In 2012, the United States consumed almost 9 million barrels of gasoline per day and 4 million barrels of distillate fuels, most of them used in transportation, according to the U.S. Energy Information Administration. Now, the dominance of diesel is being seriously challenged by natural gas as the equipment needed to compress and liquefy natural gas, dispense it safely, store it on board, and use it in dual-fuel engines is being rapidly developed and installed across North America. LNG as a transport fuel enjoys powerful backing from companies like Caterpillar, GE, Schlumberger and Baker Hughes. The fuel market appears to be nearing a tipping point. If the present gap between natural gas and crude oil prices remains for another 2-3 years, it should be enough for natural gas to establish a major beach-head in the transport market, pitting crude oil in direct competition with natural gas. (VIEW LINK)
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