Obama unveils plan with tax credits for NGVs

Barack Obama’s plan includes proposing new incentives for medium- and heavy-duty trucks fueled by CNG to break dependence on foreign oil; launching a competitive grant program to support communities to overcome the barriers to NGV deployment; developing transportation corridors that allow trucks fueled by LNG to transport goods; and supporting programs to convert municipal buses and trucks to run on methane and to find new ways to convert and store natural gas.

The president discussed his ‘Blueprint to Make The Most of America’s Energy Resources’ during a visit to a UPS facility in Las Vegas, Nevada, that received stimulus funding to invest in liquefied natural gas vehicles and construct a public LNG refueling station that will permit NGVs to travel from the Port of Long Beach to Salt Lake City. The facility was built with help from Obama’s 2009 economic stimulus plan.

“The development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don’t have to choose between our environment and our economy. And by the way, it was public research dollars, over the course of 30 years, that helped develop the technologies to extract all this natural gas out of shale rock,” said Obama in his State of the Union address on Tuesday, and acknowledged the nation’s booming natural gas sector.          

Source: The White House