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Ferrellgas Applauds Findings Of Independent Propane Gas Act Report

OVERLAND PARK, Kan., Nov. 14, 2011 /PRNewswire/ -- Ferrellgas Partners, L.P. (NYSE: FGP), one of the nation's largest distributors of propane, applauded today the findings of ICF International's independent analysis of the Propane Green Autogas Solutions Act of 2011 (H.R.2014/S.1120). The ICF International report confirms that passage of the bill will reduce U.S. dependence on foreign oil, cut greenhouse gas emissions and create as many as 40,000 domestic jobs by 2016.

A copy of the report can be found at www.ferrellgas.com/icfi.

The Propane GAS Act renews current legislation that encourages investment in alternative fuel technologies through incentives which support the purchase of alternative fuels and construction of propane autogas refueling infrastructure. The Act also extends incentives supporting qualified autogas-enabled vehicles. Together, the bill's provisions help move capital toward propane autogas as a cleaner, domestically produced alternative to gasoline and diesel fuels.

"Today's report is further evidence that everyone wins with the passage of the Propane GAS Act; the bill will spark the economy and create good jobs while greening the auto industry," said George Koloroutis, president of Ferrell North America and senior vice president of Ferrellgas. "The Act also recognizes what we've known all along: propane autogas-powered vehicles burn cleaner and require less maintenance than conventionally-fueled models. Encouraging investment in this technology is a no-brainer."

According to ICF International's analysis, 84 percent of propane consumed in the U.S. is produced domestically. The gas originates predominately from U.S. natural gas plant production and refinery production from domestic oil. The analysis suggests the Propane GAS Act will reduce crude oil and petroleum product imports by as many as 117 million barrels by 2021.

"By supporting a fuel that we produce domestically, the Propane GAS Act will also improve the nation's energy security. Propane autogas is an American solution to an American issue," said Koloroutis.

Stock quotes in this article: FGP 

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