Remember House Bill 1 from the 2007 special interest legislative session #2?  The bill was written specifically to give Peabody taxpayer money to build synthetic fuel plants. Now it's time to start paying for it!

The companies announced their plans as Kentucky is facing a $456 million revenue shortfall.  The legislation promised Peabody at least $300 million in subsidies and incentives.  In case you forgot how bad this legislation really was you can read Mark Hebert's WHAS blog post from August 13, 2007 — $800,000 Per Job....Good Deal or Bad Deal?

Included in the incentives is the potential for millions in cash up front. The so-called “Incentives for Energy Independence Act” would offer payments potentially worth tens of millions of dollars to companies that convert coal or biomass into synthetic fuels even before those multi-billion-dollar projects produce their first barrel of fuel.

 The facility would be “carbon storage ready,” and the two companies are already helping fund a test project directed by the Kentucky Geological Survey.  But being "ready" is no assurance that best available technologies will be used to protect public health.