It's just one in a laundry list of factors, but more fuel-efficient cars could make a difference in lowering oil prices dramatically to half their present levels, plunging to $50 a barrel by the end of the year. That's what Gulf Oil CEO Joe Petrowski is predicting in a new interview on CNBC's Squawk Box, though he is quick to point out that a halving of oil prices doesn't necessarily translate to a halving of fuel prices. And, as CNN reports, lower oil prices could mean protests in oil-producing
There have been some iconic racing liveries over the course of motorsport history. Martini, Marlboro, JPS... we could go on, but none carry the enthusiasm of the classic Gulf color combo. Maybe it's because of Steve McQueen's cult classic Le Mans. Maybe it's the irony of the pastel colors on brutal racing machines. Whatever it is, it's an all-time favorite. But would you want your daily driver painted in the baby-blue and orange scheme, complete with sponsor logos?
You'd have to be living in a deep, dark hole somewhere in the middle of nowhere to not have heard anything about the massive oil spill in the Gulf Of Mexico. And you better not come out of your cave just yet, since not a day pass that we don't hear about this continuing disaster. We should be hearing about this, because it's a tragic event and British Petroleum (BP) deserves to take heat for its actions (or lack thereof) that led to the explosion and ensuing catastrophic spill. Even though BP ha
The oil spill in the Gulf of Mexico is going from bad to worse. It seems only a week ago that we were told the mess wasn't all that bad, but now that oil is leaking out at a rate about five time faster than expected – up to 5,000 barrels of oil a day from three different leaks about a mile underwater – a lot of government officials like Louisiana Gov. Bobby Jindal and President Barack Obama are pushing for big help, fast. Jindal declared a state of emergency and the feds have sent a
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