New Chrysler Tank makes it Easier to Use Natural Gas in Cars and Trucks

The use of natural gas to power vehicles could become widespread thanks to a new storage tank developed by Chrysler Group. Automotive News reported that the new tank will free automakers from the need to use large cylinders to store natural gas in. Previously natural gas for vehicles had to be stored in special cylinders similar to the ones on barbecue grills. The new tanks use a shape similar to the human lung to store in several different compartments. Chrysler demonstrated a Dodge Ram 2500 pickup truck equipped with the technology. The ram has a 5.7 liter Hemi V-8 capable of burning both natural gas and gasoline. It also has a range of up to 255 miles on a tank of natural gas. Chrysler is part of Italian automaker Fiat Group S.p.A.

. The news of the new tank didn't help Chrysler's share price it was down by .95% in trading on Nov. 13. Chrysler didn't announce any plans to sell vehicles with the new tanks to public nor did it mention plans to sell the technology to other automakers such as Honda Motor Company

or General Motors

. Those companies share prices were up slightly on Nov. 13. This new tank might be better news for oil and gas producers such as Anadarko Petroleum

and Chesapeake Energy

which have large holdings of natural gas in the United States than for automakers. In trading on Nov. 13, Anadarko share price rose by 1.43% and Chesapeake Energy's share price rose by 1.33%.