As of 31 July, fiscal 2014 tax revenue from sales of compressed natural gas (CNG) and liquefied natural gas (LNG) motor fuel totaled $2,178,199, according to the Texas state Comptroller’s office.
State forecasters projected fiscal 2014 natural gas motor fuel tax revenue of $992,000, equal to sales of 6.6 million gallon equivalents. The 31 July total is 220% of that estimate.
Texas Railroad Commissioner David Porter, who launched a Natural Gas Initiative to increase the use of natural gas motor fuel in Texas last October, hailed the Comptroller’s report.
These collections are more than double the estimated amount. At 15 cents per gallon equivalent, $2,178,199 of motor fuel tax equals sales of 14,521,326 gallon equivalents of natural gas. Natural gas vehicles are becoming mainstream faster than expected, and there’s plenty of room for growth.—Commissioner Porter
Commissioner Porter is coordinating the first Texas Natural Gas Summit, set for 23 October at the Palmer Events Center in Austin. The Summit will connect industry employers with job seekers, showcase advanced natural gas technology and offer workshops for fleet managers and exploration and production operators.