Natural gas is not for cars
A depleting resource?Yesterday, I caught Bob Simpson of XTO Energy give an interview on CNBC. The Chairmen and CIO, whom stands to do well if natural gas plays a more important role in US energy, claimed that while the US has a "secure supply" of natural gas, natural gas "is a depleting asset."
Moreover, in terms of automobiles, Simpson stated that the lack of infrastructure a major obstacle, especially in terms of the costs of building. Even more interesting, Simpson continually seemed bearish on the idea of Natural gas for cars. When asked about the potential of shale, Mr. Simpson seemed to imply that shale was simply going to replace the depleting natural gas of current wells.
My take, forget natural gas for automobiles or, in a few decades, we'll be just as dependent on foreign natural gas as we are on foreign oil.
Labels: alternative fuels, natural gas vehicles
posted by Dahcredyns @ 1:06 PM
2 comments
2 Comments:
I agree. I heard the other day that the cost of natural gas would be just $1 a gallon at it's current cost. Of course that doesn't take into account the massive amounts of natural gas that would be needed to fuel a fleet of vehicles. I don't know for sure what the numbers would be, but I would be that gasoline is more than comparable, if we had as much gas as we have now, and nobody were using it.
I've been kind of bearish on natural gas, but open-minded. Still, I was surprised to hear this 'expert' sound bearish on natural gas. That says a lot to me.
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