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Yet that's no guarantee utilities will embrace the gasification technology. "The fact that it's proved in Indiana and Florida doesn't mean executives are going to make a billion-dollar bet on it," says William Rosenberg of Harvard's Kennedy School of Government. The two gasification power plants in the U.S. are half the size of most commercial generating stations and have proved less reliable than traditional plants. The technology also costs as much as 20 percent more. Most important, there's little incentive for a company to take on the extra risk and expense of cleaner technology: For now U.S. utilities are free to emit as much carbon dioxide as they like.

Cinergy CEO James Rogers, the man in charge of Gibson and eight other carbon-spewing plants, says he expects that to change. "I do believe we'll have regulation of carbon in this country," he says, and he wants his company to be ready. "The sooner we get to work, the better. I believe it's very important that we develop the ability to do carbon sequestration." Rogers says he intends to build a commercial-scale gasification power plant, able to capture its carbon dioxide, and several other companies have announced similar plans.

The energy bill passed last July by the U.S. Congress offers help in the form of loan guarantees and tax credits for gasification projects. "This should jump-start things," says Rosenberg, who advocated these measures in testimony to Congress. The experience of building and running the first few plants should lower costs and improve reliability. And sooner or later, says Rogers, new environmental laws that put a price on carbon dioxide emissions will make clean technology look far more attractive. "If the cost of carbon is 30 bucks a ton, it's amazing the kinds of technologies that will evolve to allow you to produce more electricity with less emissions."

If he's right, we may one day be able to cool our houses without turning up the thermostat on the entire planet.

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