Tuesday, August 3, 2010

So close... but so far away

Looks like the Nat Gas Act has been punted to the lame duck Congress session according to this article in The Street.

I think this quote from the article sums it up:
"The passage of the natural gas subsidy is the push the nascent sector needs to get over the proverbial hump and change what has been a slow, short-term order growth story. Without it, the natural gas vehicle stocks may not have much upside for the next few quarters, unless, of course, the legislative outlook changes yet again."
What is the potential game-changer in this bill? Federal tax incentives for BI-FUEL vehicles. Oklahoma gives the same tax credit for bi-fuel as it does for dedicated, because that's what it takes to drive adoption - bi-fuel will create the demand for CNG which will drive the construction of fueling infrastructure. There are just not enough CNG fueling options yet to drive broad dedicated CNG adoption.

For example, my family will trade out the 2004 Honda Pilot for a bi-fuel Tahoe or Expedition as soon as bi-fuel tax incentives are allowed.  There are just too many road trips we make where CNG is not available yet.

Isn't it amazing that a bill supported by many, many congressmen on both sides of the aisle can be delayed for years?  

Meanwhile, the cheapest and cleanest car in America has almost 12,000 miles on it now... :-)

Filling up in Sapulpa, OK