Amidst an otherwise blood-red tape, big things are happening for the natural gas trucking industry today.
A story on the Dow Jones Newswires tells us that the $64,000 tax credit for natural gas truck purchases is going to get its shot in Congress, possibly next week…
WASHINGTON (Dow Jones)–A plan promoted by investor T. Boone Pickens to
encourage more natural-gas vehicles will likely hitch a ride on a Senate
energy bill that is to come up for a vote at the end of July.
“We plan to do something with natural gas,” Senate Majority Leader Harry
Reid (D, Nev.) told reporters on Wednesday. He referred to the “Pickens
Plan” and a measure written by Sen. Bob Menendez (D, N.J.) and said “almost
certainly I’m going to put that provision in the bill.”
If the measure becomes law, Clean Energy Fuels Corp. (CLNE) could be a
beneficiary. Pickens owns a stake of almost 46% in the company, according to
regulatory filings. Clean Energy Fuels describes itself as the leading
provider of natural gas as a fuel for alternative-vehicle fleets in the U.S.
Senate Democrats plan to unveil the energy bill next week, according to a
Democratic aide. Reid will attempt to begin debate on the bill the week of
I’ve written quite a bit about the tremendous potential for natural gas trucking, to get up to speed, follow the below link:
Natural Gas Trucking Revolution (TRB)
Full Disclosure: I currently own shares of CLNE for customer accounts. Nothing on this site should ever be considered to be investment advice as I am unaware of the specific objectives and risk tolerances of those who may be reading. Please do not act on anything you read here.
[…] Read More Information here to that Topic: thereformedbroker.com/2010/07/15/natural-gas-trucking-takes-another-step-forward/ […]