Archive for Category: "Oil & Gasoline"
Exxon Strikes Artic Oil Deal With Russia
Exxon and Rosneft, Russia’s state oil company, reached an agreement today to explore for oil in a Russian sector of the Artic Ocean. The agreement outlines plans for the two corporations to invest $3.2 billion in the exploration of the Kara Sea and Black Sea. These areas are widely unexplored and are amongst the most [...]
Gas Prices Fall for 3rd Consecutive Week
It was no more than 2 months ago the rumor nationwide was that gas prices would surpass $4.00 a gallon and near $5.00. Ever since we heard that talk it has seemed gas prices have done nothing but the opposite. The average gas price nationwide this week was $3.79 a gallon. Down from $3.96 just [...]
Oil Leak May Continue Until August
As the memorial day weekend comes to an end, everyone is worried about the Oil Disaster in the Gulf of Mexico. BP’s latest attempt known as “Top Kill” was a failure and now the company is trying to find more ways to curb this disaster. According to Associated Press, Grand Isle just off the coast [...]
Obama vows ‘relentless’ response to oil spill
President Obama said Sunday his administration has mounted a “relentless response” to the oil spill unleashed by the sinking of an offshore drill rig. “We will spare no resource to clean up whatever damage is caused,” Obama said after a briefing with state, local and federal officials in Louisiana. Obama met with the commandant of [...]
GM to Develop Jatropha-to-Biodiesel Project in India
General Motors Co. today announced a five-year partnership with the U.S. Department of Energy (DOE) to help develop the potential of the jatropha plant as a sustainable biofuel energy crop. Traditionally considered a weed, jatropha plants produce an oil that can be refined into biodiesel. The goal of the project is to demonstrate that jatropha [...]
Gas prices rise by 12% in 3 weeks
Gas prices rose overnight, with the national average up nearly 12% in less than three weeks, according to a daily survey. The national average price for a gallon of regular gasoline rose 0.9 cent Friday to $2.290 a gallon, reported motorist group AAA. Friday’s increase marks the 17th straight day of gains, during which time [...]
Carmakers falling short on EU emissions targets
Car makers are not doing enough to meet proposed EU targets for cutting carbon dioxide emissions, according to a report Tuesday, with some German and Japanese brands facing the biggest challenge to make the grade. The European Commission wants all carmakers to reduce average emissions to 120 grams of carbon dioxide per kilometre (0.6 miles) [...]
Govt delays 2p fuel duty hike as oil surges
The government is to suspend a planned increase in fuel duty, Chancellor Alistair Darling said Wednesday, following protests by truck drivers and outrage from motorists' organisations over pump prices. The 2p rise was due to take effect in October but has now been postponed amid soaring world oil prices which hit peaks above 147 dollars [...]
U.S. gas: So cheap it hurts
Despite daily headlines bemoaning record gas prices, the U.S. is actually one of the cheaper places to fill up in the world. Out of 155 countries surveyed, U.S. gas prices were the 45th cheapest, according to a recent study from AIRINC, a research firm that tracks cost of living data. The difference is staggering. As [...]
Car makers could face 75mpg rules by 2030s
The nation's passenger cars and light trucks may have to average 75 miles per gallon by the 2030s, a top federal environmental official said at the SAE International World Congress. Margo Oge, director of the Environmental Protection Agency's Office of Transportation and Air Quality, said Monday at the SAE International 2008 World Congress in Detroit [...]
