Political Quotes

“I rise as a cosponsor of the amendment from the Senator from Colorado. This amendment would correct a mistake and level the transportation fuel tax playing field by taxing LNG on an energy equivalent basis rather than a volumetric basis. It would also put this cleaner and cheaper source of energy on an even playing field with diesel fuel. It would help a new industry get off the ground and become commercially viable simply by leveling the playing field. When Congress first established the transportation fuel tax on LNG, it was not yet a fuel that had entered the commercial marketplace. There were no LNG trucks on the road. There was no one to educate us on the technical or marketing differences of these two fuels. Now that the LNG market is emerging, however, this unfortunate drafting error has shown its real world consequences. The current tax system can result in thousands of dollars of additional tax for those who choose to utilize LNG. For example, if a diesel truck travels 100,000 miles at 5 miles per gallon it consumes 20,000 gallons of diesel fuel, however, an identical LNG truck would require 34,000 gallons of LNG to travel the same distance. Both trucks would consume the same amount of energy, measured in BTUs, but the current tax system would result in the LNG truck paying an additional $3,402 in taxes because of the 14,000 more gallons of liquid fuel consumed. In addition, although we do not yet have any marine vessels operating in the U.S.…”