President Obama suggested creating a trust to develop technology to allow America to move away from petroleum as a vehicle fuel. In this video, Tyler Crowe explains why he thinks this is not needed. Tyler points out that companies like Westport Innovations (NASDAQ:WPRT) have already developed the technology to use natural gas as a fuel. What the country really needs is infrastructure to provide the same convenience for natural gas vehicles that we already enjoy for gasoline and diesel. Clean Energy (NASDAQ:CLNE), General Electric (NYSE:GE) and Chesapeake Energy (NYSE:CHK) are working on this, but until the U.S. sees more than 559 CNG stations, moving away from petroleum as a vehicle fuel will be difficult.
Austin Smith owns shares of General Electric Company. Fool contributor Tyler Crowe owns shares of Westport Innovations. The Motley Fool recommends Clean Energy Fuels, Tesla Motors , and Westport Innovations. The Motley Fool owns shares of General Electric Company, Tesla Motors , and Westport Innovations and has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.