The abundance of natural gas in the United States has countless entrepreneurs trying to figure out which direction to head for profits. Clearly, natural gas-powered vehicles are a great idea and have been in the works for quite some time. Thanks to T. Boone Pickens and his Clean Energy Fuels (NASDAQ:CLNE), the future of vehicles driven by natural gas appears to finally be reaching a point of inflection.
After finishing the first 70 stations of its "Americas Natural Gas Highway" initiative, the company is seeing some gains early in 2013. In its first quarter of the year it sold 14% more fuel that at the same time last year. Fleet vehicles have been the early adopters of natural gas as a fuel source, but the addition of consumer vehicles running on natural gas would certainly raise the speed limit of revenue growth.
Major companies have bought in already. And with Cummins and Westport Innovations (NASDAQ:WPRT) teaming up to produce heavy-duty, long-haul engines the transportation industry in the United States could be in the process of a revolution. For more details, tune in to the following video.
Joel South owns shares of Ford. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Clean Energy Fuels, Ford, Tesla Motors, UPS, and Westport Innovations and owns shares of Ford, Tesla Motors, and Westport Innovations. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
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