American Gas - August/September 2014 - (Page 12)

DIGEST Continued from page 11 chemicals and desalinated water for reuse, the university said in a statment. Penske Truck Rental has added 85 CNG semi-tractors to its ﬂeet for commercial rental use in select markets, including Northern and Southern California, Phoenix, Denver, Salt Lake City, Dallas-Fort Worth, Atlanta, and Baltimore. The Freightliner Cascadia semi-tractors are equipped with Cummins Westport 12-liter engines. "An increasing number of customers have expressed a desire to incorporate natural gas vehicles into their ﬂeets to further reduce emissions," said Don Mikes, senior vice presidentrental of Penske Truck Leasing, based in Reading, Pa., in a statement. expectation that extreme weather events, which could raise energy prices, will become more common. In fact, on the day that the third National Climate Assessment report was released in May, investors poured $332 million into energyfocused ETFs, and Standard & Poor's Energy Index reached a record high, Bloomberg said. A ﬁnal factor is the recovering economy. "Energy ETFs have seen strong interest in 2014 as investors have looked toward more cyclical-orientated sectors of the market," David Mazza, head of ETF investment strategy at State Street Global Advisors, told American Gas. "Through the end of May, the sector has seen $4.7 billion of inﬂows, with May seeing close to $1.4 billion of inﬂows." In June the energy-focused private-equity ﬁrm First Reserve closed on a $2.5 billion fund to back energy infrastructure. The fund, oversubscribed by $500 million, will invest in pipelines, storage, LNG facilities, and other energy assets. Investment dollars are also ﬁnding their way to gas utilities. Berkshire Hathaway, which owns stakes in North American gas pipelines, Raise the bar. producers, and utilities, plans to make further bets on gas reserves, transport, and distribution, Berkshire Chairman Warren Buffett said in June. The ﬁrm has put billions of dollars of retained earnings and new equity into the energy industry, "and we're going to keep doing that as far as the eye can see," Buffett told an audience at the Edison Electric Institute's annual convention in Las Vegas. In May Berkshire's MidAmerican Energy Holdings agreed to pay $5.6 billion for NV Energy, a gas and electric utility serving markets in Nevada. The Hennessy Funds' Gas Utility Index Fund (GASFX)-composed of AGA investorowned members that deliver natural gas-was up nearly 17 percent for the year ending midJune, while the broader S&P 500 index is up just over 6 percent. In addition, GASFX has reached all-time levels in terms of total assets of approximately $2 billion. "Strength in utility stocks suggests investors have taken a more defensive mind-set in 2014 compared to last year's big rally," The Wall Street Journal wrote in May. -E.S. Patented by A.Y. McDonald, our unique Gas Bypass Meter Bar allows you to change out a meter without interruption of service. You don't have to turn off the gas, re-light the pilots, or enter your customers' home or business. No more missed appointments and wasted time - just better productivity and profitability. Choose A.Y. McDonald for: * Friendly, responsive, dedicated customer service specialists * Quality products built exclusively for professional installation * Revolutionary designs that improve safety * Application-specific solutions to meet your needs Visit aymcdonald.com to learn more about our quality product lines, dependable customer service, and more than 155 years of industryleading expertise. More than a brand. We're a family. aymcdonald.com 1-800-292-2737 sales@aymcdonald.com http://www.aymcdonald.com http://www.aymcdonald.com http://www.aymcdonald.com

Table of Contents for the Digital Edition of American Gas - August/September 2014

Contents

American Gas - August/September 2014