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T. Boone Pickens' better idea: natural gas-fueled trucks

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Every once in a while, one comes across a story-behind-a-story - - one that represents an innovative idea with promise.

One such idea surfaced recently when billionaire oilman and maverick T. Boone Pickens, while forecasting $200-300 per barrel oil in 10 years to marketwatch.com, also expanded on another project: getting 350,000 18-wheeler trucks converted to natural gas through a federal subsidy program.


Natural gas-fueled 18-wheelers

The goal is to get an $80,000 per truck federal tax incentive so that trucks that transport goods across the nation can convert from diesel to natural gas, marketwatch.com reported. About 2,000 liquefied natural gas fueling stations and 89 liquefied natural gas plants would also have to be built for the new system to work.

Don't think diesel oil for trucks constitutes a significant portion of the U.S. economy and its oil use? About 20% of every barrel of oil the U.S. imports is used for fuel by 18-wheel trucks running on diesel, Pickens says.

Energy Analysis: Pickens' goal of first incorporating more wind and soar power to generate electricity, and then making that natural gas formerly used to generate electricity available as a transportation fuel represents an innovative proposal on a number of counts, and Congress should support him.

First, natural gas would be a cleaner transportation fuel than diesel for trucks. Second, the U.S. has a plentiful natural gas supply, although the energy form is not as portable as diesel / gasoline, and it would require a large expansion of the liquefied natural gas network.

Third, and perhaps most importantly, it keeps energy dollars in the United States - - recirculating and generating commerce at home, instead of adding to the wealth of foreign oil producers. In other words, using U.S. natural gas will lower the U.S.'s trade deficit: the U.S. transfers hundreds of billions of dollars overseas annually in oil payments. A better energy system would keep these dollars at home, increasing domestic wealth and creating jobs.

Given the pervasiveness of the oil infrastructure, oil will likely remain a primary fuel in the U.S., for the foreseeable future. Still, it's always amazed your truly why, once the nation started to import large amounts of oil, the United States did not transition to domestic fuels, such as natural gas, for the portion of the fleet that can be converted on a wholesale, economies-of-scale basis: trucks, buses, vans etc. Certain cities / jurisdictions have converted their buses and other vehicles to natural gas, but the private trucking industry is one area that's been seriously neglected.

Pickens already has support from Senate Majority Leader U.S. Sen. Harry Reid, D-Nevada, for his program, and President Obama and other Democratic leaders should push the idea to the top of their energy agenda. The thought of much-needed natural gas dollars recirculating in an American economy, instead of being transferred to the bank accounts of foreign oil producers should provide more than enough incentive for public officials to put Pickens' natural gas idea in motion.

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Last updated: November 24, 2009: 04:47 AM

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