Notes From Down South And Far West -- UPS/Clean Energy Fuels Agreement -- July 12, 2019

This seems like a pretty big story.

Let's see if the market agrees.

CLNE: maybe, maybe not. Wow, CLNE has fallen off a cliff the past five years.

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From the EIA, link here:

On May 22, 2019 United Parcel Service (UPS), a global provider of shipping and delivery services, announced that the company would increase its use of renewable natural gas (RNG) in the United States. UPS purchased 170 million gasoline gallon equivalent (gge) from fuel supplier Clean Energy Fuels to meet this commitment, which supports UPS’s sustainability goals. RNG consumption has increased significantly in recent years, and according to UPS, this agreement will be the largest commitment to RNG to date by any company in the United States.

On May 23 - 24, 2019, there appears to be a slight jump in CLNE but then it's been downhill ever since.

The sites are in the south and far west:

Wow, it seems like it's taking forever to get these NG corridors established. T. Boone Pickens has been at this since 1988.

• 1996: Pickens and Littlefair spin off a natural gas fueling business from Mesa Petroleum – 3 fueling stations, 1 employee and a repair truck. The new company is named Pickens Fuel Corp.
• 1997: Pickens Fuel Corp., forerunner of Clean Energy Fuels, opens doors in Seal Beach, CA. Pickens Fuel Corp buys SoCal Gas Company’s 33 natural gas fueling stations for $3.6 million. During the second half of the year, Pickens Fuel Corp. sells the equivalent of 2 million (GGEs) gallons of gasoline in natural gas fuel.