life-cycle basis. With CCS, the life-cycle CO2 emissions from FT and MTG are about the same as those from petroleum gasoline.
The biochemical conversion of biomass produces fuels that are more expensive than coal-to-liquid fuels because the conversion plants are small and the feedstock is more expensive—biomass costs almost four times as much as coal on an energy-equivalent basis. The production cost of cellulosic ethanol is around $115/bbl on a gasoline-equivalent basis. The cost of thermochemical conversion of biomass, without coal, is higher than the cost of cellulosic ethanol on an energy-equivalent basis and with geologic storage has the potential for large negative net releases of CO2; that is, the process involves a net removal of CO2 from the atmosphere. For biomass-to-liquid and venting of CO2, the estimated fuel cost is $140/bbl if electricity is sold back to the grid at $80/MWh; with geologic storage of CO2, it is $150/bbl if electricity is sold back to the grid at $80/MWh. The