Totals for Fiscal Year 2014 Doubled the State’s Estimates
“Sales of natural gas motor fuel are surging in Texas,” says the Texas Railroad Commission. TRC cites- a tally of more than 14.5 million gallon equivalents of compressed natural gas and liquefied natural gas sold in the state as of July 31 – with correspondingly high tax revenues.
“At 15 cents per gallon equivalent, $2,178,199 of motor fuel tax equals sales of 14,521,326 gallon equivalents of natural gas,” TRC commissioner David Porter said in a Tuesday release.
“These collections are more than double the estimated amount,” he said.
‘Mainstream Faster than Expected’
State forecasters projected fiscal 2014 natural gas motor fuel tax revenue of $992,000, equal to sales of 6.6 million gallon equivalents. The July 31 total is 220% of that estimate.
“Natural gas vehicles are becoming mainstream faster than expected,” Porter said. “And there’s plenty of room for growth.
“These excellent sales figures represent only a fraction of potential sales,” he said, “as more and more fleet operators take advantage of the cost savings, lower emissions and energy-security benefits of Texas natural gas.”
Clean Energy Fuels was quick to spread the news from Texas, where it operates approximately 40 public-access natural gas fueling stations.
“The use of natural gas as a vehicle fuel is taking off in Texas,” senior sales and finance VP Peter Grace said in his own company’s release.
‘Plenty of Room for Growth’
“We firmly agree with Texas Railroad Commissioner David Porter that there is plenty of room for growth as more fleets take advantage of the economic and environmental benefits of natural gas vehicle fuel.”
Porter is coordinating the first-ever Texas Natural Gas Summit, set for October 23 at the Palmer Events Center in Austin. “The Summit will connect industry employers with job seekers, showcase advanced natural gas technology and offer workshops for fleet managers and exploration and production operators,” TRC says.
Jim Harger is chief marketing officer at Clean Energy Fuels.
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Source: Texas Railroad Commission and Clean Energy with F&F follow-up