As we continue to read about the depressed job market, we should all focus on the industry we are in, and try and come up with some job creation ideas. At the Texas Electricity Alliance we would like to see a continued move to the use of Natural Gas as the choice fuel for the US economy. Over the past 10 years we have discovered huge reserves of Natural Gas helping to move the price down from a high point of $13/MCF to under $4 today. Traditionally, natural gas has been the equivalent of 1/10 the price of oil but that has been disrupted over the past few years with the discovery of shale gas and natural gas is now the equivalent of 1/20 the price of oil. More importantly we can now depend on long term availability of this very clean fuel. Just think of it we could all be running our cars for 1/3 the price of gasoline. Not to mention we can now use natural gas to help offset the environmental costs of coal as a primary fuel for electricity.
Now how to we use the above facts to create jobs. One great way would be to pass a natural gas bill that would create tax credits for anyone converting their car or truck to natural gas, especially long haul truckers. Then to insure they have the fuel available we should create tax credits for any supplier or fueling station to install and maintain natural gas fueling. We should set a goal to convert 75% of over long haul trucking fleets and 50% of all passenger vehicles by 2016. That’s not all; we should also consider building out new natural gas electricity plants. These plants should be given the same tax advantages as wind and solar power enjoy today, thereby making the use of natural gas as our primary source for electricity competitive with coal. At the Texas Electricity Alliance we estimate these simple ideas would create almost 3 million jobs and reduce the unemployment rate by 2% almost immediately and more as we continue to move in the right direction. Our energy future is at stake, our jobs are at stake, our national security is at stake and here is an easy simple solution to get us going in the right direction.