Clean Energy CEO Applauds Congress and President Obama for Putting LNG on Equal Footing
July 30 2015 - 2:28PM
Business Wire
Within the Highway Trust Fund legislation passed by both Houses
of the U.S. Congress this week and expected to be signed by
President Obama, is a provision to equalize the federal tax on
liquefied natural gas (LNG) to an energy-equivalent basis with
diesel and gasoline. The result will lower the tax on LNG by 14.1
cents per gallon. Twenty-six State Legislatures have already taken
similar action.
The following statement is attributed to Andrew J. Littlefair,
president and CEO of Clean Energy Fuels Corp. (NASDAQ: CLNE):
“The use of LNG as a transportation fuel continues to grow in
heavy-duty trucks, locomotives and large ships because it burns
cleaner and the price is reliably lower due to the fact that it
originates from North America. Anyone who cares about a cleaner
environment and energy independence should be very grateful for
what the U.S. Congress did this week by making LNG that much more
competitive as a transportation fuel of choice.”
Natural gas fuel costs up to $1.00 less than gasoline or diesel,
depending on local market conditions, and also reduces greenhouse
gas emissions up to 30% in light-duty vehicles and 23% in medium to
heavy-duty vehicles. In addition, nearly all natural gas consumed
in North America is produced domestically.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas
fuel for transportation in North America. We build and operate
compressed natural gas (CNG) and LNG fueling stations; manufacture
CNG and LNG equipment and technologies; develop renewable natural
gas (RNG) production facilities; and deliver more CNG, LNG and
Redeem RNG fuel than any other company in the U.S. For more
information, visit www.cleanenergyfuels.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934 that involve risks,
uncertainties and assumptions, including without limitation
statements about President Obama signing the Highway Trust Fund
legislation, the growth in use of LNG as a transportation fuel, and
the benefits of natural gas relative to gasoline and diesel. Actual
results and the timing of events could differ materially from those
anticipated in these forward-looking statements as a result of
several factors, including, without limitation, the price of
natural gas relative to gasoline and diesel, and the cost and
operating experience associated with natural gas vehicles. The
forward-looking statements made herein speak only as of the date of
this press release and, unless otherwise required by law, Clean
Energy undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. Additionally, the reports and other documents Clean
Energy files with the SEC (available at www.sec.gov) contain risk
factors, which may cause actual results to differ materially from
the forward-looking statements contained in this news release.
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version on businesswire.com: http://www.businesswire.com/news/home/20150730006452/en/
Clean Energy Media Contact:Gary Foster,
949-437-1113gfoster@cleanenergyfuels.comorClean Energy Investor
Contact:Tony Kritzer,
949-437-1403tkritzer@cleanenergyfuels.com
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