oil


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 →

Autoline on Autoblog with John McElroy John McElroy

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 ...

Russia expected to be third largest global market by 2012 Jonathon Ramsey

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 ...

Interactive map reveals our global oil useage by barrel, money Jonathon Ramsey

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 NYT chimes in: time for a gas tax Jonathon Ramsey

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 ...

Gas too cheap: OPEC approves largest output cut ever 11 months ago on Autoblog

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 ...

Gas prices pleasant as economy tanks 1 year ago on Autoblog

The 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 ...

Could U.S. become net exporter of gasoline? 1 year ago on Autoblog

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 ...

Is it over yet? Oil prices drop like a rock 1 year ago on Autoblog

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 ...

Scientists create bacteria that eat junk, produce oil 1 year ago on Autoblog

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 ...

G8 nations ask for more oil, pledge to use less 1 year ago on Autoblog

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 ...

Oil independence possible according to DoE scientist 1 year ago on Autoblog

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 ...

100 years ago today, Middle East oil discovered 1 year ago on Autoblog

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 ...

Will peak oil trigger Mad Max society? 1 year ago on Autoblog

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 ...

National average price of gas beats record levels after Hurrican Katrina 2 years ago on Autoblog

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 ...

Gas station owner jacks up prices to prove a point 2 years ago on Autoblog

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 ...

Ford officially extends oil change interval to 7,500 miles 2 years ago on Autoblog

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 ...

ExxonMobil earns record $39.5 billion in 2006 2 years ago on Autoblog

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 ...

Shellfish! Ferrari and Shell close down major cities to film commercial 2 years ago on Autoblog

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 ...

Oil sludging atonement: Toyota settles class-action suit 2 years ago on Autoblog

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 ...

How gas prices work 3 years ago on Autoblog

We're certain that we're not the only ones that shake our heads in disgust when we roll by a gas station (and bow our heads in shame when we actually have to fill up). With the price of gas starting to come down, we certainly all are a little puzzled about what influences fuel prices. ...

EEStor ceramic electric motor 3 years ago on Autoblog

Alternative-fuel engines of different sorts all suffer from one major drawback or another: poor range, hard-to-find filling stations, high cost, poor performance. EEStore is out to change all that with a revolutionary new kind of "battery". We put "battery" in quotation marks because the unit ...

BP may have Prudhoe Bay pumping by late September 3 years ago on Autoblog

The largest oil field in the U.S. in Prudhoe Bay, Alaska hasn't shipped a drop of oil since earlier this month when BP discovered severe corrosion inside some pipelines servicing the facility. Overnight eight percent of the country's daily supply of oil disappeared, about 400,000 barrels per day. ...

Determining oil change intervals via analysis 3 years ago on Autoblog

John's post on Valvoline's oil change interval survey results got the attention of our readers, so perhaps now it's time for a slightly different perspective on the topic. If one accepts the fact that each combination of driver and engine is likely to require its own oil change interval, then the ...

HSV Maloo R8 Ute breaks production pickup truck speed record 3 years ago on Autoblog

If your slow-ass pickup truck is making you late for work, perhaps Holden's HSV tuner division can offer a solution in the form of the Maloo R8 Ute. With 400 HP courtesy of a General Motors GenIV LS2 small-block V8, the almost-a-truck ran a two-way average of 168.66 MPH on a ...

Oil tops $75/bbl to conclude week of record prices 3 years ago on Autoblog

The usual suspects were all present this week - fear and uncertainty over the possibility of military action in Iran, civil unrest in Nigeria, and the seemingly inelastic and insatiable demand for energy 'round the world - and oil ended up setting record highs nearly every day this week. Friday's ...

Oil companies and USGS to look for oil under receding polar caps 3 years ago on Autoblog

As the Arctic ice caps shrink due to the warming of the planet, it's expected that vast reserves of additional oil and gas will become available, as approximately 25 percent of the planet's petroleum is thought to lie under the polar ice caps. In an effort to map these hydrocarbon ...

Is your next tank of gas from...seat foam? 3 years ago on Autoblog

As previously posted, the automobile is the number one recycled product in the U.S. Most of the recycled materials are re-used for different purposes, like floormats being turned into sound-deadening materials. But how about fuel? In a new study, Changing World Technologies, Inc. used a process ...

Gas prices climb due to MTBE phase-out and expense of oil 3 years ago on Autoblog

It may come as a bit of a surprise, but some of us here at Autoblog just don't fill up all that often. Imagine, then, our surprise when the gas pump spit out a receipt for a bit more than $82 after our last fill-up of the Autoblog Garage's parts-running truck. If this keeps up, we'll be ...






Autoblog Podcast #153: With Phil Berg

Phil Berg puts his reputation on the line and hangs with the podcast crew.

 
 

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