U.S. propane stocks increased by 0.9 million barrels last week to 26.6 million barrels as of March 28, 2014, 13.2 million barrels (33.1%) lower than a year ago. Midwest inventories increased by 0.5 million barrels and Gulf Coast inventories increased by 0.4 million barrels. Rocky Mountain/West Coast inventories and East Coast inventories both remained unchanged. Propylene non-fuel-use inventories represented 12.5% of total propane inventories up.
Dear Industry Colleague:
TELL YOUR SENATORS YOU SUPPORT A TWO-YEAR EXTENSION OF THE
50 CENT PER GALLON ALTERNATIVE FUEL TAX CREDIT (Section 6426(d)) AND
THE REFUELING INFRASTRUCTURE TAX CREDIT (Section 30c)
NPGA just has learned that the Senate Finance Committee will markup a tax extenders bill next Wednesday, April 2, 2014.
It is imperative that you contact both your Senators as soon as possible.
Call the Capitol Switchboard at 202-224-3121 and ask for your Senator's office.
Here are some talking points you can use when you get through to the office:
1. Introduce yourself as a constituent from the state and ask for the
staffer handling tax issues. If unavailable, ask for the energy staffer.
2. When you get through to the staffer:
a. Introduce yourself and your company again and state your interest in the Senate Finance Committee's markup of the tax extenders bill.
b. State that you are calling specifically about the extension of alternative fuel tax credits that currently include propane (aka liquefied petroleum gas)
c. Urge the Senator to support a two-year extension of:
i. The 50 cent per gallon alternative fuel tax credit covered in tax code Section 6426(d)
ii. The refueling infrastructure tax credit covered in tax code Section 30(c).
3. These tax credits are very important for the alternative fuel vehicle sector. They will spur growth of clean alternatives to gasoline and diesel, and they will help reduce harmful emissions.
4. If your Senator is a Democrat, it is very important that you urge him or her to express support directly to Senator Wyden's office.
5. If your Senator is a Republican, have them contact Senator Hatch's office to express support for your requests.
Thank you for your help! Every contact is critical!
The Ohio House of Representatives unanimously passed the Vehicle Conversion Bill, HB 336, March 26. The bill would create the Gaseous Fuel Vehicle Conversion Program which would create several financial incentives for the purchase of conversion or alternative fueled vehicles (AFVs). These include grants for state agencies, political subdivisions, school districts, public transportation systems and nonprofit corporations. The legislation would also create tax credits for the purchase or conversion of alternative fueled vehicles by private businesses and consumers. Grants and tax credits would be capped at three different levels based on vehicle weight class.
Both natural gas vehicles and propane autogas vehicles would be eligible. In addition, there is a $500 tax credit for the purchase of electric vehicles. These incentives are temporary, expiring after five years.