Fuel Systems Solutions, Inc. (FSYS)

[Democritus_of_Abdera]

Re Nat Gas Act...

Johnsyn has provided a copy of an article by Nick Snow concerning current discussions of the Natural Gas Act (HR1380) in the US House Ways and Means Committee sub committees (dated Sept 23, 2011). see #msg-67432808.

The testimony upon which this article is based can be found at: http://waysandmeans.house.gov/Calendar/EventSingle.aspx?EventID=260256

The Nat Gas Act would be a great boon to FSYS, but to quote the Snow’s article “Members of the two subcommittees said that justifying subsidies of any kind has grown difficult amid growing calls to simplify the federal tax code.”

FSYS’s view regarding the timing of Nat Gas Act legislation was probably reflected by Pietro Bersani (FSYS CFO) in the Q&A of the Sept 14 2011 Think Equity Growth Conference; i.e.

Pietro Bersani : Well you asked USA, right? Well, as I guess you may know very well, I mean it’s approximately 2.5 years that we have been speaking about the natural gas there. So it is my personal opinion that probably, this is something that, which has nothing to do with this year, I mean before the year-end, due to the fact that we are entering an election year in light of the budget contract. I will be really surprised that this may come up with an approval before the end of next year. So that makes clear that we are not taking any account, any incentive plans, any specific tax credits, any signs of the government subsidy all over the world, because we simply believe that it’s something that which is not foreseeable right now.

And there is no doubt about the fact that if it should be happen – if it would happen, it may help but we don’t need that basically, because as often I’d like to say business comes first, what it means that especially countries like the U.S. where now we are experiencing an increasing interest by the large commercial fuel users in terms of the use in respect of the or regard to the use of alternative fuels, that will probably be a very powerful engine for the development of U.S. automotive business.

So that when you can see that the infrastructure is getting bigger and wider, so that any private consumer every time is stopping by a fuel station in order to make refuel to his car maybe realize that, well, look, instead of paying let’s say US$3.8 to US$4 per gallon, I could pay just 50% less around US$2 or US$2.5 per gallon. Can I do that? No, I can’t, because I don’t have a bio-fuel car, that is in general a push I would say of the process, so that commercial fleets alternative fuel makers infrastructure is like everybody is really on the starting line looking at each other and say, are we are really ready to get this step and yes we are.