RRC Porter: $261 Million Invested in Texas’ Natural Gas Vehicles, Stations
Texas investors continue to embrace natural gas vehicles for cost effectiveness and efficiency in meeting their large-scale transportation needs.
New figures from the Railroad Commission of Texas show that investment in natural gas vehicles and fueling stations in Texas totaled $261 million in the past two years.
Texas Railroad Commissioner David Porter launched his Texas Natural Gas Initiative in 2013 to help promote the benefits of using this abundant domestic fuel.
“The market is working in natural gas’s favor, and these new figures demonstrate clear and continued market growth. Private capital represents $239 million of the total invested,” Porter said. “This indicates investors’ confidence in natural gas as a transportation solution.”
The new data reinforce earlier reports that natural gas motor-fuel sales, the number of natural gas vehicles and the number of natural gas fueling stations are surging in the state.
“The figures also demonstrate a close balance—$108 million for natural gas vehicles and $153 million for fueling stations—which means this robust market growth is viable and long-term, because we are addressing both sides of the old ‘chicken-and-egg’ problem,” Porter said.
Commissioner Porter will host his second Natural Gas Workshop this year on June 4 at Texas Christian University’s Energy Institute in Fort Worth. This is the second in his series of statewide workshops that bring together fleet managers and oil and gas operators who use natural gas vehicles and off-road engines.
Commissioner Porter was elected statewide to the Texas Railroad Commission on November 2, 2010. A Certified Public Accountant and successful small business owner, Commissioner Porter has worked with oil and gas producers for nearly three decades providing strategic financial advice and tax counsel. Commissioner is the senior member of the Railroad Commission with a proven record of pro-business, free market, conservative leadership.