Sponsors come and sponsors go in Formula One, but they tend to stick around awhile at McLaren. The team ran under Marlboro title sponsorship for 22 years from 1974 to 1996, and Hugo Boss has been with the team for 33 years now since 1981. But it's the team's partnership with Mobil 1 which it will celebrate with the sinister livery pictured here.
Earlier this year, an ExxonMobil pipeline oil spill dumped around 5,000 barrels of heavy crude oil in suburban Mayflower, AR. It was a mess, and prompted a discussion about oil pipelines in the US, most notably the controversial Keystone XL pipeline. Yesterday, the US Department of Justice and the state of Arkansas filed a joint lawsuit against the oil company over the spill, claiming Exxon violated state pollution laws, according to Reuters. ExxonMobil declined to comment on the matter to Reute
As expected, a Democratic bill that would have put an end to the multi-billion-dollar annual tax subsidies for oil companies Chevron, Shell, BP, ConocoPhillips and Exxon Mobil failed to overcome a Republican filibuster on Tuesday evening. The heavily partisan 52-in-favor, 48-against vote fell eight shy of the 60 required to bring the bill to the floor.
As expected, a Democratic bill that would have put an end to the multi-billion-dollar annual tax subsidies for oil companies Chevron, Shell, BP, ConocoPhillips and Exxon Mobil failed to overcome a Republican filibuster on Tuesday evening. The heavily partisan 52-in-favor, 48-against vote, fell eight shy of the 60 required to bring the bill to the floor.
Money talks, but how can we know what it's saying? Exxon Mobil is investing $600 million into a 5- to 6-year algae biofuel project with biotech company Synthetic Genomics. The biofuel will be made from "sunlight, water and waste carbon dioxide by photosynthetic pond scum," writes the New York Times. After the first $600 million is used and if the technology appears to be working, billions more could follow in order to get the produciton process ready for commercial application. The goal is to pr
If you had gobs and gobs of money, would you spend some on an electric car? What if your core business was selling people oil and gasoline? That's what ExxonMobil is all about, but the company is backing the electric car sharing program AltCar that uses a new EV called the Maya 300. News has been available on this unusual partnership with Electrovaya for a long while, but more details should be announced tomorrow when Electrovaya opens up about the car. Electrovaya has been signing deals and wor
Components from F1 cars – especially championship-winning F1 cars – don't go to waste. Collectors eagerly snap them up and put them on display as fast as the teams will release them. But in this case, the motor oil from Lewis Hamilton's title-winning McLaren-Mercedes MP4-24 was used to create a tribute to the driver.
If you know what the acronym VMT stands for, then this story probably won't come as much of a surprise. VMT stands for vehicle-miles traveled, and Americans drove their VMT numbers way, way down last year. VMT is just one way to measure demand for oil, and the decrease in VMT plus the rise of fuel-efficient vehicles - and fuel-free electric cars - means that the oil industry is gearing up for something new: the end of the oil slurping era. You don't need to take my word for it, the industry-frie
It's almost expected now that each quarter Exxon Mobil will produce a new record profit. Last quarter, though, as the largest publicly traded oil company in the world saw its profits decline by 27 percent, that didn't happen. Don't feel too bad for the company, though, as even in a down market, the oil giant still took in $84.7 billion, which was enough to set a new record for profit over the entire year of 2008 at $45.2 billion. Record high fuel prices from the second and third quarters of last
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 per share. While this figure handily beats the previous record of $40.6 billion that had been set by Exxon Mobil in 2007, these huge profits were recorded mostly in the second and third quarters of 2008 when fuel prices were at record levels in much of the world. Fourth quarter earnings fell by 27%, t
Another quarter passes, another record profit is set by Exxon Mobil. It's a bit of a broken record by now... literally. If you have a weak stomach, perhaps you should quit reading here. For the rest of us, here are the gory details: Total net profit comes in at a staggering $14.83 billion, besting its previous record (which was just set last quarter) of 11.68 billion. That income equals $1,865.69 per second, in case you cared. Total revenue taken in was $137.7 billion, which equates to a lot of
Is it just me or has there been a lot less hydrogen news coming out recently than usual? Finally, though, the drought has ended and we have ExxonMobil Refining and Supply Company to thank for bringing it up again. The news is that ExxonMobil will be getting a supply of hydrogen from Air Products (they of the mobile hydrogen refueling station) via a hydrogen pipeline network in the West Gulf Coast. ExxonMobil refineries in Baytown, Texas and Baton Rouge, Louisiana will get the hydrogen product st
First, let's get the hard data out of the way: Exxon's $11.68 billion of profit last quarter was the highest ever recorded by any company, topping it's own previous record from the last quarter of '07. For those who like to keep track of such things, that is nearly $90,000 a minute; $1,500 every second. That's a lot of dough, for sure, but it is actually not as high as some investors were expecting, causing a bit of a sell-off this morning following the earnings announcement. It seems that some
With gas prices as high as they are, it might seem hard to believe that some gas companies aren't profitable, but apparently Exxon Mobil isn't doing as well as they might wish. The company just announced that it will be selling off its gas stations for financial reasons. We suspect that the industry keeps itself shrouded in mystery to protect its profit at times, but Exxon Mobil, Chevron and ConocoPhillips, to name a few, have all stated that certain nebulous factors in the supply, demand and re
General Motors has fallen once again on the Fortune 500 list of America's top-grossers. The General had once stood strong atop the rankings, having fallen from the top spot in 2001 at which time Wal-Mart took over. For the last few years, Exxon-Mobil and the big box retailer have battled for the first two positions on the list with GM claiming third place. This year, soaring demands for energy have allowed Chevron to nudge past GM on its way to a third place finish. General Motors, at number fou
While the amount of energy the world demands every year is tremendous, the cost of finding and purchasing that energy is just as staggering. According to this article, ExxonMobil plans to spend between $25 and $35 billion every year for the foreseeable future in search of more oil. Even as established oil reserves dry up, the company is finding more oil through their new operations than they have been losing from closing their old ones. With $40.6 billion dollars in profits last year, the compan
Late last week, ExxonMobil announced that it, along with Japanese company Tonen Chemical, had developed a new plastic film technology for automotive lithium-ion batteries. And, since ExxonMobil was going to be at EVS23, I set up an interview with people who could tell AutoblogGreen readers more about this product. Thanks to a missed flight, I was not able to meet with ExxonMobil representatives at our appointment on Sunday but did connect with James Harris (pictured), the senior vice president o
To be sure, we need U.S. and ExxonMobil oil production - I use about four gallons a week myself - and I credit the geologists and petroleum engineers of the world for getting it to us. After all, we need it to keep ourselves moving while we transition to the vehicles you read about here on ABG and their non-petroleum energy sources - biofuels, hydrogen, renewable electricity, plus the alternate lifestyles global warming will require - more biking, walking, telecommuting, etc. The point is we can