Clean Energy Fuels (CLNE) Could Lead With New Energy Bill Passage - Cramer
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Jim Cramer recently spoke with Clean Energy Fuels (Nasdaq: CLNE) president and CEO Andrew Littlefair, and the CEO made comments about the new energy bill that is about to be passed.
The CEO said that, although lighter vehicles (like cars and trucks) consume 100 billion gallons of fuel each year, they are targeting the eight million heavy duty trucks on the road which use 35 billion each year. The bill, Littlefair said, would offer incentive for heavy duty truck owners to convert to natural gas, which could save about $1 per gallon of gasoline.
Littlefair also commented that, since 85% of all trucking is regional, meaning less than 350 miles per day, nat gas stations could be built in clumps around truck stops. He notes that many stations can be built in six months or less.
The CEO said that, with the passage of the energy bill, over 500K in new jobs could be created.
Upon the news, Cramer reiterated his Buy rating on the shares.
The CEO said that, although lighter vehicles (like cars and trucks) consume 100 billion gallons of fuel each year, they are targeting the eight million heavy duty trucks on the road which use 35 billion each year. The bill, Littlefair said, would offer incentive for heavy duty truck owners to convert to natural gas, which could save about $1 per gallon of gasoline.
Littlefair also commented that, since 85% of all trucking is regional, meaning less than 350 miles per day, nat gas stations could be built in clumps around truck stops. He notes that many stations can be built in six months or less.
The CEO said that, with the passage of the energy bill, over 500K in new jobs could be created.
Upon the news, Cramer reiterated his Buy rating on the shares.
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