Unfortunately, whenever the private sector is on to something good, meddlesome politicians and special interests are not far behind.
The vehicle for the latest meddling is the New Alternative Transportation to Give Americans Solutions Act. More than 180 representatives - Republicans and Democrats - have signed on.
Unfortunately, the NAT GAS Act would not give Americans a new solution for alternative transportation; rather, it would simply give a handout to those who are already producing and using natural gas vehicles.
Manufacturers would receive a $4,000 tax credit for every natural gas vehicle produced, and consumers would receive $7,500 for the purchase of a light-duty car and $64,000 for a heavy-duty truck. Businesses could get $100,000 for installation of a commercial fueling station, and fuel would be subsidized at the rate of 50 cents per gallon. Over five years, it adds up to between $5 billion and $9 billion.
One of the leading backers of the legislation is billionaire T. Boone Pickens, who has substantial interests in the natural gas industry. He recently toured West Chester University's natural gas fueling facility with two Southeast Pennsylvania Republican congressmen, Patrick Meehan and Jim Gerlach, both NAT GAS Act supporters.
The showcase tour was ripe with irony. Somehow, the university managed to acquire more than 20 vehicles that run on natural gas and two filling stations without these market-distorting subsidies.
Why would a university have made such an investment without the NAT GAS Act's federal handout? Pickens' trademark candor gives us the answer: "The fuel is so much cheaper. It'll pay for whatever the conversion [to natural gas] cost is."
