|
Thursday, Jun 25, 2009 @04:28am CDT (Washington, DC) Senators Mark Pryor (D-AR) and Jim Inhofe (R-OK) today introduced legislation to increase the production and sale of natural gas and propane vehicles and develop natural gas and propane vehicle infrastructure across the country. The bill would help reduce the burden of fuel costs for consumers, encourage the development of more environmentally-friendly sources of energy, reduce America's dependence on foreign oil, and strengthen the economy in regions rich in natural gas. The Fueling America Act provides a consumer tax credit for the purchase of natural gas or propone vehicles as well as a tax credit for the installation of natural gas and propane refueling stations. The bill also establishes a natural gas and propane vehicle research and development program within the Department of Energy and requires the General Services Administration to study increasing the federal fleet that runs on natural gas or propane. Using recent average retail gasoline and residential natural gas prices, fuel cost savings for natural gas vehicles could be nearly $500 a year. The Center for Business and Economic Research estimates that the production of natural gas in Arkansas' Fayetteville Shale will result in about $17.9 billion dollars in economic impact and 11,000 jobs for the state over five years. (Copyright 2009 Newsroom Solutions, LLC) |