Adsorbed natural gas (ANG) technology developer Energtek Inc. said that with the new U.S. administration’s backing it expects natural gas to play an increasing role in fueling transportation across the country. President Obama has called for a major reduction in dependency on foreign oil in his energy portion of the economic stimulus bill now being implemented. More than 60% of oil consumed in the United States is used by the transportation sector. Most of the vehicles currently on the road have internal combustion engines that can run on gasoline or natural gas, Energtek said. The company’s ANG technology applies proprietary low-pressure storage technology to provide complete well-to-wheel pipeless natural gas supply solutions to industrial consumers and fleets of small vehicles. “[natural gas] is currently the only commercially viable motor fuel alternative to oil,” said Energtek CEO Lev Zaidenberg. “NG is cheaper, cleaner and there are proven reserves to power the country’s enormous automotive fleet for the foreseeable future. No other energy source, including renewable fuels, can be implemented as quickly and completely into the motor vehicle market as NG.” The call for more natural gas use in the transportation sector echoes the sentiment of oil magnate T. Boone Pickens, who has been promoting the fuel switch since last summer in his Pickens Plan (see Daily GPI, July 11, 2008).
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California Steps Up Low-Carbon Fuel Standards
Clean fuel advocates in the utility and merchant energy sectors Tuesday lauded California Gov. Arnold Schwarzenegger for signing a new law to help implement the state’s low-carbon fuel standard (AB 118), authored by his political ally in the state legislature, Assembly Speaker Fabian Nunez.
Natural Gas Gets Push Among CA Alternative Transportation Fuels
Natural gas is a clean domestic energy alternative to gasoline for fueling the nation’s private- and public-sector fleets, a former U.S. Department of Energy (DOE) head said during ceremonies in Sacramento, unveiling a new alternative transportation fuels report from the California Secure Transportation Energy Partnership (CalSTEP).
Natural Gas Gets Push Among CA Alternative Transportation Fuels
Natural gas is a clean domestic energy alternative to gasoline for fueling the nation’s private- and public-sector fleets, a former U.S. Department of Energy (DOE) head said during ceremonies in Sacramento, unveiling a new alternative transportation fuels report from the California Secure Transportation Energy Partnership (CalSTEP).
Marathon Spends $500M to Acquire Pennaco
Fueling rumors that USX-Marathon Group may separate its steeland energy businesses and then sell a beefed up oil and gasbusiness, Houston subsidiary Marathon Oil put together a $500million deal to acquire two-year-old Pennaco Energy Inc., a companywhose key assets are tied to coalbed methane (CBM) gas productionin the Powder River Basin of northern Wyoming and southern Montana.
Calpine Sees Coal Price Surge Fueling ’05 Growth for Gas-Fired Power
What its executives are calling a “significant rally” of Eastern coal prices could fuel an upswing in the wholesale market for natural gas-fired electricity beginning next year, according to Calpine Corp. officials responding to questions from financial analysts Thursday.
After Fueling the Rally, Spread and Options Selling Drops March at Expiry
After spiking to a new, all-time high Tuesday, natural gas futures reversed lower Wednesday as spread- and options-related selling pressured March futures lower on their expiration day. March ended its tenure as prompt month at $9.133, down 44.4 cents for the session and $2.766 off its $11.899 high notched just 30 hours prior.
Futures Make Solid Gains, But Lose Steam Late
A Nor’easter dumped snow from D.C. to Boston yesterday, fuelingthe bullish momentum in the gas futures pit. It also forced Nymexto close up shop an hour early and plan for a one-hour delayedopening today.
‘Graying’ of Oil Patch Spells Trouble for Producers
Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.
‘Graying’ of Oil Patch Spells Trouble
Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.
