Obama wants tax break for trucks running on cheap natural gas

Businessweek:
President Barack Obama said tax breaks for natural-gas powered trucks will help the U.S. cut its dependence on imported oil.
Obama, in his second day promoting policies laid out in his State of the Union address on Jan. 24, proposes a credit equivalent of 50 percent of the extra cost of purchasing a natural gas-powered truck compared with one that runs on diesel or gasoline.
Developing natural gas “could power our cars and our homes and our factories in a cleaner and cheaper way,” Obama said in the text of remarks in Las Vegas at a United Parcel Service Inc. natural gas refueling station built with the aid of money from the economic stimulus. “We, it turns out, are the Saudi Arabia of natural gas. We’ve got a lot of it.”
... 
The cheap price of the fuel should be enough of an incentive for businesses to invest in equipment that will save them money.   I am all for the trucks running on natural gas, but I do not think they need a subsidy as an inducement.

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