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Swift Energy President Bruce Vincent on the need for the U.S. to rely more on natural gas because of its lower price.
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About natural gas hitting a five month high today due to forecasts of warmer weather across the midwest.
And slower oil production caused by tropical storm -- Joining us out of Fox Business exclusive is Bruce -- is the president of oil -- natural gas producer Swift Energy great to see against Bruce thanks for coming in appreciate it.
We have Boone Pickens I'm not too long -- and I asked him whether or not -- -- -- -- reaching a time in our economy.
When we found out good ways to use always cheap natural gas and because it's so cheap we could be so we could essentially be self proficient in -- is self sufficient in terms of of the production of natural gas if we change things if we change the way we transport vehicles -- -- Are we getting close to that tipping point.
Model that were close to the tipping point I do think Boone has some great ideas and I think we will implement those it's just gonna take time.
We should be using natural gas and -- transportation system -- in the United States is very vulnerable 95% of our transportation fuels come from liquid petroleum.
That's not a place we wanna be we want to use natural gas both for diversification sake but also because it is actually cheaper.
But it will take time to build in the industry published on trial -- cruise you have a time to go I think it's.
I think -- without government assistance to try to spurred ahead is gonna take at least five to ten years of built a lot of that infrastructure would you support.
Government assistance on getting gasoline stations to -- -- fueling stations and get up to speed more quickly.
By making sure that people can fuel natural gas powered cars.
Well there has been some legislation -- being supported and I think would be a good idea to support.
The conversion a long haul trucking and support the conversion of some of these stations along a major interstate highways to do that.
That would help spur this growth in the use of natural gas which would then help lead Detroit auto -- to build cars without ability is also.
Service stations within large metropolitan areas and that.
Would get more people using natural gas.
Now the other side of the government of course -- of the carrot may have the -- and have been used in the -- a lot through regulatory agencies.
They say the administration says all of the above there for alternative.
Sources of energy but also for the more traditional forms of energy like natural gas and oil.
But when you look at what the EPA does do you believe that.
-- I think you know my mother taught -- along -- -- to go with actions and behaviors not with words and a while the president talks about all live if you look at their actions and their behaviors and their policies it's really not all of the above.
-- focus strictly on were Noble's.
The regulatory agencies through EPA and interior have been.
One of the most adverse that we seen towards oil and natural gas industry in terms of additional regulatory burdens that they put in front of the industry.
But -- isn't the President Obama and his administration not giving breaks to it coal fired plants -- switch over to natural gas search.
Any of the electrical utilities who work more off natural gas vs up.
What is perceived to be dirty your cold.
Well not -- given -- what they're actually doing is putting further regulatory burdens on the coal side.
To put many coal plants out of business and if you're trying to generate power the obvious and best place to go over for our generation.
Frankly your forced him away from something -- natural gas and so you are seeing.
The move to that but it does take time to reconfigure plants -- memo to contribute for natural gas.
Natural gas is actually replacing a lot of -- -- plans right now just because it's more economically feasible because the price the fuel.
Bruce -- cent -- Swift Energy thank you for joining us.
Appreciate it thanks list.
