There is disclosed a process for simultaneous co-production of electric power and a short chain carboxylic acid or salt thereof from a primary alcohol fuel. The primary alcohol can be obtained from coal, natural gas, wood waste or other biomass material. Moreover, there is disclosed a process that does not produce or release carbon dioxide and other greenhouse gasses. Specifically, there is disclosed a liquid fuel cell process technology provides electric power from coal, via a primary alcohol fuel, and allows a commercial scale electric power generating facility to capture at least 70% of the carbon contained in coal (or another carbon-based fuel source such as methane or biomass) for a beneficial and economically favorable use. The captured carbon is converted by the disclosed fuel cell process technology into industrial commodity chemicals such as formic and acetic acids.