If it can be done with coal then it can be done with charcoal. It appears the critical processing step is grinding the fuel into micron and submicron sizes. I had thought about if mixing charcoal dust with biodiesel would work since both products can be made on the farm. Apparently the answer is yes and the biodiesel may not be needed since water will work. Now the question comes can this be a substitute for gasoline?

What would be the energy density (BTUs/gallon) and mpg of such a mixture?

The energy content would vary according to heat content of the coal and the percent blends.

For example, a low-ash, high BTU coal (say 12,000 BTU/lb) in a 50% water mixture would be 6,000 BTU/lb. This is about 1/3 the heat value (on a BTU/lb basis) of gasoline, if my calcs are correct.

The MPG would also suffer accordingly, and since water does not burn, that's a lot of weight to haul around, not to mention the issue of keeping the coal in solution. This is one reason why producers don't like shipping water if they can ship a product that's as low in water content as possible.

I don't know what the heat content of charcoal is. Wood runs around 5,000 btu/lb assuming a 25% water content. Considering the temps Iowa has experienced the past 3 weeks perhaps a 70/30 ethanol/water mix would be more appropriate. Homegrown 140 proof moonshine requires considerably less energy to produce than the 200 proof stuff required by gasoline blenders.

Carbon is 14,500 Btu/lb. Charcoal is (mostly) the fixed carbon part of the wood and the ash. It looks like something on the order of 12000-12500 BTU/lb is about right.