The opportunities are immense, and are already in motion.
In March of this year, Fed-Ex Chairman Frederick Smith told the Wall Street Journal that they are in the process of testing two trucks using liquefied natural gas and two other trucks using compressed natural gas. If successful, they expect to convert 90,000 vehicles to natural gas powered. He expects between 5 percent and 30 percent of U.S. long-distance trucking to be fueled by compressed or liquefied natural gas over 10 years, as the cost of the trucks declines and fueling stations become more common. A similar announcement came from United Postal Service in late April, stating they plan to convert 800 18-wheelers to liquefied natural gas by the end of 2014.
So there’s much to be excited about on this front and over the coming months and years. If we were betting men/women, the odds of additional companies moving in this direction are pretty good, especially those who operate large fleets.
