Natural gas is "no longer a debate" for fueling commercial vehicle fleets, said U.S. Dept. of Energy Secretary Steven Chu at this year's Green Truck Summit, which opened March 5 in Indianapolis.
Chu likened America's fuel crisis to a beef-eater who can no longer afford to buy beef. With crude oil prices at well over $100 per barrel, producers are investing in riskier sources, Chu said. Arctic or deepwater oil wells cost as much as $5 billion each to start up, so producers want to get the highest price possible for the investment.