Rising gas prices have been the big energy story of the past several weeks. But many energy experts say that's a sideshow compared with the really big energy event — the huge boom in oil and natural gas production in the U.S. that could help the nation reach the elusive goal of energy independence.
Since the Arab oil embargo of 1973, energy independence has been a Holy Grail for virtually every American president from Richard Nixon to Jimmy Carter to Barack Obama.
Interest in natural gas vehicles soared in the 1990s and then faded. Twenty years later, the cost of gasoline is going up while the cost of natural gas is going down. And that difference in price explains the resurgent interest in natural gas vehicles.
In Indiana, Fair Oaks Dairy Farm does more than just produce milk — it is also in the transportation business. The farm owns 60 trucks, which deliver milk to a processor halfway across the state. Last September, most of the trucks were converted to natural gas.
Originally published on Thu January 26, 2012 6:23 am
President Obama will flesh out the energy goals he laid out during his State of the Union address today. He'll start talking about natural gas in a UPS Facility in Nevada and continue on to the Buckley Air Force base in Aurora, Colo., where the Air Force is installing a one-megawatt solar array.
Reuters reports that in Las Vegas, Obama will propose a tax credit that helps offset the upfront costs of buying natural gas trucks.