If you haven't noticed, it has been a little cheaper to fill up at the gas station for the last few weeks. According to the US Energy Information Administration, the current national average cost for a gallon of gasoline is $3.299. That's down about a nickel from the previous week and around seven cents lower than this time last year. It doesn't look like this is just a temporary blip either because there's a strong possibility that Saudi Arabia may compel OPEC for lower oil prices for the near
With all the money they generate, you'd be forgiven if you thought the roads to America's oil wells and shale fields would be paved in platinum and lined in gold. The reality is, though, that these roads are so devastated that they're starting to actively hurt the oil industry.
Okay, okay, okay – it's not as bad as that headline says it is. First of all, even if we did only have 53.3 years of oil left, it'd represent a 1.1-percent improvement over last year's estimate, to 1.69 trillion barrels of oil left. But more importantly, we probably have a hell of a lot more oil left than that. Of course, a lot of it comes from shale, which means fracking, which isn't exactly great for the environment. So, it's not all roses here.
It's hard not to love the look of a classic Porsche. Whether it's the upside-down bathtub styling of the 356 or the gradual evolution of the 911, there is a little beauty in all of them. However, the older they get, the more that needs repaired to keep them on the road. Porsche Classic is helping out, though, by introducing its own brand of motor oil for the demands of the company's vintage, air-cooled engines.
A massive early morning oil spill in Los Angeles has spewed some 10,000 gallons of black gold onto the city's streets. It happened in Northern LA's West Glendale, when a 20-inch pipeline burst and spattered oil on everything within in a half-mile radius.
Just because gas prices have been steadily declining since March doesn't mean we should all get comfortable with the idea of lower refueling costs and a dependable fuel supply. In fact, a University of Maryland study titled "Economic Vulnerability to Peak Oil" pushes the panic button a bit.
Norway is Europe's undisputed electric vehicle leader. It is also Europe's largest oil producer. The way these two facts intertwine is what The Globe And Mail calls "ironisk," the Norwegian word for, well, you can probably guess.
An ever-increasing number of fuel efficient vehicles combined with changes in driving habits have contributed to reduced petroleum consumption in recent years in both North America and Europe. Despite this, global petroleum consumption is on the rise, according to the US Energy Information Administration. Global consumption of gasoline, diesel, jet fuel, heating oil and other petroleum products reached a record high 88.9 million barrels per day (bbl/d) in 2012. Growth in Asia and other regions m
While the history of electric vehicles has been getting a lot of play lately, biofuels have quite a story to tell as well. Hemmings Daily just featured a brief history overview that's full of surprises – one is that biofuels date back more than 300 years, well before any real internal combustion engines.
In May of 2011, we ran a story about a small company seeking backers for an innovative do-it-yourself device engineered to measure the level of contaminants in a vehicle's motor oil. Armed with the knowledge, consumers could extend oil change intervals, save money and help the environment. Things apparently went well for the startup, as its Lubricheck hit the market this year and it wasn't long before a sample landed in our hands.
We're being duped by Big Oil. The worse part is that governments around the world are working tirelessly to make sure the game is rigged in their favor. That's what Lester Brown, president of the Earth Policy Institute, is saying, and he has the numbers to back the statement up.
Saudi Arabia is the world's top producer of oil, extracting approximately 11.6 million barrels every day. The oil takes care of approximately two-thirds of the kingdom's own energy needs and is the lynchpin of the country's lucrative exports.