I agree that the cost of natural gas is already so low that it does not need a 50-cent-per-gallon tax credit. That is why our bill has dropped the tax credit. We do provide a credit for the purchase of heavy trucks and fleet vehicles that use natural gas, as they are significantly more expensive than vehicles that run on traditional fuel. The reason for this is tied to the overarching goal of the bill which is to jump-start the purchase of natural-gas commercial vehicles and spur the development of infrastructure to accommodate them.
An important detail that is overlooked in the editorial is that this is entirely paid for by the very industry that is benefitting from it in the form of temporary user fees on the fuel. Yes, the ones who benefit are the ones who pay for it, not the American taxpayers. With traditional fuel prices on the rise and approaching $4 per gallon, the president blocking construction of projects like the Keystone XL pipeline and dangerous unrest in the Middle East, it makes sense to do what we can to transition these large vehicles to a cheaper, more stable, American-made energy source. This bill represents something we can do right now to improve our energy security and decrease our dependence on foreign oil.
Sen. Richard Burr (R., N.C.)
|03/06/12||Wall Street Journal: Letters: Government Should Encourage Natural Gas for Trucks|