Friday, May 13, 2011

Top Story

Energy tycoon pushes natural gas for trucking industry

Texas oil tycoon T. Boone Pickens believes the eight million heavy-duty trucks in the U.S. should convert to natural gas engines.

Speaking at a logistics symposium in Dallas, Pickens said the U.S. trucking industry consumes 35 billion gallons of fuel per year.

Pickens is behind a bill in Congress that would offer $5 billion worth of tax credits for companies converting to LNG-powered trucks.

“I’m asking you to investigate, look and see, because you might find that it’s substantially cheaper one, and two, you’re on domestic fuel, so we’re fixing two problems at one time,” Pickens said.

Trucks running on natural gas reportedly cost up to $50,000 more than their diesel counterparts, but are more fuel-efficient, costing approximately $1.50 per gallon compared to the current $4 level for diesel.

For the full Dallas Business Journal story: www.bizjournals.com

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