The United States now has more natural gas than Saudi Arabia has oil, making us the largest producer of natural gas in the world. Advances in technology have led to the cost-effective development of natural gas from shale formations. Neither the political instability in the Middle East nor last year’s winter of sustained cold and record snowfall significantly affected natural gas prices in the United States, which remained relatively low and stable. We must put this abundant resource to good use.
Florida Power & Light opened their Martin Next Generation Solar Energy Center in March of 2011. This plant, touted as the “first hybrid solar power plant in the world” , will use solar thermal power in conjunction with a natural gas fired power plant.
The Pennsylvania Senate passed legislation on Tuesday that would impose a tax on the shale gas industry in exchange for removing many of the barriers to development, a compromise that critics said left municipalities with little control over the use of their own land. But State Senator Joe Scarnati, who supported the bill,and said would bring in over $1 billion in badly needed revenue over the next five years.
“Natural gas has clearly emerged as the most realistic alternative fuel option for the trucking industry,” said Dan Ustian, Navistar chairman, president and CEO. “Together, Navistar and Clean Energy have come up with a breakthrough program that offers customers a quicker payback on their investment plus added fuel costs savings from day one of operation.
U.S. households might see total savings from lower gas prices of as much as $113 billion a year through 2015, including tack-on effects such as lower product prices and higher wages generated by cheaper fuel, according to energy industry consultants IHS Inc.
As part of the deal, the Japanese conglomerate will invest 2.9 billion Canadian dollars, or $2.9 billion, in exchange for a 40 percent stake in Encana’s Cutbank Ridge holdings in British Columbia, where Encana owns about 409,000 net acres.
Gov. Tom Corbett this week signed three key bills for Pennsylvania’s energy sector, including a wide-ranging bill that updates regulations surrounding the state’s booming natural gas industry and removes Pennsylvania’s distinction as the nation’s largest gas-producing state that does not impose a levy on the activity.
Especially troublesome to alternative transportation supporters is the portion of the bill that calls for new yearly fees for hybrid vehicles and for vehicles that run on natural gas or propane.
“[The economy] definitely shows some signs of revival,” Soros said on CNN’s “Fareed Zakaria GPS. “Very important is the revival of shale gas and shale oil as a cheap source of energy which has made manufacturing more competitive [and] also the fact that you now had several years of no wage growth, so wage disparities have been reduced, and so all of this is bringing a very welcome relief.”
The first of 60 liquefied natural gas (LNG) Peterbilt Model 388 trucks has been delivered to Green Energy Oilfield Services of Fairfield, TX. The trucks, to be delivered by Rush Truck Centers in Austin and serviced through Rush Truck Centers in Waco, will be used by Green Energy for field support to XTO Energy.
“It’s sometimes easy to forget that there’s still a petroleum based product in CNG engines, so lubricants often slip from sustainability and budget conversations,” said John Wesley, chief executive officer of Universal Lubricants. “But engine oil represents a critical piece of the puzzle for fleet operators.”
“The opening of this new LNG truck fueling station, the first in the industrial heartland of America, is a major step toward realizing our program to create a national LNG fueling infrastructure that will extend along major truck routes nationwide,” said the company’s Chief Marketing Officer, James Harger.
Commenting on the legislation, the Marcellus Shale Coalition President said … “This legislation builds upon, and further strengthens, the collaborative efforts undertaken over the past several years, ensuring that Pennsylvania has industry-leading, world-class shale gas regulations on its books …”