20%-50% Saved Running Trucks on Natural Gas: Demers

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May 12 (Bloomberg) -- Westport Innovations CEO David Demers discusses the U.S. natural gas industry and fracking on Bloomberg Television’s “In The Loop.” (Source: Bloomberg)

With kroger.

What is this about?

This is what we have seen for the last few years.

Looking for a way to drop their cost are looking for natural gas.

We will cut their fuel bills substantially.

It gets back to where we are getting the gas from and what we're doing.

Most will see substantial cuts.

What is the initial cost?

Typically, people are buying new trucks there they will get a payback between a year or two.

Kroger's are doing their own feeling in the arts.

It obviously pays back.

What do you hope this will lead to?

This is a technology that came out of the university of british columbia.

We want to find a way for our global transportation system to not be so dependent on oil.

If we can go to methane -- then you have got people going from oil to net gas, but also to electric cars.

What is the better option?

The issue becomes the natural gas industry when it comes to sports.

The theory is, if you make it leave the u.s., prices all the sudden become more expensive here and they will lose the competitive edge they have in seeing.

We have already seen 4.5 billion cubic feet.

Seven terminals have been approved in order to export.

It takes a couple of years to do that, but overall, 9 billion cubic feet a day has been improved.

It sounds like we're headed that way.

We think this is great.

Because we are finding an alternative to oil.

We have been 100% dependent . . if gas prices go up, depends on how much the demand is.

We have got so much supply.

Gas prices could go up 50% and we will still have more than a 50% price cut on gas and diesel.

We have seen a lot of producers rotate into oil because it is more profitable.

Down the road, analysts say we could see more supply crunch because of that.

I am not an energy guy.

Do not ask me.

We have a lot of gas.

Another factor is methane is removed -- the noble.

Havewe are selling it today.

We might have a lot of supply but it is a matter of getting that out in the market.

We just mentioned before we headed to you, rod is looking at banning fracking.

They have got the supply, but the politics may not be able to get out.

I am also not a politician.

I will not debate.

When you go to colorado, they are buying their energy from somebody.

Alas, was in denver, there were a lot of f1 50's running around.

Someone will produce the fuel and someone will pay for it.

The issue becomes infrastructure.

What will come first?

Demand or infrastructure?

A feeling station if nobody is buying a gas card.

The chicken and the egg.

It has to go hand-in-hand.

That is why it is taking so long.

It has taken more than 10 years in the u.s.. the government in china can say, we want to make this happen and build some stations.

Are you telling me you do not want to be involved in any of those issues?

You cannot grow your business if you do not get involved.

Of course.

We have to knock these obstacles down.

We have to focus on our piece of it and get reliable vehicles people want to buy.

It has to be built and have the same quality and the omission certified.

We are spending a lot of time and money, 15 years and a billion dollars, building that.

What will be the holy grail showing you there is adaptation of natural gas?

It is happening already.

It has got the attention of people like ford and volkswagen.

It is underway.

The real surprise for us is people have seen the new idea.

Everybody who uses a lot of fuel says, i could do that as well.

Thank you so much, the founder and ceo of westport innovations.

Coming up, they are not just for the pentagon.

Business wants to make sure congress knows there are plenty of nonmilitary uses for jones.

Plus, ibm is heading big on watson, the computer that made a splash on jeopardy a few years ago.

We are on the markets in just a moment.


This text has been automatically generated. It may not be 100% accurate.


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