From: The Honorable John B. Larson
Sent By:
scott.stephanou@mail.house.gov

Bill: H.R. 3424
Date: 2/14/2014

Dear Colleague:
Please join me as a co-sponsor of H.R. 3424, the Converting Methane Into Petroleum Act, which will help unleash one of the most promising ways for our nation to take advantage of our abundance of domestic natural gas in a way that will create jobs, bolster
our energy independence, and benefit the environment.
This legislation will encourage the development and deployment of innovative American technologies that convert methane—the main component of natural gas—into hydrocarbons used for transportation fuels and chemicals.  Fuels produced from methane conversion technologies are completely indistinguishable from petroleum fuels making them fully compatible with America’s existing infrastructure.  By deploying these technologies we will reduce our dependence on foreign energy sources in addition to producing fuels with substantially lower environmental emissions than petroleum-based fuels.
A number of innovative U.S. companies are developiong this technology.  However, because the tax code frequently lags behind innovation, these breakthrough technologies are at a competitive disadvantage to more mature and well known technologies.  The Converting Methane Into Petroleum Act would jump start private investment by extending certain existing tax credits to qualified methane converstion technology.  Specifically, it would extend the Section 48B investment tax credit – currently available to gasification projects – to the construction of facilities that will use methane conversion technology.  It would also extend the Section 6426 alternative fuel credit – currently 50 cents per gallon available to other transportation fuels derived from natural gas – to fuel
produced with methane conversion technologies.  In addition, the legislation has specific benchmarks to ensure that fuel produced with these technologies has a significantly improved environmental profile over the fuels currently used in the transportation
sector.
By encouraging the development and deployment of methane conversion technologies, we can help America capitalize on the natural gas revolution in a way that benefits our economy, national security, the environment, and the American consumer. I urge you to
cosponsor H.R. 3424, the Converting Methane Into Petroleum Act.  If you would like to cosponsor or have any questions about the bill, please contact Scott Stephanou at scott.stephanou@mail.house.gov or 202-225-2265.
Sincerely,
John Larson
MEMBER OF CONGRESS