When I recently made some observations on the progress of the Pickens Plan for American energy security, I downplayed the momentum behind T. Boone's ideas surrounding natural gas as a transportation fuel. It looks like I spoke too soon.
The very same afternoon, a trio of Senators (including Majority Leader Harry Reid) introduced the NAT GAS Act in Congress. This legislation, which Reid may be able to stick into the forthcoming Senate climate bill, would provide a host of tax breaks for natural gas vehicles (NGVs). Basically, most everything for which Chesapeake Energy
The U.S. market for NGVs is currently tiny, with Honda Motor's
Being a Civic owner myself, I was curious to check out the specs. What first jumped out at me is that the GX has a higher sticker price and poorer highway fuel economy than the Civic Hybrid Sedan. The car does shine in the realm of fuel cost, however, which keeps the payback period quite short. Unlike some of the ridiculous luxury hybrids out there, this does in fact look like a reasonable consumer option.
A bigger sticking point, I think, is the lack of fueling stations. Besides Pickens' own Clean Energy Fuels
Given the recent success of ExxonMobil
So, what's your favored future fuel, Fool? Please leave a comment below.
Fool contributor Toby Shute doesn't have a position in any company mentioned. Check out his CAPS profile or follow his articles using Twitter or RSS. The Motley Fool owns shares of Chesapeake and has a potent disclosure policy.