Honda not selling CNG unit to Clean Energy Fuels
Last month, it was revealed that Honda had agreed to sell its FuelMaker Corp. to Clean Energy Fuels for $17 million. It seems that the two companies, who had until October 3 to close the deal, have called off the sale. We're not sure what the reason for the sale's cancellation are, but it sounds as if Honda was the company that initiated the termination.
In a statement, Clean Energy Fuels said, "Honda delivered to us a notice that it intended to terminate the purchase agreement; and, after subsequent discussions, on October 15, 2008, we and Honda mutually agreed to terminate the purchase agreement in accordance with its terms."
The biggest question now is what this means for the Phill CNG refueling station. The hope would be that Honda finds a way to begin selling these units to homeowners who want to use natural gas instead of gasoline to power their cars. Conspiracy theorists are sure to have a field day with this one.
[Source: The New York Times]
Reader Comments (Page 1 of 1)
Phil 6:18AM (10/19/2008)
I would love to buy one of those!
Here in the UK household fuel (gas, electricity and fuel oil) attracts virtually no tax (no duty and reduced VAT). In fact the government sends money to old people to help buy it.
On the other hand, the exact same fuel used to propel a car has over 100% tax (VAT and duty).
Until the government clamps down on it, you would save a fortune using natural gas from your house.
I assume in the end they will tax electricity used to charge cars at a much higher rate than household electricity too...
Reply
Oilcrisis 6:00PM (10/19/2008)
Honda canceling the sales of Fuelmaker is a direct setback to the effort to get off of oil using CNG as one of the transitional solutions. There is more on this very issue of Honda supressing the GX in the new book, The Plan by Edwin Black, go to www.planforoilcrisis.com and is also detailed in www.TheCuttingEdgeNews.com.
Reply