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We can say that -- natural gas boom is a total game changer with said it many times on this program.
But other than home heating and what can you use it full.
How about powering -- minivan that product by the -- is already here.
Fred address is the chairman of the vehicle production group that makes that convert to natural gas van.
Fred welcome to show.
And I just correct you it's not converted right you -- -- it's not it's a natural gas right from the get go right out of the factory.
Only M engine and vehicle okay how many of these vehicles on the road.
There's about a thousand on the road right now.
Probably 50% gasoline 50% natural gas.
Obviously we're encouraging fleet on -- to use natural -- is a considerable price advantage it.
It's about two dollars a gallon cheaper than gasoline -- -- -- up with natural gas infrastructure is developing in New York for example -- above sixteen locations in California they have the highest concentration of infrastructure.
I was economists and last week talking about mapping their high pressure gas lines.
To install -- -- fueling stations thing and indeed one of the problems is the permanent process.
A Republican process every every every municipality a different process department natural gas for another fast one do you get government subsidies no we -- -- subsidies we we got a loan from the department energy.
They it is alone we're paying of that we pay interest -- the.
They used it to encourage drug development of the natural gas vehicle and -- -- -- within the last few minutes we got the natural gas inventory data which showed another build from the government and natural gas the price of natural gas breaking down again today.
Right now it's trading at a dollar and 93 down more than half a percentage -- I remember what it was fifteen boxing unit.
Back during Hurricane Katrina -- the president is so worried about speculators driving up the price of oil.
Do you fear that the same thing could happen with natural gas once -- deeply invested in this that a lot of people driving natural gas cars and -- the price goes through the -- undermining your whole up.
I think there's new technologies to move -- achieve their development of natural -- -- much reduce cost.
I think there is a balance the industry has to make a profit so.
I can say it's gonna be this low forever but the price of oil will continue to escalate.
And they'll always be this arbitrage between oil and gas and we think it'll be substantial enough to make utilized choice -- natural gives me.
-- years and years and years before I could buy natural gas powered vehicle and fill it -- wherever I police because you don't have the infrastructure yet and it's years away.
Well you can buy natural gas vehicle right now be happy to sell you want to show your mom and the infrastructure will be developing mutes the chicken and egg problem razor and razor blade here is that was it for.
I don't think -- years -- you purchased 25 vehicles from us we -- -- the CNG fueling facility at your location on the house.
Correct of I -- -- five by 25 natural gas vans from you.
You will come to my place of business where I run my fleet from and -- -- stole a fill up station -- free.
Gladly if you would do that gladly and all right negative but also going to be about to look at home right -- -- -- natural gas piping into the house now at some point.
He'll live to just for the card to the process Philip announced -- sixty million households -- United States used natural gas we have a fueling device that goes into a grudge the problem with the device.
Is it fuels -- a low rate so we have engineers working on getting a reasonably priced fuel in device.
To fuel -- vehicle overnight you need about one gallon and our.
The fuel overnight and them hopefully shortly that'll be available and if you haven't you garage you plummet just like your -- -- -- Is it safe this is real fast is -- safe because.
You know some -- must comic -- worry about a tank full of natural gas in the -- Two points quickly one we crash tested as vehicle of vehicles fully offend the SO certified went through the whole procedure the natural gas vehicle.
Responds better to a rear impact collision than gasoline.
A natural gas tank is an aluminum tank wrapped -- -- -- five -- bulletproof okay I'm behind and above.
About Fred dressed as an important question -- the last point did you should natural gas is -- -- there if there is a crack it -- under pressure on the nano second.
Gasoline drops below the vehicle and -- best prepared CEO we've ever had on this program giving you apparently one of the -- have -- muscles -- -- that's correct if you used -- be a part owner of the Washington Redskins.
Yes I think -- -- a former chief of the New York Daily News right -- had a diverse career -- businesses that requires racehorse in the started not a company Obama way -- I wanna -- can you can give -- 45 -- is -- interest.
Not a joke -- -- dress -- academic check effectively doing is saying occasion thank you thank you very.