A recent article in the Los Angeles Times exhibited that businesses are gaining confidence in the idea of natural gas and have begun investing in vehicles that run on this up-and-coming energy source. With boosted domestic production, the Energy Information Administration (EIA) predicts that by 2040, production will climb by 56 percent from current levels. The projected abundance of natural gas will continue to follow demand and allow prices to remain lower than oil.
Natural gas makes economic sense for cars, according to T. Boone Pickens, who explained to the LA Times that "Natural gas is 75% cheaper than oil. It's cheap, clean, abundant and domestic." He believes his long-term investments in the commodity’s prospects will finally pay off.
Approximately 17,000 more natural gas vehicles are on the road today than in 2011, according to the trade group Natural Gas Vehicles for America. The U.S. has made way towards utilizing more natural gas, while other nations around the world claim to have over 1 million natural gas cars on the road.