The nation is flooded with natural gas. For the last twelve months, the amount of gas available to the market exceeds five-year averages. With more gas than anyone can use, producers are now looking for new consumers. Two new opportunities have emerged and one could disrupt the nation’s economy in some very positive ways.
Less than five years ago it looked like North America’s natural gas market was going to become highly dependent on foreign imports. Anticipating a growing need to offset declining natural resources, investors built eleven liquefied natural gas (LNG) import terminals along the east coast and the Gulf of Mexico. Seven more were approved by federal regulators. But during the last 12 months, very little LNG was imported. Keep reading →
Government can help the natural gas vehicle industry to gain a foothold in the market, but isn’t likely to work as a stimulus in the long run because many executives distrust its abilities to sustain support, according to the head of a leading maker of natural gas engine technology.
David Demers, chief executive of Westport Innovations said incentive programs are always fragile because they are subject to shifting political winds, and can cause serious disruption if they are withdrawn, so business leaders are more inclined to build their models on the basis of market forces. Keep reading →
A cab driver fuels up his CNG taxi on February 8, 2012 in San Francisco, California. San Francisco city officials announced today that 92 percent of San Francisco’s taxi fleet is comprised of hybrid or CNG vehicles
Chesapeake Energy has agreed to work with technology firm 3M to produce and market compressed natural gas tanks for the US transportation sector. Keep reading →