NAT GAS Act: US Energy Policy Needs Action
The Dynamic Wealth Report
September 13, 2011
by Corey Williams, Editor
We’ve reached a defining moment in US history.
The global economy is on the brink of falling into another recession.
Americans need jobs. And the US government needs to cut spending and
balance the budget.
It seems like a no-brainer for Congress to address our energy policy.
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The amount of money we spend importing oil is simply staggering…
In July, the US imported 359 million barrels of oil and we paid nearly
$42 billion. At this rate, the US will spend $500 billion on imported
oil in 2011.
Clearly, importing millions of barrels of oil and exporting billions of
dollars of cash each month to foreign oil producers is a drag on our
economy.
But on the flip side…
If we can reduce our dependence on foreign oil and encourage the use of
domestic energy sources, it should provide a boost to our economy.
As you know, the NAT GAS Act is a piece of legislation stuck in Congress
that’s intended to promote natural gas as a transportation fuel.
And the US happens to be sitting on about 2,543 trillion cubic feet of
recoverable natural gas. That’s enough to cover demand for 100 years!
And there might even be more than that…
Simply put, the NAT GAS Act would provide tax credits.
The tax credits will be for converting gas powered engines to cleaner
burning CNG (compressed natural gas) fueled engines. As well as
increasing the refueling property tax credit and those for setting up a
home refueling station.
But here’s the thing…
Natural gas is on the verge of becoming a major player in transportation
fuels even without the Nat Gas Act.
Just take a look around…
Lately I’ve seen commercials and advertisements all over TV and the web
promoting natural gas as a transportation fuel.
And there’s virtually a new headline everyday about one company or
another making the switch to natural gas. Companies are using it to fuel
trucks, boats, buses, and anything else running on diesel.
They’re not switching to natural gas because it’s better for the
environment or to get a handout from the government. No… They’re
switching because they’ll save money by moving from expensive diesel to
cheap natural gas.
What’s more, I’ve seen a united front from the major players in the
industry.
They’re working together and creating partnerships to ensure the
viability of their industry. It’s a thing of capitalistic beauty…
The only problem is the NAT GAS Act is holding back progress.
As long as it remains on the table, it’s in a company’s best interest to
wait. Remember, the proposed tax credits could be worth up to $64,000
per vehicle.
A company operating 100 trucks could receive over $6 million in tax
credits to convert their fleet to natural gas. And that’s a big chunk of
cash…
In short, companies are crazy to convert to natural gas until the fate
of the NAT GAS Act is decided.
But here’s the key…
I don’t think it matters if the NAT GAS Act passes or fails!
At this point, companies don’t need tax incentives to make the switch. It’s already economically viable! Congress just needs to vote on the
bill so the incentive to wait for a potential tax credit is removed.
Once Congress votes, I think demand for everything to do with natural
gas as a transportation fuel is going to skyrocket.
What does that mean for you?
It’s time to buy natural gas stocks.
A good place to start is Chesapeake Energy (CHK). They’re a major player
in the exploration and production of natural gas in the US. They’ll be a
huge beneficiary of increased demand and rising prices.
Then, be patient… wait for government to get out of the way of private
innovation. And once they are, you’ll be locked and loaded to profit as
natural gas transforms the landscape of energy usage in the US.
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