- One of the goals of the blueprint is to partner with the private sector to further adoption of alternative fuels (most notably natural gas) in the trucking sector.
- To accomplish this goal (in addition to research and development) the blueprint proposes providing a credit for 50% of the incremental cost of a dedicated alternative fuel truck for a five year period.
- Although the economics of CNG/LNG are driving adoption, it is believed that these incentives would accelerate natural gas penetration of the trucking industry due to faster payback periods.
The President’s proposal sets aside $2 billion over 10 years and will support research into a range of cost-effective technologies – like advanced vehicles that run on electricity, homegrown biofuels, fuel cells, and domestically produced natural gas. The mandatory funds would be set aside from royalty revenues generated by oil and gas development in Federal waters of the Outer Continental Shelf, already included in the administration’s five year plan.
The President's plan…
Commits to safer production and cleaner electricity from natural gas. Our domestic natural gas resources are reducing energy costs across the economy – for manufacturers investing in new facilities and families benefiting from lower heating costs. This abundant, nearly 100-year resource can support new jobs and growth, but there are steps we should take to make this growth safe and responsible. The President’s budget will invest more than $40 million in research to ensure safe and responsible natural gas production. And as part of a $375 million investment in cleaner energy from fossil fuels, the President’s budget includes significant funding for clean coal technology and a new $25 million prize for the first, natural gas combined cycle power plant to integrate carbon capture and storage.
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