A system and method for producing syngas from the CO2 in a gaseous stream, such as an exhaust stream, from a power plant or industrial plant, like a cement kiln, is disclosed. A preferred embodiment includes providing the gaseous stream to pyrolysis reactor along with a carbon source such as coke. The CO2 and carbon are heated to about 1330° C. and at about one atmosphere with reactants such as steam such that a reaction takes place that produces syngas, carbon dioxide (CO2) and hydrogen (H2). The Syngas is then cleaned and provided to a Fischer-Tropsch synthesis reactor to produce Ethanol or Bio-catalytic synthesis reactor.