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Boyce was speaking at the Industrial Energy Consumers of America (IECA) conference, where he outlined an eight-point plan he said would enhance US energy security, reduce reliance on foreign oil and natural gas, and lower energy costs.

During the address he cited key findings from a National Coal Council (NCC) study supported by economic research from Pennsylvania State University.

IECA president Paul Cicio supported Boyce’s eight-point plan, saying it would “lower energy costs, reinvigorate our industrial base and provide energy security for Americans".

The yearlong NCC study was conducted by the council following a request by US Secretary of Energy Samuel Bodman.

The report identifies using an additional 1.3 billion tonnes of US coal reserves annually and investing $515 billion in Btu conversion technologies to create the new energy infrastructure that would support:

• 100 gigawatts of new electricity generation;
• 2.6 million barrels per day of refined liquid products;
• 4 trillion cubic feet (tcf) of natural gas production; and
• Ethanol production, enhanced recovery of oil and coalbed methane, and hydrogen production.

The US Energy Information Administration projected energy consumption would increase 27% through to 2030. Substantial coal reserves to meet these growing needs are available in more than 25 states, allowing for widespread coal production, liquefaction and gasification.

Boyce’s eight-point plan included:

Coal to liquids to produce 2.6 million barrels per day. This would utilise an additional 475 million tonnes of coal per year and enhance the US oil supply by 10%.

Coal to natural gas to produce 4tcf per year. This will provide an alternative to at least 15% of America's annual consumption. This supply would help moderate natural gas prices and would use an additional 340Mt of coal per year.

Coal to clean electricity. Boyce would like to see 100 gigawatts of coal-to-clean electricity plants by 2025 to satisfy more than 60% of the expected increase in electricity generating capacity by using an additional 375Mtpa. The FutureGen project is an integral part of this vision.

Coal to produce ethanol. Boyce said using coal for ethanol would reduce costs and displace oil and natural gas by significant amounts while utilising an additional 40Mtpa.

Coal to hydrogen. Boyce said developing a fleet of coal-to-hydrogen plants would satisfy at least 10% of the nation's transportation needs and use an additional 70Mtpa of coal.

Enhanced oil and gas (coalbed methane) recovery as carbon management strategies. Boyce said developing major regional carbon storage projects, including enhanced oil recovery, could potentially lead to production of an additional 2-3 million barrels of oil per day, assuming a technically recoverable reserve base of up to 89 billion barrels in 10 basins. Captured carbon dioxide can also be used to produce methane from coal beds.

Delineate US coal reserves and transportation constraints as part of an effort to maximise US coal production. Existing data analysed by the NCC demonstrated that the mining industry and a US transportation infrastructure can be expanded to accommodate growth in coal production by over 1.3 billion tonnes per year by 2025.

Stimulate economic growth and enhance national security through the development of US coal reserves. Developing an additional 1.3 billion tonnes of coal per year by 2025 for Btu conversion technologies would stimulate economic growth, and America's vast supply of coal would fulfil these needs for at least 100 years, Boyce said. The capital investment needed for large-scale coal conversion projects would be approximately $515 billion (present value of $350 billion).