Is Boone Pickens Wrong on Natural Gas?
Oil Price reports: Bloomberg is attempting to make the case that Tesla’s CEO Elon Musk and cheap gasoline prices have driven natural gas away as an economically viable vehicle fuel. But that does not seem to be the case if you look at the role compressed natural gas (CNG) and liquefied natural gas (LNG) has been playing on a global level. As co-founder of the nation’s largest natural gas vehicle fueling infrastructure company, Clean Energy Fuels Corp., Pickens saw his company reach market valuation in 2012 of about $1.8 billion. The Bloomberg piece points to Clean Energy Fuels stock plummeting 90 percent since that peak as another sign that the alternative fuel is on a downturn. Even if gasoline and diesel prices stay stable for a few years, and if Tesla and other electric vehicles see significant sales increases during that time, natural gas is expected to continue doing well for companies working in that sector. Andrew Littlefair, CEO at Clean Energy Fuels, conceded that natural gas vehicles aren’t heading for widespread consumer adoption. However, for fleets, it is much different. For more visit oilprice.com or click http://bit.ly/2vQeZ72
New Ships Hold Natural Gas Longer
Arkansas Online reports: When the tanker Provalys left Louisiana for Chile last month with a full load of U.S. liquefied natural gas, it sailed around South America instead of taking a shortcut through the expanded Panama Canal. Not only is the route free of canal transit fees, but advances in technology mean less of the fuel would escape during the journey. New vessels allow for longer voyages because their rates of boil-off, or liquefied natural gas evaporation, are about 0.1 percent, compared with 0.15 percent a decade ago, according to GasLog’s Paul Wogan. Ships built from this year on will bring the rate down even more, he said. For more on this story visit arkansasonline.com or click http://bit.ly/2uVMPsf