The best argument for subsidies for coal-to-liquid or CTL plants is energy security. South Africa’s Sasol has been making the fuel for decades. John Ward of Headwaters Inc. says the fuel works in today’s cars, trucks, and planes. The U.S. Air Force is interested in further developing the technology so it can use one fuel, instead of the nine it currently uses source to power its field operations, from its Humvees to its jets. Coal-to-liquid offers that promise.

But environmentalists say its bad policy to have Americans rely on coal-to-liquids to fill up their SUVs. CTL will increase coal mining and its environmental damage. Even with carbon capture technology, it will still increase carbon emissions.

From a taxpayer perspective, it doesn’t make much sense to subsidize a mature business. If investors don’t see coal-to-liquid as commercially viable, even with oil prices over $60 a barrel, why should Uncle Sam pony up?

But as long as Congress is handing out subsidies in an energy bill, you can’t blame the coal lobby for asking for its share.