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Business Business: Local Business: Energy

Loans programs bolster Oklahoma CNG conversions

Citizens Bank of Edmond, Allegiance Credit Union and Communication Federal Credit Union are offering loans to help defray the cost of converting vehicles in Oklahoma to run on compressed natural gas.
By Jay F. Marks Published: September 8, 2012

“If other circumstances arise, we will do what we do best: take care of people,” Lark said.

State tax incentives also can help reduce the cost of making the switch, and regulators this year approved an Oklahoma Natural Gas rebate program that applies to conversions and home-fueling stations.

CNG Interstate in Edmond converts vehicles to run on natural gas. President Craig Wright said the loan programs will help more people and businesses benefit from switching to natural gas.

“The long-term economic benefits of CNG conversion are obvious, but up-front costs can be a deterrent for some people and businesses,” Wright said. “I'm encouraged that our local bank and credit union are offering such great financing options for families and businesses who want to grab the future today.

“I'm proud to join with these Oklahoma businesses as we promote an Oklahoma solution to America's dependence on foreign oil.”

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by Jay F. Marks
Energy Reporter
Jay F. Marks has been covering Oklahoma news since graduating from Oklahoma State University in 1996. He worked in Sulphur and Enid before joining The Oklahoman in 2005. Marks has been covering the energy industry since 2009.
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Tulsa gets

CNG station

TULSA — The city of Tulsa dedicated its first publicly accessible CNG station Friday in its west maintenance yard at 428 W 23 St. The compressed natural gas station, built by Tulsa Gas Technologies, has two dispensers with two hoses each. The city's fleet and members of the general public who have natural gas vehicles can fuel up there, where the price is $1.50 per gallon of gas equivalent, compared to $3.70 for conventional gasoline. While most motorists are not driving CNG vehicles, construction of the stations helps pave the way for greater use of domestically produced natural gas. There are more than 70 existing or planned CNG stations in Oklahoma that are accessible to the public.

TULSA WORLD REPORTS