NEW YORK, NY--(Marketwire -02/08/12)- Natural gas prices have been in a long slump as production has grown dramatically in recent years as advances in technology have unlocked vast new reserves. The United States Natural Gas Fund is down roughly 15 percent year-to-date, leading utilities companies to switch from coal to gas for power generation. The abundance of natural gas has led President Obama to push for tax breaks for natural-gas powered trucks which could help the U.S. cut its dependence on foreign oil. The Paragon Report examines investing opportunities in the natural gas market and provides equity research on Chesapeake Energy Corporation (NYSE: CHK - News) and Westport Innovations, Inc. (NASDAQ: WPRT - News) (TSX: WPT.TO - News). Access to the full company reports can be found at:
www.paragonreport.com/CHK
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In President Obama's State of the Union address, he encouraged the country's booming natural gas output. "We have a supply of natural gas that can last America nearly 100 years. And my administration will take every possible action to safely develop this energy," Obama explained. "The development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don't have to choose between our environment and our economy," he promised.
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According to Reuters, Obama further talked up the natural gas industry during a visit to a UPS facility in Las Vegas, which received stimulus funding to invest in liquefied natural gas vehicles and construct a public LNG refueling station. Developing natural gas "could power our cars and our homes and our factories in a cleaner and cheaper way," Obama said at the UPS facility.
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