I don't have a position in $CLNE, so don't honestly care one way or another if anyone reads this, but I work in the natural gas industry for a larger utility company, and have first hand experience with RNG so thought I would share my insight.
RNG is like the crackhead Craigslist of natural gas. In the state that I work in we purchase RNG from 6 suppliers for our gas distribution system, 2 landfill reclamation locations, and 4 large dairy farms, so the cow shit variety. Ever since it was introduced into our pipelines we've had nothing but problems with it.
Biogas comes out dirty as hell, and needs a lot of work to refine and remove contaminants, before it's even usable RNG. It has to have excess moisture and particulate removed, processed to remove carbon dioxide, dinitrogen, organic compounds, siloxanes and a bunch of other gross shit we don't want in our gas.
Farmer John don't know shit about the chemistry of gas, and neither does your trash man. They just know that garbage and cow farts smell like money, and wouldn't know what a gas chromatograph was if they caught it plowing their wife. They open the valve and get the meter spinning on their shitty gas flowing out into the system.
Immediately we started getting water in our gas pipelines due to their poor attempts at meeting the required moisture levels in the RNG. Next was the high levels of sulphur, which fun fact, when combined with the water turned into sulphuric acid, that started eating our steel pipelines from the inside out. We ended up having to replace a few miles of pipeline closest to the worst farm because it caused so much damage before we realized it was happening.
Next came the siloxanes, which turned into this hard white shit when high volumes of the gas were burned. We found this out the hard way, when our largest customer ($CLF) started having plugged orifices on some of their furnaces. I'm not one to kink shame, you can plug whatever orifices you want, but CLF was super not into it, and threatened law suits until we signed an agreement to never send RNG into their systems again.
TLDR: If natural gas was an eightball of cocaine you bought from a dude who only spoke spanish in Miami, RNG is an eightball you bought in a trailer park in North Dakota. It still sort of gets you fucked up, but it cost twice as much and has so much baby laxative in it that you shit your pants the first time you tried to fart.
Bearish on cow farts
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