Synthetic Fuels Corporation
Quasi-public company / From Wikipedia, the free encyclopedia
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The Synthetic Fuels Corporation (SFC or Synfuels Corporation) was a U.S. federal government-funded corporation established in 1980 by the Energy Security Act (ESA) to create a financial bridge for the development and construction of commercial synthetic fuel manufacturing plants, such as coal gasification, that would produce alternatives to imported fossil fuels. With a seven-member board of directors, the corporation received $20 billion in initial funding to be used in joint ventures with private firms, primarily oil and gas companies, to construct plants and help finance coal mines or transportation facilities.[1] It was one of six acts in the ESA legislation.[2]
![Thumb image](http://upload.wikimedia.org/wikipedia/commons/thumb/c/ce/United_States_Synthetic_Fuels_Corporation.svg/220px-United_States_Synthetic_Fuels_Corporation.svg.png)
SFC also researched and promoted the use of alcohol fuels, solar energy, and the production of fuel from urban waste.[1] Over its 6-year existence, the SFC only spent approximately $960 million (barely five percent of its initial 1980 budget) to fund four synthetic fuels projects, none of which survive today. The corporation was abolished in April 1986.[3]