Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: BP finds big oil in Gulf of Mexico]]>http://www.autoblog.com/2009/09/05/report-bp-finds-big-oil-in-gulf-of-mexico/http://www.autoblog.com/2009/09/05/report-bp-finds-big-oil-in-gulf-of-mexico/http://www.autoblog.com/2009/09/05/report-bp-finds-big-oil-in-gulf-of-mexico/#commentsFiled under:



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 about 250 miles off the coast of Texas. The find was made after BP drilled down a record seven miles, giving the oil giant another massive reserve a few hundred miles from where the natural resource is used most.

Autoline Daily notes that BP already pumps about 400,000 barrels per day in the region, and experts say the find could result in another 250,000 barrels of black gold a day towards the end of the next decade. That sounds mighty impressive until you remember that the U.S. uses about 20 million barrels of oil every day. Follow the jump to watch the latest edition of Autoline Daily.

[Source: Autoline Daily | Image: Roslan Rahman/AFP/Getty]

Continue reading REPORT: BP finds big oil in Gulf of Mexico

REPORT: BP finds big oil in Gulf of Mexico originally appeared on Autoblog on Sat, 05 Sep 2009 18:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>big oilBigOilBPBP OilBpOilbritish petroliumBritishPetroliumgas pricesGasPricesgulf of mexicoGulfOfMexicooilSat, 05 Sep 2009 18:03:00 EST<![CDATA[Autoline on Autoblog with John McElroy]]>http://www.autoblog.com/2009/04/10/autoline-on-autoblog-with-john-mcelroy/http://www.autoblog.com/2009/04/10/autoline-on-autoblog-with-john-mcelroy/http://www.autoblog.com/2009/04/10/autoline-on-autoblog-with-john-mcelroy/#commentsFiled under:

IT'S A FUEL PROBLEM, NOT A FUEL ECONOMY PROBLEM

Every single day, the United States ships $600,000,000 out of the country. That's what it costs us to pay for the oil we buy from other countries at $50 a barrel. It is the single biggest cause of our massive trade deficit.

The U.S. uses roughly 20 million barrels of oil every single day, and about 60% of that is imported. About 10 million of those barrels are used in transportation, including the kinds of cars and trucks you and I drive, plus all the planes, trains, heavy trucks and off-road vehicles in the country.

Yet, our entire effort to reduce our dependence on oil is based on Corporate Average Fuel Economy regulations (CAFE). And that only impacts passenger cars and light trucks. In other words, the industry that causes less than 50% of the problem is bearing 100% of the effort to fix it. No other industry is being regulated to reduce our dependence on oil, and that doesn't look like a very effective approach to me.

____________________________________________________________________________________

John McElroy is host of the TV program "Autoline Detroit" and daily web video "Autoline Daily". Every week he brings his unique insights as an auto industry insider to Autoblog readers.
____________________________________________________________________________________

Continue reading Autoline on Autoblog with John McElroy

Autoline on Autoblog with John McElroy originally appeared on Autoblog on Fri, 10 Apr 2009 15:57:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autolineautoline detroitautoline on autoblogautoline-detroitautolinedetroitAutolineOnAutoblogfeaturedjohn mcelroyJohnMcelroyoilFri, 10 Apr 2009 15:57:00 EST<![CDATA[Russia expected to be third largest global market by 2012]]>http://www.autoblog.com/2009/01/21/russia-expected-to-be-third-largest-global-market-by-2012/http://www.autoblog.com/2009/01/21/russia-expected-to-be-third-largest-global-market-by-2012/http://www.autoblog.com/2009/01/21/russia-expected-to-be-third-largest-global-market-by-2012/#commentsFiled under: , , ,

Russia has long been included under the "emerging markets" umbrella that carmakers have been saying would lead to future industry growth. The economic fallout put an end to those predictions, with Russia suffering just as badly - and if you include the oil sector, some would say even worse - as any other economy. But even though sales are down, Frost & Sullivan predicts that Russia could rebound to be the world's 3rd largest auto market by 2012, behind the U.S. and China.

The prediction is based on steps Russia is taking to strengthen its automotive sector: it is increasing import tariffs and limiting the importation of used cars. The new importation law, similar to one recently passed by Bolivia, reduces the maximum allowable age of an imported car from 7 years to 5. Russia is also reviewing bank lending practices, since the money it flushed into the economy hasn't really had an effect on loan availability yet (not unlike the U.S.).

Lending and the size of the import tariff that Russia imposes seem to be the most important factors in making this prediction come true. But one thing not mentioned in Frost & Sullivan's forecast was oil. When the world economy gets off its knees, the price of oil is going to head for the moon again, and "expensive" oil means more Russians with money, and that could mean a return to more sales, provided the country's oil barons share the wealth. You can read the full press release after the jump.

[Source: Frost & Sullivan]

Continue reading Russia expected to be third largest global market by 2012

Russia expected to be third largest global market by 2012 originally appeared on Autoblog on Wed, 21 Jan 2009 11:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto industryauto marketAutoIndustryAutoMarketavtovazeconomyemerging marketsEmergingMarketsetceuropefinancialsgazkamazoilrussiaWed, 21 Jan 2009 11:27:00 EST<![CDATA[Interactive map reveals our global oil useage by barrel, money]]>http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/#commentsFiled under:



The Rocky Mountain Institute has created a nifty interactive map that shows you where the U.S. gets its oil from, along with how much - and who - the U.S. pays for its oil. Based on the thickness of the lines, you can see just how much black stuff is coming from where. The map goes as far back as 1973, the year of the first oil crisis, and is accompanied by a graph charting usage and dollars since then. As you'll notice in the pic above, we give a whole lot of money to Saudi Arabia, as well as our Canuck friends up north.

Additionally, RMI has included information on oil production in the Arctic National Wildlife Refuge and the Outer Continental Shelf (in the Gulf) There are some interesting factoids to be found: ANWR drilling wouldn't start until 7-12 years after it's opened up, and peak production - up to 1.9 million barrels-per-day - isn't expected to commence until 20-30 years after that. Thus, drilling in the OCS probably won''t have any impact on fuel prices until 2030. Follow the link to check it out for yourself. Hat tip to reader Rick!

[Source: Technology Review]

Interactive map reveals our global oil useage by barrel, money originally appeared on Autoblog on Sat, 10 Jan 2009 10:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alaska drillingAlaskaDrillinganwrcontinental shelfContinentalShelfdiesel pricesDieselPricesdrillingfuelfuel pricesFuelPricesgasgas pricesGasPriceslifestyleoiloil drillingoil pricesoil refiningOilDrillingOilPricesOilRefiningrefineryrocky mountain instituteRockyMountainInstituteSat, 10 Jan 2009 10:02:00 EST<![CDATA[The NYT chimes in: time for a gas tax]]>http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/#commentsFiled under: ,

Can you hear that? Those are the war drums, and more and more of them are beating the same tune: bring on the gas tax. An editorial in The Gray Lady is the latest and arguably the weightiest to join the shock troops advocating for higher gas prices. The writer proposes a fluctuating consumption tax that would keep gas at least $4 per gallon in 2008 dollars, while an economist suggests a sliding tax on the price of a barrel of oil to achieve the same effect.

The NYT admits "a bitter recession is not the most opportune time to ratchet up the price of energy." But it balances that against the coming Obama administration's aims, the government's enviro-friendly suggestions to the U.S. auto industry, and Americans' claims to want to get off of foreign oil.

Although not mentioned specifically in the Times piece, some recommend a gas tax for a reason that has nothing to do with environmental stewardship: state governments need money. States are making enormous budget cuts, trying to sell and lease their lotteries, state parks, roads, bridges, and even their airports, and lining up for federal aid totaling hundreds of billions of dollars, and still saying they won't have enough money. The answer to "Will there be a gas tax?" could be, as Jesse Jackson once said, "The question is moot!" The question is not whether there will be a gas tax, but whether you will pay your additional taxes at the pump, at the toll booth, in your paycheck, etc...

[Source: New York Times]

The NYT chimes in: time for a gas tax originally appeared on Autoblog on Sun, 28 Dec 2008 13:04:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel pricesFuelPricesgas pricesgas taxgas taxesGasPricesGasTaxGasTaxesgovernmentnew york timesNewYorkTimesoiloil pricesOilPricesSun, 28 Dec 2008 13:04:00 EST<![CDATA[Gas too cheap: OPEC approves largest output cut ever]]>http://www.autoblog.com/2008/12/17/gas-too-cheap-opec-approves-largest-output-cut-ever/http://www.autoblog.com/2008/12/17/gas-too-cheap-opec-approves-largest-output-cut-ever/http://www.autoblog.com/2008/12/17/gas-too-cheap-opec-approves-largest-output-cut-ever/#commentsFiled under: , ,



You didn't really think OPEC was going to pack up its supercar fleet and shut down the holiday mansions while $1.55 gasoline -- and that's in California -- ruled the day, did you? Oh no. OPEC hasn't merely cut production, it gutted production by the never-before-seen amount of 2.2 million barrels per day. As for the market, surprised as it might have been, fazed it wasn't: oil sank to $40.20/barrel immediately after Khelil's announcement. Those are 2004 prices, which means - as far as oil's concerned - we're living Back to the Future.

[Source: MSNBC via Truckblog, photo by XcBiker | CC 2.0]

Continue reading Gas too cheap: OPEC approves largest output cut ever

Gas too cheap: OPEC approves largest output cut ever originally appeared on Autoblog on Wed, 17 Dec 2008 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>economyoiloil pricesOilPricesopecopec cutsopec productionopec reductionOpecCutsOpecProductionOpecReductionWed, 17 Dec 2008 16:30:00 EST<![CDATA[Gas prices pleasant as economy tanks]]>http://www.autoblog.com/2008/10/10/gas-prices-pleasant-as-economy-tanks/http://www.autoblog.com/2008/10/10/gas-prices-pleasant-as-economy-tanks/http://www.autoblog.com/2008/10/10/gas-prices-pleasant-as-economy-tanks/#commentsThe US, and in fact the entire civilized world, is knee deep in a financial meltdown. However, crashing stock markets and crumbling banking institutions have led to one pleasant side effect. The price of gas is dropping faster than the NASDAQ. A quick trip through south-east Michigan shows that gas prices have dropped below the $3.00 threshold, and tumbling crude prices show that even cheaper petrol is on the way. A barrel of oil now costs $77.70, which is in stark contrast to the $147 per barrel crude in July that lead to $4.25 per gallon gasoline. That's a drop of nearly $9.00 today alone, and OPEC has scheduled an emergency meeting to try to halt the precipitous drop of black gold. And since we're paying under $3.00 per gallon for oil that was purchased last month, that means we won't bear the fruit of the recent drop in crude until November.

While many of you were with us in praying for this drop, it's coming at a huge price. Gas is becoming more affordable because a set of Texas-sized Brembos put the brakes on energy use, but at least it's cheaper. At this rate, if the get depressed about the economy, we can afford to go for a quick ride without having to take out another loan on our crashing mortgages.

[Source: CNN Money]

Gas prices pleasant as economy tanks originally appeared on Autoblog on Fri, 10 Oct 2008 18:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>energy pricesEnergyPricesgas pricesGasPricesoiloil pricesOilPricesFri, 10 Oct 2008 18:32:00 EST<![CDATA[Could U.S. become net exporter of gasoline?]]>http://www.autoblog.com/2008/08/28/could-u-s-become-net-exporter-of-gasoline/http://www.autoblog.com/2008/08/28/could-u-s-become-net-exporter-of-gasoline/http://www.autoblog.com/2008/08/28/could-u-s-become-net-exporter-of-gasoline/#commentsFiled under: , ,

A number of factors are conspiring to create a situation that recently would have been unthinkable: the United States as a supplier of gasoline to world markets. According to Booz & Company, those factors are the rise of biofuels in the West, the introduction of plug-in electric and other alternative fuel vehicles, and the growth of the really cheap car, like the Tata Nano.

The United States imports oil to feed its gasoline habit, but the U.S. has refining capacity that developing nations cannot match. The U.S. is also lowering its reliance on traditional gasoline due to the price, states' mandates on switching to biofuels, and the dawn of mass market alternative fuel vehicles. This adds up to the United States importing oil, and then selling it to nations like India and China to feed their larger appetites for gasoline.

In the middle of all of this are the refineries, who made predictions for today's business plans two decades ago. Sure, no one is crying for them -- they need extra pages to include the zeros on their profit statements -- but they have to start figuring out who's going to need which products and how they are going to deliver them. And, by refining company standards, they need to do it quickly, which is a method of operation they aren't well versed in.

[Source: Green Car Congress via Kicking Tires; Photo CC 2.0 - National Archives]

Could U.S. become net exporter of gasoline? originally appeared on Autoblog on Thu, 28 Aug 2008 17:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alternative fuelalternative fuelsAlternativeFuelAlternativeFuelsgasgasolineoilrefineriesrefiningThu, 28 Aug 2008 17:32:00 EST<![CDATA[Is it over yet? Oil prices drop like a rock]]>http://www.autoblog.com/2008/07/19/is-it-over-yet-oil-prices-drop-like-a-rock/http://www.autoblog.com/2008/07/19/is-it-over-yet-oil-prices-drop-like-a-rock/http://www.autoblog.com/2008/07/19/is-it-over-yet-oil-prices-drop-like-a-rock/#commentsFiled under:



There's been a lot of head-scratching about the exact cause of the meteoric rise in price for a barrel of oil. Are speculators driving it to turn a quick buck? Is it the weakening value of the U.S. dollar? How about increaded worldwide demand? Chances are, all those forces are playing a part in the rise of fuel prices, and no single solution is likely to fix the problem.

Just as it was starting to look like prices would rise on a daily basis for the rest of eternity, the price of a barrel of oil dropped by $16 from Tuesday to Thursday. Economists point to the dismal economic and inflation news as a main factor for the drop. All we know is that ever since gas got more expensive, everything else started to follow suit. That leads us to spend less on things that we don't absolutely need, which probably isn't good for the economy.

With news of the large drop in the price of a barrel of crude, Wall Street got all excited and responded with a couple days of very positive gains in the stock market. Good news, right? Well, oil jumped by over $2 on Friday morning alone, so we'll have to see. Is the $4 per gallon nightmare almost over? Probably not, but we can hope.

[Source: Yahoo, Photo: Getty/Justin Sullivan]

Is it over yet? Oil prices drop like a rock originally appeared on Autoblog on Sat, 19 Jul 2008 13:06:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>gas pricesGasPricesOiloil july 2008oil pricesOilJuly2008OilPricesSat, 19 Jul 2008 13:06:00 EST<![CDATA[Scientists create bacteria that eat junk, produce oil]]>http://www.autoblog.com/2008/06/18/scientists-create-bacteria-that-eat-junk-produce-oil/http://www.autoblog.com/2008/06/18/scientists-create-bacteria-that-eat-junk-produce-oil/http://www.autoblog.com/2008/06/18/scientists-create-bacteria-that-eat-junk-produce-oil/#commentsFiled under: , ,

A company called LS9 is creating nearly pump-ready oil using single-celled bacteria. They start with industrial yeast organisms or "non-pathogenic strains of E. coli," and redesign their DNA so that they produce a different kind of waste. Crude oil is not far removed, molecularly, from the fatty acids expelled by yeast or E. coli during fermentation, so a little bit of DNA alteration bypasses the fatty acids and produces "Oil 2.0."

The "bugs" can be fed a variety of feedstock, from politically sensitive corn to Brazilian sugar cane to California wheat straw to Southern wood chips. The result is the same: crude oil that is almost ready to pour into your car. What's more: the enterprise is carbon negative, putting out less CO2 than the operation requires. At the moment it takes a 1,000-liter fermentation machine one week to make a 40-gallon drum of crude.

It will be a moment before they have a seamless industrial-sized operation. And there is that little concern of hundreds of billions of genetically-altered critters getting free and wreaking havoc on kids and puppies. But the promise of a steady supply of safely created $40 oil -- because even the Volt will need oil -- is not a bad thing to consider. Thanks for the tip, Brad!

[Source: Times Online via Engadget]

Scientists create bacteria that eat junk, produce oil originally appeared on Autoblog on Wed, 18 Jun 2008 09:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>crude oilCrudeOills9oilWed, 18 Jun 2008 09:31:00 EST<![CDATA[G8 nations ask for more oil, pledge to use less]]>http://www.autoblog.com/2008/06/09/g8-nations-ask-for-more-oil-pledge-to-use-less/http://www.autoblog.com/2008/06/09/g8-nations-ask-for-more-oil-pledge-to-use-less/http://www.autoblog.com/2008/06/09/g8-nations-ask-for-more-oil-pledge-to-use-less/#commentsFiled under: , ,

It's a complex issue, this business of oil. With stock markets and unemployment numbers taking their lumps, civilian unrest at oil and food prices, and politicians weighing in with all manner of cures and pronouncements, the Group of Eight nations got together to try and figure something out. The result: they want oil producing companies to produce more oil while they work on creating oil-independent fuel sources.

It's the equivalent of Wimpy saying to Popeye, "For a hamburger today I will gladly pay you on Tuesday." The G8 nations, including the U.S., want more of the black stuff to see them through this rough spot. In the mean time, all countries but Germany pledged to begin exploring nuclear power and building reactors, and examining technology like carbon capture and storage. Think of carbon storage as a sealed, underground landfill for coal plant emissions. If they can get it to work -- and find the space -- they can use more coal without creating more emissions.

An OPEC representative said there would be no decision on any production change until it convenes its next meeting in Vienna on September 9. In the mean time, the retail price of oil has passed $4 nationwide in the U.S. for the first time ever, and you can probably expect to pay more for gas as each week of summer passes.

[Source: Detroit Free Press]

G8 nations ask for more oil, pledge to use less originally appeared on Autoblog on Mon, 09 Jun 2008 18:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>g8gasgas pricesGasPricesoiloil pricesOilPricesopecthe economyTheEconomyMon, 09 Jun 2008 18:30:00 EST<![CDATA[Oil independence possible according to DoE scientist]]>http://www.autoblog.com/2008/06/04/oil-independence-possible-according-to-doe-scientist/http://www.autoblog.com/2008/06/04/oil-independence-possible-according-to-doe-scientist/http://www.autoblog.com/2008/06/04/oil-independence-possible-according-to-doe-scientist/#commentsFiled under: , ,

A scientist in the U.S. Department of Energy's science and energy research unit has said "Energy independence is a realistic goal for the United State of America," by 2030. There are, of course, a few caveats to that. First is that by the word "independence," he doesn't mean not using any oil entirely -- he means getting oil consumption down to a point where our usage is "not subject to restraining or directly influenced by others as consequence of the need for oil."

That, Greene says, is an issue of economics, not one of politics or the military (inasmuch as they can be separated). The key is to get the cost of importing oil down to one-percent or less of the U.S. GDP, which, by the way, is where it was during the heady we-can-take-baths-in-oil-there's-so-much-of-it decade of 1990-2000.

Greene thinks the Energy Independence Security Act will be the guide leading the way to this kind of oil independence, due to the CAFE increase, decreased demand for thirsty vehicles, and increased production and demand for biofuels and alternative energy cars. So now that the oil situation is licked, the only thing you'll need to worry about come 2030 is paying $12 for a cob of corn.

[Source: WardsAuto]

Oil independence possible according to DoE scientist originally appeared on Autoblog on Wed, 04 Jun 2008 08:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>biofuelbiofuel-policybiofuel-pricesbiofuelscafeeisaenergy independenceenergy independence ...EnergyIndependenceEnergyIndependence...oiloil independenceoil independent oakl...oil pricesoil productionOilIndependenceOilIndependentOakl...OilPricesOilProductionWed, 04 Jun 2008 08:02:00 EST<![CDATA[100 years ago today, Middle East oil discovered]]>http://www.autoblog.com/2008/05/26/100-years-ago-today-middle-east-oil-discovered/http://www.autoblog.com/2008/05/26/100-years-ago-today-middle-east-oil-discovered/http://www.autoblog.com/2008/05/26/100-years-ago-today-middle-east-oil-discovered/#commentsFiled under: ,



For seven years, William D'Arcy drilled well after well in Persia, now known as Iran, looking for oil. With his funding running low, and his employers getting quite impatient, D'Arcy drilled one last well and hit a gusher on May 26, 1908. The rest is history.

Six years after the discovery of the vast Middle Eastern oilfields, D'Arcy and the Anglo-Persian Oil Co. almost went out of business. They literally had oceans of precious oil and, by then, a pipeline to remove it from its remote resting place. What they did not have, ironically, were customers. Cars were the toys of the wealthy, ships mostly ran on coal and so did electrical plants. Winston Churchill, however, saw the benefits of running his navy on oil and soon had World War I to fight. Black gold quickly became one of the world's most coveted resources.

Years later, the Anglo-Persian Oil Co. bought the government-seized assets of a German firm that sold oil in Britain before the war. That company was called British Petroleum, a name adopted later by Anglo-Persian and shortened to BP in 2000.

[Source: BP via Wired]

100 years ago today, Middle East oil discovered originally appeared on Autoblog on Mon, 26 May 2008 15:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Anglo-Persian OilAnglo-persianOilbpbritish petroleumBritishPetroleumoiloil discoveryoil historyOilDiscoveryOilHistorywilliam darcyWilliamDarcyMon, 26 May 2008 15:05:00 EST<![CDATA[Will peak oil trigger Mad Max society?]]>http://www.autoblog.com/2008/02/13/will-peak-oil-trigger-mad-max-society/http://www.autoblog.com/2008/02/13/will-peak-oil-trigger-mad-max-society/http://www.autoblog.com/2008/02/13/will-peak-oil-trigger-mad-max-society/#commentsFiled under: , , ,

According to a study by the Energy Watch Group (EWG), all of you Mad Max fans out there might get the chance to live the movie if oil production continues to decline. The oil industry believes Earth's oil reserves can last about another 42 years at current pumping rates. Energy Watch, basing its conclusions on actual rates of production, says that oil production has declined since 2006 and will continue to do so -- by 2030, oil production could be half of what it is today.

The situation we're headed for -- and that some predict as soon as next year -- is called "peak oil." That means that although plenty of oil is still being pumped and sold, there isn't enough of it to go around. And that means the possibility of "widespread blackouts, the virtual collapse of transportation infrastructure in industrialized countries and a shortage of petroleum-based chemical fertilizers necessary to grow most of our food." And that means war, famine, pestilence, and hunger. A situation that is otherwise known as "deep doo-doo."

Of course, the caveat to all of this is that no really knows how this is going to play out. Long-range predictions have a way of being false as often as they're true (paperless office anyone?). We aren't suggesting that EWG is wrong, and we aren't saying that we don't need to be a lot smarter about our resources... but a lot is going to change between now and 2030. Who knows -- if a $30,000 Volt arrives in 2010, we could get another hundred years out of our oil supplies. Nevertheless, in case a Road Warrior future is in store, you might want to start practicing your lines now. Say it with us: You can run, but you can't hide!

[Source: Green Daily]

Will peak oil trigger Mad Max society? originally appeared on Autoblog on Wed, 13 Feb 2008 08:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>energy watch groupEnergyWatchGroupglobal oil productionGlobalOilProductionmad maxMadMaxoiloil pricesoil productionoil reservesoil supplyOilPricesOilProductionOilReservesOilSupplypeak oilPeakOilWed, 13 Feb 2008 08:31:00 EST<![CDATA[National average price of gas beats record levels after Hurrican Katrina]]>http://www.autoblog.com/2007/05/16/national-average-price-of-gas-beats-record-levels-after-hurrican/http://www.autoblog.com/2007/05/16/national-average-price-of-gas-beats-record-levels-after-hurrican/http://www.autoblog.com/2007/05/16/national-average-price-of-gas-beats-record-levels-after-hurrican/#commentsFiled under:



We resist writing posts on how expensive gas is nowadays because if we made it a habit, that's all we'd write. Every once in a while, however, there's a news story about gas prices that we can't ignore. This past week, the national average price of gas beat the previous record set in the first week of September 2005, the week following Hurricane Katrina's devastating landfall. The national average price of gas peaked at $3.11 that week. Since last January, however, the national average has been increasing on an uninterrupted pace. At the end of the first week of May, the average stood at $309.70. On May 14th, it was reported by the government to have risen to $314.30, eclipsing the previous post-Katrnia record. (Click here to view the government's archive of average fuel prices.)

We don't claim to be analysts in this area, so we wouldn't venture to guess what various factors are conspiring to push the price of gas ever higher. We don't know if or when it will level off, or perhaps even decrease, though we imagine the retreat of summer and colder temperatures will bring some relief. Nevertheless, we though it prudent to point out that as of May 14th, the price of gas is truly at record levels.

[Source: DailyFuelEconomyTip, Energy Information Administration]

National average price of gas beats record levels after Hurrican Katrina originally appeared on Autoblog on Wed, 16 May 2007 16:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cost of fuelCostOfFuelexpire-images:2008-5-15fuel pumpFuelPumpgas pricesGasPricesoilprice of gasPriceOfGasrecord gas pricesRecordGasPricesWed, 16 May 2007 16:28:00 EST<![CDATA[Gas station owner jacks up prices to prove a point]]>http://www.autoblog.com/2007/05/11/gas-station-owner-jacks-up-prices-to-prove-a-point/http://www.autoblog.com/2007/05/11/gas-station-owner-jacks-up-prices-to-prove-a-point/http://www.autoblog.com/2007/05/11/gas-station-owner-jacks-up-prices-to-prove-a-point/#commentsFiled under:

Perhaps it's not just gasoline users that oil companies are squeezing -- station owners might be locked in the vice as well. Bob Oyster, a Shell station owner in San Francisco, is making a statement to Shell and to his customers to let them know what he thinks of it.

To hear Bob tell it, Shell has made it impossible to stay in business. After owning his station for 22 years, he's returning it to Shell at the end of the month. Shell charges him more for gas in San Francisco than in other parts of the Bay, where he also owns stations, but won't let him buy gas anywhere else. They have also raised his rent by leaps and bounds. Five years ago he fought to keep his rent at $6,000 per month based on real estate values, when Shell wanted $13,000. This year they again requested $13K. Shell says that's what the market is worth. Oyster says "I got fed up." What did he do? He raised his gas prices to well over $4 a gallon, and ever since, he hardly sees a customer.

"It makes a statement," he said, "and I guess when people see that price they also see the Shell sign right next to it." Like other independent owners, Oyster makes his money off the convenience store extras, but his lot is so small he doesn't have room for much other than candy and cigarettes. He believes oil companies are trying to squeeze out the independents, but Shell says most of its stations are independently-owned and that that number is increasing. "I'm going out with a bang,'' says Oyster. "And I don't care if I don't pump a gallon on the last day.'' And he probably won't: the Chevron across the street sells gas for 70 cents less.

Thanks for the tip, Mike!

[Source: SF Gate]

Gas station owner jacks up prices to prove a point originally appeared on Autoblog on Fri, 11 May 2007 10:52:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bobchevrongasoiloystershellFri, 11 May 2007 10:52:00 EST<![CDATA[Ford officially extends oil change interval to 7,500 miles]]>http://www.autoblog.com/2007/03/22/ford-officially-extends-oil-change-interval-ot-7-500-miles/http://www.autoblog.com/2007/03/22/ford-officially-extends-oil-change-interval-ot-7-500-miles/http://www.autoblog.com/2007/03/22/ford-officially-extends-oil-change-interval-ot-7-500-miles/#commentsFiled under: , ,

Ford has been studying the question of when to suggest oil changes, and they've hit upon 7,500 miles for 2007 and newer cars. Not only are modern oils better, modern engines are also better. You don't have carburetors metering poorly on winter mornings, tolerances are a lot tighter, and operating temperatures are typically a little hotter, helping to cook off the junk that accumulates in the oil. Some manufacturers use a sensor to monitor the health of the oil and light a service lamp when it calculates change is required. Ford contends that its customers prefer a set amount of miles between changes. The automaker also cites the environmental benefits that come from less waste oil, monetary savings, as well as extensive tests as positive aspects of the new recommendation. I'm convinced that the only reason to suggest changing the oil at 3,000 miles in a modern car is to sell more oil. Perhaps an air-cooled Porsche would stress dino juice more, and could sensibly require changes at 3K, but you can stretch to drain intervals that would make your father gasp and clutch his chest by running modern oils in your modern engine. Of course, your driving pattern has a lot to do with it, as well. If you're in town for short hops, you'll require a shorter drain interval than the guy running Mobil 1 for his highway commute and changing the oil at 25 kilomile intervals (raising my hand).

[Source: AP]

Ford officially extends oil change interval to 7,500 miles originally appeared on Autoblog on Thu, 22 Mar 2007 10:36:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>7500drainFORDgarageintervalmaintenancemilesoiloil changeOilChangerecommendationrepairservicetechupkeepThu, 22 Mar 2007 10:36:00 EST<![CDATA[ExxonMobil earns record $39.5 billion in 2006]]>http://www.autoblog.com/2007/02/02/exxonmobil-earns-record-39-5-billion-in-2006/http://www.autoblog.com/2007/02/02/exxonmobil-earns-record-39-5-billion-in-2006/http://www.autoblog.com/2007/02/02/exxonmobil-earns-record-39-5-billion-in-2006/#commentsFiled under: ,

The oil empire that is ExxonMobil generated $39.5 Billion in profits in 2006 by providing to us the one thing we need most, good old-fashioned oil. A big reason for what amounts to the largest profit ever in U.S. history is the $3 per gallon gasoline that ruined our love for SUVs and trucks last year. Gas prices fell towards the end of the year, but ExxonMobil had already made its money by that point.

Many lawmakers want to heavily tax ExxonMobil for being too wealthy, but the oil guys point out that they spend a lot of money finding more oil so they can keep the crude coming. As it turns out, it's more expensive to drill a mile deep in the middle of the ocean than it is to poke a straw in the Saudi Arabian desert. Yeah, they're buying back a lot of stock too, but at least they're giving us the energy we need whenever we need it, which is better than the alternative.

[Source: The Car Connection]

ExxonMobil earns record $39.5 billion in 2006 originally appeared on Autoblog on Fri, 02 Feb 2007 13:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ExxonGas pricesGasPricesMobilOilFri, 02 Feb 2007 13:34:00 EST<![CDATA[Shellfish! Ferrari and Shell close down major cities to film commercial]]>http://www.autoblog.com/2007/02/01/shellfish-ferrari-and-shell-close-down-major-cities-to-film-com/http://www.autoblog.com/2007/02/01/shellfish-ferrari-and-shell-close-down-major-cities-to-film-com/http://www.autoblog.com/2007/02/01/shellfish-ferrari-and-shell-close-down-major-cities-to-film-com/#commentsFiled under: , ,

Shell Oil, those guys who are getting richer while we all get poorer at the gas pumps, are aiming to break the record for the most expensive advertisement, and the Super Bowl doesn't even factor into it. The fossil-fuels giant is a long-time sponsor of Scuderia Ferrari, and pours millions into the F1 team each year so that enthusiasts and consumers will associate its fuels - Shell V-Power high-performance gasoline, specifically - with Ferrari's racing success. But just to drive the point home even further, Shell is spending close to ?2 million to produce a television commercial.

Wondering how you could possibly spend that kind of cash on a TV ad? No big name endorsements; that's already taken care of. No elaborate sets or costly special effects; you don't need that when you've got a 700-horsepower F1 car at your disposal. The commercial is anticipated to feature an F1 race car speeding around the corners and down the streets of New York, London and Sydney. And we'll bet it's not going to be at five in the morning, either. Closing down big city streets in the middle of the day costs big, and Shell is spending big.

[Source: GrandPrix.com]

Shellfish! Ferrari and Shell close down major cities to film commercial originally appeared on Autoblog on Thu, 01 Feb 2007 13:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>adcommercialferrarifilmlondonmanhattannewoilshellsydneytvv-poweryorkThu, 01 Feb 2007 13:02:00 EST<![CDATA[Oil sludging atonement: Toyota settles class-action suit]]>http://www.autoblog.com/2007/01/17/oil-sludging-atonement-toyota-settles-class-action-suit/http://www.autoblog.com/2007/01/17/oil-sludging-atonement-toyota-settles-class-action-suit/http://www.autoblog.com/2007/01/17/oil-sludging-atonement-toyota-settles-class-action-suit/#commentsFiled under: , , , , , , , ,

If you're the owner of certain Toyota products built with the 2.2L I4 or 3.0L V6 between 1997 and 2002, you may soon be receiving notification from the automaker concerning its recent settlement in a class-action lawsuit. Filed as the result of damage caused by sludged oil (which ultimately can destroy an engine by clogging lubrication passages), the suit claimed that affected customers suffered from failures despite following Toyota's maintenance recommendations. As a result, Toyota will be extending the warranty of up to 7.5 million vehicles to 8 years and 120 days from the original purchase date (without regard for mileage), and will pay for damage incurred as a result of oil sludge - also referred to as oil gel.

In 2002, Toyota offered an extended warranty to some owners who were affected by the sludging problem, but many customers claim to have been accused of improper maintenance and were forced to pay for their own repairs.

Sludging is the result of several factors, some of which included longer drain intervals, tighter engine tolerances, and the typically higher operating temperatures of new engines. Several other manufacturers have also faced allegations of oil sludging problems and have responded in a variety of ways.

As a consumer, the best defensive measure is, of course, a regular oil change (following the "severe service" schedule if required) with a name-brand oil that meets the manufacturer's recommendations for viscosity and API service rating. Some manufacturers recommend different viscosities for operation in extremely hot or cold climates; as always, the owner's manual is an outstanding source of information on matters like these.

[Source: Consumer Affairs; a hat tip to AB readers Drew and Ryan]

Oil sludging atonement: Toyota settles class-action suit originally appeared on Autoblog on Wed, 17 Jan 2007 09:04:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>campaigngelgellinglawsuitoilrecallsilentsludgesludgingsuetoyotaTSBWed, 17 Jan 2007 09:04:00 EST