Gasonomics

If natural gas gets any cheaper, the energy industry will have to pay people to take it. The government is already paying people to buy CNG-burning vehicles, but more people need to take advantage of it. Natural gas prices have been hovering around $2 per 1,000 cubic feet. Compressed Natural Gas prices are below $2 per gallon of gasoline equivalent. The state offers a generous income tax credit for the purchase of a CNG vehicle or conversion of a gasoline engine to run on CNG, but Rep. James Lankford, R-Oklahoma City, said he found tepid support for switching to CNG among motorists he talked to at gas stations during the Easter break. Despite high gas prices, switching to alternative fuels has been slow to develop.

CNG station in Norman, Okla. Photo by Steve Sisney, The Oklahoman

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