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REPORT: BP finds big oil in Gulf of Mexico

Even during the recession, oil is hovering at around $70 per barrel. There are many reasons for elevated oil prices, such as emerging markets demanding more crude and market speculators. Perhaps the biggest reason of all, however, is that oil is just harder to come by, as all the obvious spots have already been drilled. So when a massive oil reserve is uncovered, it's big news. British Petroleum has made just such a find, as it has reportedly discovered between three and six billion barrels of crude oil and natural gas in the Gulf of Mexico ... Read more →

Gassed Up: Exxon Mobil posts record $45.2 billion profit in 2008 Jeremy Korzeniewski

Another year, another record profit statement from Exxon Mobil, the world's largest publicly traded oil company. The specific mind-numbingly large figure is $45.2 billion, which translates to $8.69 ...

GM may not break up with Big Oil on TV after all Jeremy Korzeniewski

Well, that breakup didn't last long. It seems that GM is looking to get back together even before it parted ways with Big Oil. We wonder, however, just how apt Big Oil will be to take GM back. ...

Hawaiian gas cap fails miserably Erin Mays

How do you commit political suicide? Why, institute a gas cap that costs your constituents $55 million more than it would have cost otherwise, of course. Hawaii governor Linda Lingle decided to ...

Chevron realizes 49 percent profit increase in first quarter Chris Paukert

High gasoline prices have to be good for someone, and in news that will shock few, those fortunate men and women appear to work for Big Oil. Chevron, America's second largest oil company announced ...

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People running out of gas in order to save some 3 years ago on Autoblog

Irony alert: California drivers have been hit so hard by the surge in gasoline prices that some are running out of gas -- on purpose -- and waiting for a tow truck to show up with some free go-juice courtesy their roadside assistance programs. In effect, they're running out of gas in order to ...

Auto industry and Big Oil trading blows 3 years ago on Autoblog

It would seem that if there are two parties who really shouldn't be playing the blame game regarding the world's energy problems: oil companies and auto manufacturers. That certainly hasn't stopped either from taking shots at each other in the media, however. Late last year, ExxonMobil ...

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Autoblog Podcast #157: Mike Levine trucks along with us.

Mike Levine from PickupTrucks.com joins Chris, Sam, and Dan this week and gets a chance to talk about cars, too!

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