Obama’s ‘Blueprint for a Clean and Secure Energy Future’ includes NGVs

“We can support scientists and engineers that are devising new ways to fuel our cars and trucks with new sources of clean energy, so drivers can one day go coast to coast without using a drop of oil,” the President said at the Argonne National Laboratories in Lemont, Illinois. “After years of talking about it, we’re finally poised to take control of our energy future. We’re producing more natural gas than we ever have before — with hundreds of thousands of good jobs to show for it.”

As reported by NGVAmerica, the President’s plan “commits to partnering with the private sector to adopt natural gas and other alternative fuels in the Nation’s trucking fleet.” Specifically, the plan calls for “putting in place new incentives for medium- and heavy-duty trucks that run on natural gas or other alternative fuels, providing a credit for 50 percent of the incremental cost of a dedicated alternative-fuel truck for a five-year period; supporting research to ensure the safe and responsible use of natural gas; and funding to support a select number of deployment communities.”

The mandatory funds would be set aside from royalty revenues generated by oil and gas development in Federal waters of the Outer Continental Shelf (OCS), already included in the administration’s five year plan. These revenues are projected to increase over the next several years based on a combination of leasing, production, and price trends, with additional revenues potentially generated as a result of reforms being proposed in the FY 2014 Budget. The Trust is paid for within the context of the overall budget.

Source: The White House