The Great Energy Scam

HOW A PLAN TO CUT OIL IMPORTS TURNED INTO A CORPORATE GIVEAWAY. A TIME INVESTIGATION

You would think that a modern industrial process that creates $1 billion a year in profits would make its creators and operators proud. You'd think they would be doubly pleased with themselves for doing it under the banner of reducing America's dependence on foreign energy. In fact, you'd think they would want their names in the paper and awards on their wall. But in the case of a strange kind of American alchemy involving coal, don't expect to be welcome on a plant tour. The reason isn't that secrecy is necessary to protect a technological marvel but just the opposite. What...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!