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: Consumers increasingly shying away from small cars; owners unhappy]]>http://www.autoblog.com/2009/10/06/report-consumers-increasingly-shying-away-from-small-cars-owne/http://www.autoblog.com/2009/10/06/report-consumers-increasingly-shying-away-from-small-cars-owne/http://www.autoblog.com/2009/10/06/report-consumers-increasingly-shying-away-from-small-cars-owne/#commentsFiled under:


2011 Chevrolet Cruze - Click above for high-res image gallery

When gas prices spiked above $4 per gallon in the summer of 2008, car buyers appeared to find their small car zen. Toyota Corollas, Honda Fits and Civics, Chevrolet Cobalts and Ford Focuses were flying off dealer shelves at a fevered pace, while truck buying dropped through the floor. Fast-forward to present day and car buyers are once again picking bigger vehicles while many of last year's "smart" small car buyers may be experiencing a bit of buyer's remorse.

A closer look at the current sales charts shows that Americans may not be too keen on small cars after all, as News Chief is reporting that America's compact car market has dropped 15% year over year. Even used small cars are taking a beating, as Kelley Blue Book reportedly told NC that small car residuals have dropped like a stone while larger vehicles are becoming increasingly valuable. In August 2008, truck prices dropped by 17% versus the same point in 2007, but from 2008 to 2009 overall truck sales jumped by 23%.

Perhaps the biggest issue here is that many of the customers who went small in 2008 are now unhappy with their more economical vehicles. George Peterson, president of AutoPacific told NC that a recent survey of 32,000 car buyers showed that customers aren't thrilled with their new small car, quoting customers as saying "'It does what I want, but it doesn't have what I want. It doesn't have the features, the power, the room, and next time I'll opt for a bigger car.'"

The survey showed that 30% of small vehicle buyers would like more power with their next new car or truck, 25% want more cargo room, and 25% want more technology. 18% of those surveyed would like more safety and 22% would like a softer ride. Only half of the subcompact buyers would opt for a compact vehicle with their next purchase, while 35% want a midsized sedan and 18% want a crossover or SUV.

While the Auto Pacific survey results shows that many car buyers are looking away from compacts with their next purchase, automakers are ramping up small car production. New products like the Ford Fiesta and the Chevrolet Cruze are coming Stateside over the next year or two, and if the apparent trend away from small cars continues, automakers will be fighting over a familiarly small group of perspective buyers. Unless, of course, gas prices once again spike into the stratosphere, in which case we're likely to repeat this process again.


Gallery: 2011 Chevy Cruze


[Source: News Chief]

REPORT: Consumers increasingly shying away from small cars; owners unhappy originally appeared on Autoblog on Tue, 06 Oct 2009 19:30:00 EST. Please see our terms for use of feeds.

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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.

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Hyundai Assurance Gas Lock ads - Click above to watch the videos after the jump

Hyundai is piling on additional incentives to boost its Assurance program as the industry heads into the dog days of summer. The newest promotion, Gas Lock, fixes the price of regular unleaded at $1.49 per gallon for the next year. The program runs July 1 through August 31, and eligible vehicles include the Accent, Sonata, Tiburon, Elantra, Elantra Touring, Entourage, Azera, Santa Fe, Tucson and Veracruz. Customers choosing to utilize Gas Lock will forgo $1,000 in available rebates, making the incentive a gamble that gas prices will remain high.

Hyundai Assurance struck at cord with the American public when it offered payment protection in the event of job loss. Now Hyundai is looking to give consumers increased peace of mind over of the volatility of gas prices, which have swung from under $2 a gallon a few months ago to nearly $3 at the beginning of summer.

John Krafcik, CEO and president of Hyundai Motor America, says the company's research shows that "nearly 40% of potential new car buyers are staying out of the market specifically due to uncertainty around future gas prices."

You may remember that last year, Chrysler tried a similar promotion, offering the opportunity to lock in gas at $2.99 per gallon when a gallon of petrol was at an all-time high of about $4.50. The move didn't appear to be very successful for the Pentastar, as most opted to instead take the upfront cash on the hood. Hit the jump to pour over the particulars of Hyundai's Gas Lock promotion, watch the two commercials, and let us know in the comments section if you feel customers would be better off taking the $1,000 or one year of $1.49 gasoline.

[Source: Hyundai | Image: Justin Sullivan/Getty]

Continue reading New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO]

New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO] originally appeared on Autoblog on Tue, 30 Jun 2009 11:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>azerafuel pricesFuelPricesgasgas lockgas pricesGasLockgasoline pricesGasolinePricesGasPriceshyundaihyundai assuranceHyundaiAssuranceincentivesrebatessanta feSantaFesonatatucsonveracruzTue, 30 Jun 2009 11:28:00 EST<![CDATA[Kuwaiti Oil Minister reportedly says OPEC won't increase production until prices hit $100/barrel]]>http://www.autoblog.com/2009/06/11/opec-well-let-oil-get-to-100-a-barrel-before-we-increase-prod/http://www.autoblog.com/2009/06/11/opec-well-let-oil-get-to-100-a-barrel-before-we-increase-prod/http://www.autoblog.com/2009/06/11/opec-well-let-oil-get-to-100-a-barrel-before-we-increase-prod/#commentsFiled under: , , ,



America might get most of its oil from Canada, but the moves that OPEC makes still reverberate here. Thus, a statement by the Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah to reporters yesterday probably won't help decrease domestic gasoline prices any time soon. OPEC's al-Sabah said that the organization will not consider increasing production until the price of a barrel of oil reaches $100.

Currently, the price is around $70 a barrel - up almost 60% this year - but way, way down compared to the highs of 2008. Oh, and when the $100 price per barrel threshold is reached, only then will OPEC "maybe" consider putting more supply into the market. The organization sees the recent rise in prices as the result of investors looking for good places to put their money, not because demand for the product is rising. Over the middle-to-long term, many expect forecasters expect prices to easily surpass $100 a barrel once again.

[Source: Bloomberg | Image: David McNew/Getty]

Kuwaiti Oil Minister reportedly says OPEC won't increase production until prices hit $100/barrel originally appeared on Autoblog on Thu, 11 Jun 2009 16:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>al-sabahbarrel of oilBarrelOfOilgas pricesGasPricesKuwaitKuwaitioil priceoil pricesOilPriceOilPricesOPECSheikh ahmed al-abdullah al-sabahSheikhAhmedAl-abdullahAl-sabahThu, 11 Jun 2009 16:57:00 EST<![CDATA[REPORT: Energy Department predicting summer gas price high of just $2.30/gallon [w/POLL]]]>http://www.autoblog.com/2009/04/15/energy-department-predicting-summer-gas-price-high-of-just-2-30/http://www.autoblog.com/2009/04/15/energy-department-predicting-summer-gas-price-high-of-just-2-30/http://www.autoblog.com/2009/04/15/energy-department-predicting-summer-gas-price-high-of-just-2-30/#commentsFiled under: , , ,


Click on the image above to take our summer of 2009 gas price poll

We've heard it a million times: What's good for General Motors is good for America. Well, if low gas prices are good for America (and that is a debatable point), then Charles Wilson's saying does not work the other way around. According to USA Today, the U.S. Energy Information Administration is predicting that gasoline prices will hover around $2.23-$2.42 between now and the end of 2010, with a summer high of just $2.30 this year.

Why does GM care about this? Because they need higher prices to make their forthcoming Chevrolet Volt extended-range plug-in more appealing. GM has already admitted that the Volt's price tag will be connected to the price of gas when the plug-in car goes on sale at the end of 2010. Before he was booted, then-CEO Rick Wagoner said that $4 gallons were not the worst idea.

Why does the EIA think that $3 gasoline isn't on the horizon any time soon? Because of low demand and low global crude prices. The weak economy and surplus oil production capacity don't help one bit, either. Diesel fans could feel like winners, though: the EIA thinks that diesel prices might soon drop below gasoline for the first time in two years.

What do you think the average price of gasoline will be this summer? Click on the jump and place your best guess in our poll!


Gallery: 2011 Chevy Volt


[Source: USA Today | Image: Justin Sullivan/Getty]

Continue reading REPORT: Energy Department predicting summer gas price high of just $2.30/gallon [w/POLL]

REPORT: Energy Department predicting summer gas price high of just $2.30/gallon [w/POLL] originally appeared on Autoblog on Wed, 15 Apr 2009 14:57:00 EST. Please see our terms for use of feeds.

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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%, though it's tough to feel too sorry for a company that still made $84.7 billion in the down economy.

Chevron, second only to Exxon Mobil in size, managed to post a $43 billion profit in 2008, but other smaller oil companies haven't been quite as successful in navigating the sinking global economy. Royal Dutch Shell, Europe's largest oil company, posted its first quarterly loss in a decade after seeing huge profits earlier in the year. The coming year should prove to be a similar challenge for each of the oil producing companies.

[Source: AP via Google | Photo by David McNew/Getty]

Gassed Up: Exxon Mobil posts record $45.2 billion profit in 2008 originally appeared on Autoblog on Fri, 30 Jan 2009 12:29:00 EST. Please see our terms for use of feeds.

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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[Cheap gas saves Americans $1B per day]]>http://www.autoblog.com/2008/12/28/cheap-gas-saves-americans-1b-per-day/http://www.autoblog.com/2008/12/28/cheap-gas-saves-americans-1b-per-day/http://www.autoblog.com/2008/12/28/cheap-gas-saves-americans-1b-per-day/#commentsThe severe economic downturn here in the US has lead to all sorts of bad news. Layoffs, business closings, and bailouts dominate the headlines, and good news can be hard to find. One of the only reasons to hold our heads high has been the unprecedented drop in gas prices. The recession has caused a decrease in oil demand, which has lead to fuel costs that dropped from $4.11 per gallon in July to $1.62 today. That's a decrease of almost $2.50 per gallon in only five months.

Tom Kloza, chief oil analyst for Oil Price Information Service, says the meteoric fall of fuel prices has been so dramatic that Americans are now paying $1 billion less per day than they were in July. The extra cash in Americans' pockets is likely helping to avoid an even greater financial calamity, though even a billion a day isn't going to make the recession go away. Still, it's nice that we can go to the gas station without consulting with a financial analyst or raiding the children's college fund.

[Source: Detroit Free Press]

Cheap gas saves Americans $1B per day originally appeared on Autoblog on Sun, 28 Dec 2008 11:06:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>1 billion per day1BillionPerDaycrude oilCrudeOilgas pricesGasPricesprice dropPriceDropSun, 28 Dec 2008 11:06:00 EST<![CDATA[Ward's columnist wonders if Americans can handle the truth about gas taxes]]>http://www.autoblog.com/2008/12/27/wards-columnist-wonders-if-americans-can-handle-the-truth-about/http://www.autoblog.com/2008/12/27/wards-columnist-wonders-if-americans-can-handle-the-truth-about/http://www.autoblog.com/2008/12/27/wards-columnist-wonders-if-americans-can-handle-the-truth-about/#commentsFiled under: , , ,



People have always had something of an aversion to hard truths. Most Americans say they want their country to get off foreign oil or help the environment, but when it comes to the bottom line, they want cheap fuel. And when the prices on gas pumps start to dip, consumer interest in smaller more efficient vehicles tends to go out the window. Understandably, drivers everywhere tend to make vehicle purchasing decisions in large part based on fuel prices.

Ward's Auto World columnist Drew Winters notes that executives like Bob Lutz have long advocated that fossil fuel prices need to increase in order to make more efficient vehicles appeal to consumers. But with U.S. consumers' almost instinctual avoidance of taxation, it has been difficult for politicians to consider such measures. Instead, it would appear that most constituents want government to mandate both more fuel efficient cars (through mechanisms like CAFE) and cheap gas without impacting the cost of automobiles themselves.

Winters paraphrases The End of Oil author Paul Roberts, noting that "every major fuel shift in history - from wood to coal to oil - was driven primarily by market forces, specifically by competitive advantages of the new fuel over the old." Thus, part of the solution may simply to make the fossil fuels more expensive relative to other energy sources.

Unfortunately, Winters surmises, it appears that nobody can handle this truth.

[Source: Ward's Auto World | Photo: GoodGreentips.com]

Ward's columnist wonders if Americans can handle the truth about gas taxes originally appeared on Autoblog on Sat, 27 Dec 2008 18:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cafecafe standardsCafeStandardsfuel pricefuel taxFuelPriceFuelTaxgas mileagegas pricegas pricesgas taxGasMileagegasoline taxGasolineTaxGasPriceGasPricesGasTaxtaxtaxationSat, 27 Dec 2008 18:57:00 EST<![CDATA[Oil may hit $35/barrel in wake of auto bailout bust]]>http://www.autoblog.com/2008/12/12/oil-may-hit-35-barrel-in-wake-of-auto-bailout-bust/http://www.autoblog.com/2008/12/12/oil-may-hit-35-barrel-in-wake-of-auto-bailout-bust/http://www.autoblog.com/2008/12/12/oil-may-hit-35-barrel-in-wake-of-auto-bailout-bust/#commentsFiled under: , ,

With the U.S. Senate denying the Detroit 3 relief plan, it looks like oil prices might continue to tumble. Our sibling site BloggingStocks is predicting barrel prices might drop as low as $35 as a result. This comes on the heels of predictions of higher prices in the near future.

It had been thought that OPEC and possibly Russia would be curtailing production, which might have led to higher prices, but if the U.S. auto industry collapses, demand for oil could plummet. That would result in even lower oil and gas prices.

In fact, oil prices started dropping Thursday night as soon as traders heard that Senate Republicans had blocked the bill, with barrel prices checking in at $44.76 as of Friday morning. We just saw regular unleaded for $1.59/gal at a station down the street this morning and thought we had woken up in 2000. Can sub-$1 gas be far away?

[Source: BloggingStocks]

Oil may hit $35/barrel in wake of auto bailout bust originally appeared on Autoblog on Fri, 12 Dec 2008 18:58:00 EST. Please see our terms for use of feeds.

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President-Elect Barack Obama thinks we have an oil addiction and he wants to do something about it. That something is developing a plan for energy independence. While that might have seemed easier to discuss when oil was at $147 a barrel, Obama thinks it's even more important to talk about now, with oil hovering around $60. "It may be a little harder politically, but it's more important," Obama told 60 Minutes in his first post-election interview. Obama explained that our addiction to oil causes a mental transition from "shock to trance." As oil and gas prices go up, it creates "a flurry of activity." When the prices go back down, however, people seemingly forget, and "we act like it's not important. And, as a consequence, we never make any progress." He considers it an addiction and knows it needs to be broken. Our next top executive thinks now is the time to break it.

Along with energy independence, Obama also addressed the auto industry bailout, and GM's situation in particular. Acknowledging that a complete collapse would be "a disaster in this kind of environment," but he's not in favor of handing the industry a blank check. He feels that discussions with the Detroit Three should be focused on figuring out what a sustainable U.S. auto industry will look like so that the bridge loans the government is offering lead to a definable goal rather than being open-ended. Unlike some critics, Obama doesn't think the country would be better off if General Motors was allowed to go into bankruptcy. Unlike the situation with the airlines where they could restructure and reorganize and still operate during that process, GM could be cut off completely if it isn't helped out, potentially preventing it from continuing on.

You can read the transcript of the complete interview and watch the video here.

[Source: CBS News]

Obama talks oil addiction in first post-election TV interview originally appeared on Autoblog on Mon, 17 Nov 2008 18:58:00 EST. Please see our terms for use of feeds.

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Pickup and SUV sales plummeted when gas hit $4 per gallon, and many thought these gas-guzzling segments would never fully recover. That may be true, but for now Americans are once again getting more comfortable with trucks and SUVs. Truck sales fell below 10% of overall vehicle sales back in May and June, but the price of gas falling from an average of $4.11 per gallon to $2.78 has helped the share of trucks rise to 14.1% of the overall market for September. Depending on how buyers react to the financial crisis, October could be even better as gas prices have continued to go down. SUVs have seen a smaller but still significant jump in overall share, going from 1.9% in May to 2.5% in September - a big improvement for a shrinking segment.

Much of the increased interest in trucks and SUVs can easily be attributed to huge incentives on the hoods of these hefty haulers, but gas prices are a big factor, as well. And while most analysts feel the truck market won't recover until construction picks back up, we're sure automakers are happy to see an increase in sales for their most profitable vehicles, even if it takes a pile of cash on the hood to get them moving.

[Source: Automotive News - sub. req'd, Photo by Bill Pugliano/Getty ]

How quickly we forget: Cheaper gas = higher pickup and SUV sales originally appeared on Autoblog on Tue, 28 Oct 2008 08:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>gas pricesGasPricesmarket shareMarketSharepickup trucksPickupTruckssuvsTue, 28 Oct 2008 08:58:00 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.

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Simply put, the U.S. economy is in the crapper. Stocks are yoyoing and our mortgages are a fraction of what they were even a year ago. For all that's fiscally wrong here in the States, there is one pleasant side effect: the price of a barrel of oil is dropping faster than Kimbo Slice against a two bit hack. Oil dropped 6% in trading on Monday, bringing down the price of a barrel of crude to $87.81. Black Gold has been on a downward trajectory since July 11, when it peaked at $147 per barrel. Since then, demand has weakened both in the U.S. and China, with demand slacking so badly that the Communist government hasn't purchased any oil in two months, and it's even selling some of its stockpiles.

While demand for oil is down to where it was eight months ago, OPEC is watching with a wary eye. The oil consortium, which on several occasions has increased oil production over the past year, is likely to slash production when it meets again in December. In the short term, industry experts are predicting that gas prices will drop below the $3 mark by November 1, which will make for one piece of good news in an otherwise lousy news cycle.

[Source: Reuters]

Oil back below $88 on Monday originally appeared on Autoblog on Tue, 07 Oct 2008 07:58:00 EST. Please see our terms for use of feeds.

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Safer vehicles and increased law enforcement has resulted in the lowest driving fatality rate ever last year. There were 41,059 traffic deaths in 2007, down 1,600 from 2006. Fatalities are now at 1.37 per 100 million miles traveled, which is the lowest number since the National Highway Traffic Safety Administration started keeping track. The proliferation of safety technology, like side curtain air bags, stability control, and traction control, are apparently helping to make our roads safer, and good old-fashioned seat belts are being used more than ever. The "Click it or Ticket" campaign isn't the only way law enforcement has helped to lower fatalities either, as increased drunken driving patrols have lead to a 3.7% decline in deaths. Still, 13,000 people died last year as a result of drunken driving, which is 13,000 too many.

News on the safety front isn't as good for motorcycle drivers, though. A record 5,154 bikers lost their lives on U.S. roads in 2007, which is over 200 more than in 2006. Part of the reason for that increase is that there are more motorcycle drivers on the road, with 6 million motorcycles registered last year, up 2.2 million in the past decade.

[Source: Kicking Tires via CNN]

Traffic deaths down, U.S. roads reach record level of safety originally appeared on Autoblog on Mon, 18 Aug 2008 19:28:00 EST. Please see our terms for use of feeds.

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In the book of Genesis, man was given dominion over all the plants and animals, so we're guessing that dead, liquified ones count, too. Since Rocky Twyman started his Pray At The Pump effort in April, average fuel prices have certainly fallen. Twyman believes that his groups' prayers have effected the change, and that no other factors like shifting consumer behavior, international conflict, or speculators has anything to do with it. Right.

The Pray At The Pump group is not just asking for divine fuel price intervention without also encouraging acts of sacrifice on behalf of man - Twyman's ministry strongly encourages car pooling and better organized trips to maximize conservation on a day to day basis. After all, committing the mortal sin of gluttony while asking for the Lord to make it easier on us all would ring kind of hollow. We suppose even the non-faithful can get behind Twyman's effort in that it's at least as effective as the various fuel-saving trinkum that internet scheisters are imploring us to buy (run your car on water? hydrogen "batteries"?), and it costs nothing, to boot. Combined with a regimen of proven fuel-saving behaviors, extra prayers certainly can't hurt in keeping the flow of car-sustaining manna trickling along at an affordable price.

[Source: BBC, AutoblogGreen, Photo: daylife.com]

Man claims prayer brought pump prices down originally appeared on Autoblog on Mon, 18 Aug 2008 18:58:00 EST. Please see our terms for use of feeds.

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Of course your wallet hurts every time you have to fill the car up. Nevertheless, in these trying times we must always remember the words of Fernando Lamas: it is better to look good than to feel good. Cars That Matter has put together a list of classic automobiles that get anywhere from 21 to 48 mpg, which means you can look good while you save money.

The heaviest drinker is the Datsun 240Z, just cracking into the twenties. But plenty of cars hover around the 30 mpg mark, like the Lotus Europa, Alfa Romeo Giulietta Spider, and Fiat X1/9. If you want to crack the big four-oh, you've still got choices: BMW Isetta and Honda S800. And the Crosley Hotshot will get you a miserly 48 mpg.

All right, so there are some niggling issues of practicality -- almost all the cars have only two chairs -- unsuitability for winter, plus many of them are mechanical horrors. As such, we must always remember the words of dear old dad: there are no free lunches. But there are choices, and that has to count for something...

[Source: Cars That Matter, Photo by Liftarn | Creative Commons 2.0]

Prius schmius -- try an Austin-Healey Sprite and 36 mpg originally appeared on Autoblog on Sun, 10 Aug 2008 18:04:00 EST. Please see our terms for use of feeds.

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Click above for high-res gallery of the Dodge Hornet concept

Besides the introduction of the Dodge Challenger, there has been very little good news coming out of Chrysler lately. Sales are down 22% for the year due to a lineup that's still heavy on trucks and SUVs, but there may be some help on the way as soon as 2009. Chrysler CEO Bob Nardelli has hinted that a fuel efficient new vehicle(s) could debut next year, and platform sharing with other automakers would be behind the quick turn-around. Nardelli says the Auburn Hills-based automaker has re-prioritized its capital in an effort to quickly get to market the fuel-efficient vehicles that the market demands. Debuting even a single vehicle that's more fuel-efficient than anything else in the Chrysler lineup would likely have a big effect in light of the fact that its brands offer some of the least fuel-efficient lineups in the industry.

Nardelli didn't give any details as to which vehicle could arrive ahead of schedule, but speculation is that the Dodge Hornet is on the short list. The handsome Hornet (if it looks like the concept) will be based on the Nissan Versa small car platform, and was originally slated to arrive in Dodge guise in 2010. Chrysler is also rumored to be working on alliances with Tata, Fiat, and Chery, and each automaker has plenty of small, efficient vehicles at its disposal. None of those automakers has a presence in the U.S., though, so a quick turnaround on a platform that hasn't been properly crash tested doesn't seem likely.

Gallery: Dodge Hornet Concept


[Source: Detroit News]

Nardelli: New fuel efficient model might be out next year originally appeared on Autoblog on Fri, 01 Aug 2008 11:58:00 EST. Please see our terms for use of feeds.

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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.

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