Sullivan discusses natural gas regulation on CNBC's Mad Money

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On the February 9, 2010, edition of CNBC's Mad Money with Jim Kramer, Oklahoma 1st District Congressman John Sullivan discussed the regulatory obstacles to using America's reserves of natural gas to move toward energy independence. Kramer called Sullivan one of the "good guys in Washington when it comes to the need to adopt natural gas" and mentioned Sullivan's authorship of HR 1622, funding for natural gas vehicle research, development, and demonstration projects -- the bill passed the House last year and is awaiting action by the Senate Energy Committee. Kramer also mentioned that Sullivan is one of the original cosponsors on HR 1835, the NAT GAS act (New Alternative Transportation to Give Americans Solutions), which would give tax credits to auto manufacturers for building natural gas-powered vehicles and to consumers for buying them. HR 1835 and companion bill S 1408 are both stuck in committee.

In the interview, Kramer and Sullivan discussed the possibility that the EPA could ban the principal method for reaching and extracting natural gas from rock formations, in the name of protecting drinking water. Sullivan said that there's never been a case of the hydraulic fracturing technique contaminating an aquifer.

Congressman Sullivan will hold a town hall meeting tonight, Thursday, February 18, 2010, at 5 pm, at the Central Center at Centennial Park, on 6th Street west of Peoria in Tulsa.

MORE: T. Boone Pickens (whom I may eventually forgive for his hostile takeover attempt on Cities Service back in the early '80s) comments on the Kramer/Sullivan interview:

When it comes to investing, natural gas is a "long-term theme," says Mad Money host Jim Cramer, who describes it as an energy source that's 40 percent cleaner than coal, 30 percent cleaner than oil, and much more realistic as a bridge fuel than wind or solar when it comes to combating climate change or ending America's addiction to foreign oil.

So what's Cramer's problem with natural gas? He thinks Washington doesn't get the picture, that's what. Cramer invited Rep. John Sullivan (OK-1) on his show Monday night to discuss the prospects for enhancing America's energy security with this inexpensive, clean-burning domestic fuel.

He couldn't have picked a better guest. For decades, Oklahoma's First Congressional District, which Sullivan represents, has been been a national leader in energy production. Sullivan is continuing this tradition as the lead Republican sponsor of the bipartisan NAT GAS Act in the House, which now has 130 cosponsors from both sides of the aisle.

Sullivan's take on natural gas is simple and straightforward. It is "the bridge fuel as we look at an all-of-the-above strategy," he told Cramer. Later, he added that "alternative energy sources aren't going to happen for a long time. We have 120 years' reserves of natural gas here in America."

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This page contains a single entry by Michael Bates published on February 18, 2010 2:50 PM.

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