The Propane Green Autogas Solutions Act (“Propane GAS Act”) of 2011 offers significant economic growth, environmental and energy security benefits to the American economy, according to a study released today by the National Propane Gas Association.
The study projects that the Propane Gas Act’s impact on jobs and the economy will be significant. The growth in propane vehicle sales and use created by the tax credits will generate an increase in economic activity that peaks at between $4 billion and $5.7 billion per year in 2016. That translates to between 30,000 and 42,000 new jobs created by 2016.
Economic Impacts of the Propane Green Autogas Solutions Act of 2011 was performed by ICF International using standard economic models and market data from propane autogas fuel providers, vehicle manufacturers and fleet consumers. The study illustrates how propane used as a transportation fuel, known as ‘autogas’, can be a cost effective alternative to gasoline and diesel that can help address our nation’s environmental and energy security policy goals.
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