Big Pay Day May Be Coming for Natural Gas Vehicle Stocks
That means to fill a 15-gallon fuel tank cost around $63, and I'm aware there are many states where the cost is significantly higher.
We're spending a fortune burning a petroleum based fuel and the cost is projected to go even higher in the months and years ahead.
The good news is that many nations of the world including America are making progress by making a shift towards vehicles that burn natural gas instead.
According to the organization Natural Gas Vehicles for America, there are about 120,000 natural gas vehicles (NGV) on U.S. roads today and more than 14.8 million worldwide.
There are about 1,000 NGV fueling stations in the U.S., and half of them are open to the public. That number is expected to grow significantly in the next 24 months.
Last year, a former officer of the publicly-traded company EOG Resources
The fuel cost of the trip was almost half of what it would cost using regular unleaded gasoline.
The CNG Civic has many advantages, including a database of publicly accessible CNG refueling stations and, of course, it's cleaner-burning and gets better mileage than a comparable gasoline guzzling vehicle.
Yet, as Car and Driver states, another big advantage is the almost ludicrous difference between the price of a gallon of petroleum-based fuel and a gallon of Compressed Natural Gas:
"The national average for CNG in January 2012 (the most recent month of the EPA’s regular reports) was $2.13 per equivalent gasoline gallon.