- 31 Oct
More US truck fleets committing to natural gas
A recent Wall Street Journal article describes how another set of truck fleets are accelerating a shift to natural gas vehicles. The article specifically lists Lowe’s, Proctor & Gamble, United Parcel Service, and FedEx. New natural gas engines by Cummins Westport and Volvo AB are helping spur this shift.
Up until now, higher initial cost of vehicles, lack of natural gas vehicle suppliers, and the lack of a natural gas fuel station infrastructure has hindered the adoption of natural gas vehicles. But companies like ENN Group have announced plans to build a network of natural gas stations targeting long haul trucking companies. ENN Group is one of China’s largest private companies, and has already built natural gas stations in China. In addition, Clean Energy Fuels, founded by T. Boone Pickens, has a network of 400 natural gas fueling stations and is expanding across the US.
From a fuel pricing standpoint, this is yet another indicator that natural gas is on the horizon as a viable fuels product. It’s critical to monitor the progress of natural gas in each of your markets and decide when it makes sense to add natural gas to your product portfolio.