement or partnership had been reached with big deals pending when later it would be discovered that they had nothing more than an agreement to have discussions or for EEE/KFX to conduct "studies" ... usually at EEE/KFX's own expense (or rather the expense of shareholders).

Lets not forget about the Kanturk Partners fiasco. Nothing stands out as more conspicuous of phony showmanship than Kanturk. For those who don't know the story, back in about 2004 KFX was courting Taiwan utilities to sign a long term K-Fuel contract. Foreign nationals from Taiwan apparently expressed concern that KFX didn't have the cash, expertise or background to construct a facility (no commercial K-Fuel facilities existed at the time nor had they ever). So the Venners boys invented Kanturk Partners (which may have already existed, but if so it was "repurposed" very quickly) and presented it in a press release as an "established merchant bank".

But Kanturk was MOST CERTAINLY NOT an "established merchant bank". It was at best some kind of shell, which had virtually no cash in the bank, no experience in merchant banking whatsoever and was owned by the Venners brothers some of their friends and other investors in EEE (KFX at the time). It was a big lie and Taiwan nationals quickly caught on that KFX was a sham outfit. End of negotiations.

When all was said and done, a lot of money was spent on that little show, despite that nothing came of it. Furthermore the then State Attorney General of Alaska (Renkes) had to resign in disgrace amidst accusations that he had a conflict of interest (he was a KFX shareholder) and improperly used the influence of his office to benefit himself, AND FURTHERMORE there also accusations that he had engaged in insider trading of KFX stock because he was actively trading in the stock ahead of "news", which he knew about and was sometimes even involved in "delivering".

I don't believe that EEE/KFX has mentioned Taiwan in connection with K-Fuel since.


 
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