There is a well developed trade in charcoal made using efficient pyrolysis plants, (about 70 Mtons pa). Charcoal is effectively renewable energy, one which, in contrast to solar and wind, is storable. This leads to the idea of the charcoal economy

Pyrolysis of biomass can produces Bio-oil as well as charcoal, and it contains a similair amount of elemental carbon. It is potential an alternative but renewable feedstock for petrochemicals. Bio-oil is currently being produced by the same sort of pryolysis plants as are used for making charcoal but only on a small scale for special applications.

In dual-product plant both charcoal and Bio-oil would be produced and sold into different markets. While the profit from charcoal will decline, the demand for Bio-oil can be expected to increase steadily as the infrastructure for collection and transport to refinaries is developed.

In rural situations, a large proportion of the charcoal produced will a surplace byproduct from the producton of Bio-oil, it can be spread on the land thus improving the soil structure, returning minerals, and effectively sequestering carbon.

While the cost of producing bio-oil is likely to be lower than from expensive holes in the ground, the amount of biomass currently being harvested suitable for pyrolysis would yield only a fraction of the amount of hydrocarbon fuel currently consumed. Enough for long range passenger air travel but nowhere near “business as usual”.

Cerials, giving a high yield of cellulose, are a good crop for Bio-oil production.