Proposed legislation in America would be providing tax breaks for the vehicles on natural gas

Posted on Friday, 10 July 2009 , 14:07:54 byEmil

Filed under u.s.legislationamericataxnaturalgaspolicyNone

Proposed legislation in America would be providing tax breaks for the vehicles on natural gas

Robert Menendez - Senator (D - NJ) introduced a brand new legislation promoting natural gas for our autos. The NAT GAS Act, that's co-sponsored by Harry Reid - U.S. Senate Majority Leader (D - NV) and Orrin Hatch - Senator(R - UT), would be extending and raising tax credits for cars powered by the natural gas plus the stations refueling needed to fill up the tanks. T. Boone Pickens, not surprisingly (he from the wind farm... failing) is a great supporter of that proposal.

'We saw last summer how the wild fluctuations in oil prices helped to wreck our economy and we've seen how pollutants from dirty fuels are wrecking our planet' said Menendez. 'Our economic crisis has shined a spotlight on the urgent need for alternative, cleaner and cheaper sources of energy that we don't have to import. By making it easier and cheaper to own a vehicle that runs on natural gas, we can help families save money on energy, create new manufacturing jobs and clean our air'.

'Each day, our nation consumes about 21 million barrels of oil- more than 25 percent of the world's oil supply. Nearly 70% is imported from outside our borders. With only 3% of the world's oil reserves, we cannot produce our way to a safe and secure energy future' said Reid. 'I'm proud to join with Senators Menendez and Hatch in introducing legislation that will help encourage the development of natural gas vehicles to help save consumers and operators thousands of dollars per year, protect our environment, and decrease our dependence on foreign energy. We must get serious about using cleaner burning natural gas and renewable energy, and this legislation is a strong step in the right direction'.

Hatch stated 'Natural gas is an important alternative fuel to help pave the way to energy independence, which will not only help keep us safer, but will also help reduce the high cost of fuel and, thus, high utility bills across the board. In our current economic downturn, its crucial to provide appropriate incentives that lead to lower prices for all Americans. This piece of legislation does just that while also helping clean up our environment; I am a proud cosponsor'.

'I am proud to stand with Senator Menendez and co-sponsors Senate Majority Leader Reid and Senator Hatch in support of this important natural gas legislation' affirmed Mr. Pickens. 'This bipartisan legislation does more to reduce our foreign oil dependency crisis than any other piece of legislation in the past 40 years. As I have said many times before and will continue to say, natural gas is cleaner, cheaper, it's abundant and it's American. This bill will accelerate the use of natural gas in vehicles and is the only way I know to quickly and effectively reduce our dependence on foreign oil. For too long, our dependence on foreign oil has been one of the factors influencing our foreign policy and if we can eliminate that issue by using our own domestic natural gas resources I am confident that it will benefit our national security, our economy and the environment'.