The recent stalling of the pipeline decision on behalf of the greens, despite high unemployment and many thousands of American workers who would get well paying union jobs starting before the Nov elections, tells the story.
My recollect is that Reed had also tacked an ethanol support to the gas promotion bill, but the bill is not needed. The low cost of gas, having become over abundent from shale riches, voids the need for any subsidies.
A new R Administration, not beholden to environmental fanatics, will allow American energy to prosper. But the election is far from decided, as there are now more tax takers than tax payers, and Pres is skilled at class warfare appeals.
Jack raises some interesting points about the low natural gas prices making subsidies unnecessary. I agree, however, the Natural Gas Act may serve to give impetus to the automotive industry (espeically Govt Motors) to produce vehicles equiped for dual-fuel service (both a gasoline tank and a pressure vessel for natural gas. The bulk of the engine requires no change, though the computer chips need to be burned to accomodate different A/F ratios. Easy stuff.
Then perhaps a push to get more natural gas stations.
CHK has been putting a great deal of money into natural gas fueling stations. More of this private investment is needed.
Ultimately the more natural gas we use in place of foreign oil, the more money stays in the US and sloshes around in our economy.