The General Assembly finds:
(1) Lignite in Arkansas is a vast energy resource that is virtually untapped and is easily extracted;
(2) Lignite could be used in a variety of ways, including: Blending it with fuel products to augment imported coal that is currently used to generate electricity in Arkansas power plants;
(3) Using it as a primary fuel source for newly constructed electric power generating plants; and
(4) Using it as a primary fuel source for the generation of synthetic natural gas, gasoline, and other economically important by-products;
(5) The Arkansas Geological Survey, formerly known as the Arkansas Geological Commission, is interested in developing a research agreement with academic institutions of higher education or industry partners, or both, for purposes of pursuing a research program on Arkansas lignite and lignite's commercial and economic contributions to the state;
(6) In the United States, approximately seventy-nine percent (79%) of lignite coal is used to generate electricity, thirteen and five-tenths percent (13.5%) is used to generate synthetic natural gas, and seven and five-tenths percent (7.5%) is used to produce fertilizer products;
(7) Currently, Arkansas is not utilizing its lignite resources; whereas, Texas, Mississippi, Louisiana, and North Dakota regard lignite as an important energy source for electrical power generation or synthetic fuels production; and
(8) With the creation of strategic partnerships, Arkansas can truly begin a new era in lignite-driven energy and economic development.