% | $
Quotes you view appear here for quick access.

Energy Transfer Partners, L.P. Message Board

  • bidwillie2 bidwillie2 Mar 31, 2011 8:03 AM Flag

    CNG my Ford

    30-Mar-11 05:28 pm After spending nearly three years and more than $80 million of his own money to tout his energy plan, T. Boone Pickens says he's finally about to have something to show for his efforts.

    Next week, a natural gas bill he has strongly backed is expected to be introduced again in Congress. And this time, the billionaire Texas oilman said, it has the votes the pass.

    "I think we got the deal done," Pickens told reporters after a luncheon speech Tuesday at the Petroleum Club of Houston, hosted by the Society of Petroleum Evaluation Engineers and Society of Independent Professional Earth Scientists. "I think we'll get it through the House before the summer recess."

    The measure, called the NAT GAS Act, aims to boost use of natural gas as a fuel in the transportation sector. Lasting five years, it would provide vehicle tax credits to buyers of vehicles powered by natural gas, giving automakers greater incentive to build them.

    The legislation is scheduled to be introduced on April 6, confirmed a spokesman for its author, U.S. Rep. John Sullivan, R-Okla. Co-sponsors include Rep. Dan Boren, D-Okla.; Kevin Brady, R-The Woodlands; and John Larson, D-Conn.

    "With our vast domestic natural gas supply, gas prices approaching $4 to $5 per gallon and given major instability in the Middle East, I think members of Congress are starting to look to natural gas vehicles as the bridge fuel we need to lessen our dependence on foreign oil," Sullivan said in a statement provided by the spokesman.

    The legislation could come up in a speech President Barack Obama is giving today on domestic energy policy. But it likely would be a measured embrace, as the administration continues to study possible environmental impacts of the key natural gas extraction method called hydraulic fracturing.

    Priority: heavy vehicles

    About 110,000 natural gas vehicles are on U.S. roads today, and more than 12 million are in use worldwide, according to the Natural Gas Vehicles for America, a Washington trade group.

    Pickens said his priority is getting heavy vehicles like garbage trucks and city buses, which account for much petroleum use in the U.S., to convert to natural gas. Private passenger cars and trucks are a longer-range goal.

    In July 2008, Pickens launched an advertising campaign to promote what he called the Pickens Plan. It urged the U.S. to break its dependence on oil from the Organization of the Petroleum Exporting Countries and achieve energy independence by using homegrown energy sources, including wind power and natural gas.

    "I want anything American," he said Tuesday, even if it's "our ugly baby," corn ethanol. "I just don't want OPEC oil." Rating :
    (1 Rating)Rate it:

    SortNewest  |  Oldest  |  Most Replied Expand all replies
39.50+0.11(+0.28%)Jul 29 4:00 PMEDT