Recent Gas News/GasBuddy Blog

msnbc.com -- Just three years after the automaker drove into government-run bankruptcy, requiring a massive taxpayer-funded bailout to keep it in business, General Motors is setting its sights on making over $10 billion a year, according to a report in The Wall Street Journal.

The newspaper reports that GM is already on track to achieve that goal, citing company sources that the Journal said have seen the company’s 2011 fourth-quarter results, which are due to be reported next week. GM is set to report net income of about $8 billion, its highest ever, and nearly twice the
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Msnbc.com -- ExxonMobil Corp. posted fourth-quarter net income Tuesday of $9.4 billion, up 2 percent from the same quarter a year ago and slightly above market expectations, helped by rising crude oil prices.

It's also more money than The Bahamas' annual GDP, according to the CIA Factbook.

The net income (excluding special items) equates to $1.97 a share, up from $1.85 per share in the comparable quarter. Revenue for the largest U.S. oil company rose 16 percent to $121.61 billion. Analysts expected earnings of $1.96 per share, according to Thomson Reuters I/B/E/S.

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GasBuddy Blog -- California has the most expensive red-light camera tickets in the world; and the tickets are so steep, according to Kevin Fagan, reporter for the San Francisco Chronicle, that one camera in Oakland generates more than $3 million annually.

According to Fagan and the traffic-watch site TheNewspaper.com, anyone in California photographed violating a red light pays a fine of $480 and no other jurisdiction in the U.S. has a tab that high. The second-highest fine in the U.S. is $250, Fagan says.

California's Dept. of Finance estimates that red-light cameras bring in more than $80 million annually to the state and $50 million to cities and counties. Not all $480 from each ticket goes to the cities or counties that authorize...  (go to article)

autoblog -- Chinese automakers imitating Ford F-150  (go to article)

Anchorage Daily News online -- YINKA IBUKUN
The Associated Press

Published: February 6th, 2012 01:52 AM
Last Modified: February 6th, 2012 02:31 AM

LAGOS, Nigeria (AP) - The burning inferno of what used to be a Chevron Corp. natural gas rig still stains the night's sky orange more than two weeks after the rig caught fire, and no one can say when it will end as swarms of dead fish surface.

The environmental damage is hitting a region whose poor still rely on the delta's muddy waters for survival. A nearby clinic remains overrun with patients who are showing up with skin irritations and gastrointestinal problems.

"The community here has no other source of water apart from the river water, which on its own isn't even safe enough to drink, but the pollution has made the water even worse," said Dr. Oladipo Folorunso, the  (go to article)

Anchorage Daily News online -- CHUKCHI SEA: Regulatory hurdles have to be cleared; machinery is being upgraded.

By DAN JOLING
Associated Press

Published: February 5th, 2012 10:48 PM
Last Modified: February 5th, 2012 10:49 PM

It's the billion-dollar question in Alaska for 2012: Will this be the year Shell Oil begins large-scale offshore exploratory drilling in Arctic waters?

Two months into 2012, the oil giant is beyond the lead time it said it needed to assemble the flotilla of support vessels that must accompany drill ships to leases in the remote Chukchi and Beaufort seas. But Shell Alaska Vice President Pete Slaiby remains hopeful drilling can begin when Arctic Ocean ice melts this summer, even as he awaits a green light from regulators.

"There is clearly more certainty with the regulatory process than we've had  (go to article)

KMSP -- Gasbuddy.com predicts gas prices will hit $3.55 per gallon by the end of February and $4 by Memorial Day weekend.  (go to article)

GasBuddy Blog -- Illinois Governor Pat Quinn signed this morning SB965, giving the City of Chicago new authority to use its extensive network of red light running cameras as speed cameras. The law becomes active on July 1, so motorists should be prepared.

This new law, authorities say, has always been for the protection of children and not about revenue. However, the same authorities argue that red light cameras also are only for safety, even while many studies have shown this is not the case. Such studies as a 2008 University of Florida study, or a 2007 Virginia Department of Transportation study that showed "the cameras were associated with an increase in total crashes... The aggregate EB results suggested that this increase was 29%... The cameras...  (go to article)

Gant Daily -- Lawmakers in Pennsylvania have reached an agreement on a bill charging companies an “impact fee” for drilling natural gas in the Marcellus Shale, legislation that is expected to be part of Gov. Tom Corbett’s budget address on Tuesday.

Compromise legislation reconciling differences between House Bill 1950 and Senate Bill 1100 is said to have been drafted over the weekend by top legislative aides.

Corbett, a Republican at the end of his first year in office, and the GOP-controlled legislature have not released details on the tentative measure. The Post-Gazette reports that the impact fee would be between $190,000 and $355,000 per drilling well depending on the price of natural gas.

Debate on the legislation centers on whether to tax energy producers for operations in the Marcellus Shal  (go to article)

CNET -- If solar startups Alta Devices and Semprius were in the server business, one would be developing a deluxe high-powered server while the other would be stringing thousands of Linux boxes together. Both approaches, though, are showing promise at bringing the cost of solar power down.

Alta Devices today said it set the record for the most efficient solar cell, able to convert 23.5 percent of sunlight into electricity. The University of California at Berkeley spin-out said the efficiency mark, verified by the National Renewable Energy Laboratory, is a step toward commercializing its novel solar technology.

The company is making solar cells from gallium arsenide, a very efficient material typically used on high-end concentrating photovoltaic collectors or solar panels in space.  (go to article)

Wired Magazine -- The object, vaguely pink, sits on the shoulder of the freeway, slowly shimmering into view. Is it roadkill? A weird kind of sagebrush? No, wait, it’s … a puffy chunk of foam insulation! “The laser almost certainly got returns off of it,” says Chris Urmson, sitting behind the wheel of the Prius he is not driving. A note is made (FOD: foreign object or debris, lane 1) as we drive past, to help our computerized car understand the curious flotsam it has just seen.

It’s a Monday, midday, and we are heading north on California Highway 85 in a Google autonomous vehicle. In October 2010, when The New York Times reported that Google had built a fleet of self-driving cars that had already collectively traversed some 140,000 miles of California asphalt, it came as a shock, a terrestrial Sputnik.  (go to article)

Bloomberg -- European gasoline rose to the highest in more than four months as Mercuria Energy Trading SA bought on the barge market. The motor fuel’s premium to Brent crude, or crack, declined.
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San Francisco Cronicle -- California has the most expensive red-light camera tickets in the world - the fine is so steep that one camera in Oakland generates more than $3 million a year  (go to article)

The Telegraph -- Oil prices could fall to $70 a barrel during 2012, from current levels above $110, as high volatility in the economy and energy markets becomes "a fact of life", Royal Dutch Shell executives said.

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CNNMoney -- Once again, Chrysler's Super Bowl ad won the hearts and minds of football fans, this time with a little help from Clint Eastwood and, of course, Detroit.

"This country can't be knocked out in one punch," Eastwood, said. "We get right back up again, and when we do, the world will hear the roar of our engines. It's half time, America."

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The Christian Science Monitor -- Oil prices, which fell below $97 a barrel on Monday, are not poised to surge in the long run because long-term production is declining. Better technology and, if needed, higher oil prices mean the long predicted peak in oil production is a long way off. Most commodity prices are collapsing. Copper is down 18 percent from its February 2011 peak. Corn prices are off by a quarter since last summer. Natural-gas prices are half the level of six months ago. Yet crude oil, down from its April peak of $114 per barrel, has risen by a third from its October low of $76 to again flirt with the $100 mark.

On Monday, they dropped below $97 on concerns about the lack of a deal on Greek debt.

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The Financial Post -- Between the fallout from the Fukushima disaster and the glut of natural gas hitting markets, the future of the nuclear industry in North America is in limbo.

Boosters used to talk of a resurgence in the market for nuclear energy as concerns about reliance on fossil fuels and the harmful effects of greenhouse gases mounted, but recent events have put a decided damper on that enthusiasm.

“Just looking at the economics, the renaissance is definitely on hold,” says Bryne Purchase, former Ontario deputy minister of energy and adjunct professor at the School of Policy Studies at Queen’s University in Kingston, Ont.  (go to article)

ESSEN, Germany -(Dow Jones) -- The European Union is working on plans to ensure security of energy supply--including opening member states' strategic oil reserves--if deliveries from Iran were to suddenly cease amid an ongoing dispute over the country's nuclear weapons program, said the EU's energy chief Guenther Oettinger at an industry conference here Monday.

We are working on plans that would help us ensure security of supply, if Iran were to stop delivering oil before the EU embargo against the country kicks in July," said Oettinger.

Asked if these plans also include tapping emergency stocks, Oettinger said that such a move couldn't be ruled out.

However, he also said that the EU believes that any supply disruptions could also be mitigated by channeling oil through the EU's existing pipeline network  (go to article)

Central Florida Future -- Last Wednesday, Josh Fox, the director of the documentary Gasland, was arrested during a House meeting with the EPA on the issue of contaminated drinking water due to a natural gas extraction process known as hydraulic fracturing."

Fox said in a statement, "I was not expecting to be arrested for practicing journalism. Today's hearing in the House Energy and Environment subcommittee was called to examine EPA's findings that hydraulic fracturing fluids contaminated groundwater in the town of Pavillion, Wyoming."

The residents of Pavillion have maintained since 2008 that fracking has contaminated their water supply.

Fracking is a toxic extraction process set up in the name of progress that is hurting the health of many Americans.  (go to article)

Business Week -- Ford Motor Co.’s global marketing chief says the automaker is focused on high “real world” fuel efficiency in its vehicles after a California woman won a case against Honda Motor Co. for failing to meet mileage claims.

Heather Peters, owner of a 2006 Civic Hybrid, won $9,867 in small claims court in Los Angeles last week, alleging Tokyo- based Honda overstated the model’s fuel economy. Honda has said it will appeal the ruling, and that the car’s efficiency rating was determined by the U.S. Environmental Protection Agency.

“As fuel economy becomes more important, all the manufacturers are looking to be more dramatic in their advertising claims,” Jim Farley, told reporters today in Las Vegas at the National Automobile Dealers Association convention.  (go to article)

Bloomberg -- Oil fell from the highest price in three days in New York on speculation Greece’s steps to avert a financial collapse may fall short, threatening Europe’s economy and demand for fuel.

Futures dropped as much as 0.9 percent before political leaders in Greece meet today to discuss a detailed agreement for meeting the terms of an international financial rescue. The premium of London-traded Brent oil to New York contracts rose for an eighth day after militants in Nigeria, Africa’s biggest crude producer, attacked and damaged a pipeline.

“The potential now is for disappointment out of Europe,” said Michael McCarthy, a chief market strategist at CMC Markets Asia Pacific Pty in Sydney. “I suspect this one is going to drag on a fair bit. This echoes the very disappointing rhetoric we’ve he  (go to article)

Reuters -- Oil slipped under $114 a barrel on Monday as traders and investors worried that a failure to agree a deal with Greece for a second bailout would suppress demand in the euro zone, but renewed tensions with Iran kept a floor under prices.

“There’s still not much confidence over the euro zone economies, and that is limiting upside from strong U.S. data and the tensions in Iran,” said Ken Hasegawa, a commodity derivatives manager with Newedge Brokerage in Tokyo.

Front-month Brent crude[LCOCV1 114.06 -0.52 (-0.45%)], was down 43 cents to $114.15 a barrel this morning, ending four straight days of gains.

Brent rose 2.8 percent last week to settle near a three-month peak on Friday, after a positive U.S. jobs report fueled hopes of stronger demand in the world's biggest economy.
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Commodityonline.com -- Crude Oil prices could soar to $160 if tensions in Iran blow out of proportion, an executive at the Kuwait Petroleum Corporation (KPC) said. KPC is the state-owned entity responsible for Kuwait's hydrocarbon interests throughout the world.
In an interview with the local Al-Seyassah newspaper, the board member of the KPC, Ali al-Hajeri said that "If the embargo on Iranian oil persists, or in case of a military move over the closure of the Strait of Hormuz, oil prices are expected to soar to around $150 to $160”. He also went on to add that such a price will not be sustainable and will drop as the reasons for the price rise disappear.

Hajeri believes that $100-$105 level is a fair and acceptable
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Commodityonline.com -- Iran has once again issued a strong statement justifying its right to develop nuclear technology while also asking the European Union (EU) to rethink its decision to ban oil imports from Iran starting July 01, 2012.
"We will not abandon our just nuclear course, even if we cannot sell one drop of oil”.Iran's oil minister Rostam Qasemi was quoted by the IRNA news agency.
The oil minister also asked the EU to reconsider its decision to ban oil imports from Iran. "Unfortunately the EU has succumbed to America's pressure. I hope they would review their decision on sanctioning Iran's oil exports. The international crude market will experience turmoil in the absence of Iranian oil with unforeseen consequences on oil prices”, he said.
The oil minister added that the loss of EU market will  (go to article)

LONDON -(Dow Jones) -- Crude futures were lower Monday, falling with the euro and equities as investors sought to lock in profits following steep gains Friday.

There is a general spout of long liquidation across commodities," said Glen Ward, head of retail derivatives at London Capital Group, adding that gold and silver were also weaker.

At 0917 GMT, the front-month March Brent contract on London's ICE futures exchange was 73 cents, or 0.6%, lower at $113.85 a barrel.

The front-month March contract on the New York Mercantile Exchange was trading down $1.18, or 1.2%, at $96.66 a barrel.

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Huffington -- NEW YORK -- Instead of complaining about clean air rules, maybe utilities should cheer them.

Sometimes, the rules lead to big gains.

First Energy, a utility based in Ohio, got such a boost Thursday, a week after the company announced it would close six coal-fired plants, blaming new federal rules aimed at slowing emissions of mercury and other toxins.

Without these plants, electricity prices in parts of Ohio dominated by First Energy are expected to nearly double at a power auction scheduled for May.

The reason: There will now be a smaller fleet of power plants available to meet potential power needs. This smaller supply means the price to coax companies like First Energy to make their plants available will rise.
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SNL -- Amid falling natural gas prices, power prices have become less sensitive to load. And as mild weather tempered demand, January average power prices in regions that rely more heavily on gas fired generation saw the largest year-on-year declines. But the soft power market isn't bad news for all generators.

At 11.3 million MW, ISO New England saw a 4.7% year-on-year decline in electric demand in January 2012. During the same period, NYISO demand declined 3.1% to 13.7 million MW. Reduced load and lower natural gas prices made both on-peak and off-peak power prices much lower and much less volatile in the Northeast year-on-year, according to the SNL Energy Commodities Market Month.
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The Huffington Post -- Opponents of the Keystone XL pipeline are taking a well-deserved victory lap. The Obama administration's decision to reject TransCanada's pipeline proposal -- at least for now -- represents an historic win for the environmental movement, and reveals the potency of the emerging alignment between the environmental, anti-corporate, Occupy and other movements.  (go to article)

http://www.huffingtonpost.com/brendan-smith/green-jobs_b_1249491.html -- Opponents of the Keystone XL pipeline are taking a well-deserved victory lap. The Obama administration's decision to reject TransCanada's pipeline proposal -- at least for now -- represents an historic win for the environmental movement, and reveals the potency of the emerging alignment between the environmental, anti-corporate, Occupy and other movements.  (go to article)

MLIVE -- SAGINAW TWP. — On her lunch break more than two years ago, Kristi L. Fritz saw “one of the worst” and dramatic crashes she’s witnessed in her life.

A blue Chevy GMT400 pickup plowed into the passenger side of a much smaller Pontiac Sunfire driven by a 16-year-old Saginaw Township girl.

The teen, police say, was text-messaging when her car pulled into oncoming traffic less than a mile from her home.  (go to article)

USA TODAY -- After rising 19 cents a gallon in the past four weeks, regular unleaded gasoline now averages $3.48 a gallon, vs. $3.12 a year ago and $2.67 in February 2010.

Tom Kloza of the Oil Price Information Service expects average prices to peak at $4.05, although he and other industry trackers say prices could be sharply higher in some markets.  (go to article)

Motor Trend -- Update: Apparently, the folks over at Ford have taken issue with the Chevy Silverado Super Bowl ad that takes a swipe at Ford as a truck that wouldn’t be able to survive an apocalypse. GM has run out a press release in response, quoting GM marketing chief Joel Ewanick. The quote is below:

“We stand by our claims in the commercial, that the Silverado is the most dependable, longest-lasting full-size pickup on the road. The ad is a fun way of putting this claim in the context of the apocalypse,” said General Motors Global Chief Marketing Officer Joel Ewanick. “We can wait until the world ends, and if we need to, we will apologize. In the meantime, people who are really worried about the Mayan calendar coming true should buy a Silverado right away.

(with videos)  (go to article)

The Globe & Mail -- General Motors Canada and Bullfrog Power Inc. are teaming up to sell a renewable-energy branded edition of the Chevrolet Volt electric powered car.

The new version of the Volt, which has been on sale in Canada since September, will require buyers to pay $198 to get Bullfrog to inject enough electricity from renewable sources into the grid to power the vehicle for two years.  (go to article)

FT.com -- Iran has indicated that its threat to cut oil supplies to European states in order to pre-empt a European Union oil embargo that comes into effect in July may be only a symbolic one.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/a4e559a0-5007-11e1-a3ac-00144feabdc0.html#ixzz1lZi0Jj1V

Rostam Ghasemi, Iran’s oil minister, on Saturday said that any cut-off in Iranian oil supplies would target “hostile states” and should not harm European people in winter. “We will certainly cut [oil exports] to some European states,” Mr Ghasemi said, but gave no indication on timi  (go to article)

nationaljournal.com -- As unemployment continues to tick downward, Republicans are searching for messages other than joblessness with which to bludgeon President Obama. On Sunday, GOP presidential candidate Newt Gingrich hinted at such a new line of attack: Gas prices.

In appearances on both NBC’s Meet the Press and CBS’s Face the Nation, Gingrich cited pain at the pump to make the case against Obama – even if the unemployment rate, which dipped to 8.3 percent in January, continues to drop.

Asked how he would campaign against the incumbent in an improving economy, Gingrich replied: “If it is combined with the highest-priced gasoline in American history because of his anti-American energy policies, he's still going to have a challenge.” He went on to attack an upcoming Environmental Protection Agency rule  (go to article)

Huffington Post -- A final framework is at hand on sweeping legislation to impose an impact fee and update safety regulations on Pennsylvania's booming natural gas industry, top Republican state lawmakers say.

Republicans notified rank-and-file lawmakers Saturday night that they hope to hold votes this week on a framework reached by negotiators from the House, Senate and Gov. Tom Corbett's office during closed-door negotiations over the past six weeks. Pennsylvania is the only major gas-producing state that doesn't tax natural gas production.

"These discussions have progressed rapidly over the course of the last two weeks," House Speaker Sam Smith and House Majority Leader Mike Turzai said in a letter to lawmakers. "In fact, staff have been working throughout the weekend and will be working tomorrow in ord  (go to article)

The Herald Scotland -- A new kind of biofuel, produced from the by-products of whisky and beer, could create a £55 million ($86.9 USD) market in Scotland alone, its creators have claimed.

Celtic Renewables Ltd, a spin-out of Edinburgh's Napier University, is pioneering the commercial production of biobutanol, a high-value "clean" fuel capable of directly replacing petrol. The process, which was pioneered by Professor Martin Tangney, director of Napier's biofuel research centre, can also produce valuable acetone, ethenol and animal feed.

Mark Simmers, chief executive of Celtic, said that the product offered huge environmental benefits as well as a new source of revenue for distillers from material previously fit only for low-grade animal feed.  (go to article)

Biofuels digest -- ” Fidel has historically been against ethanol based on concerns that this would compete with food production.  (go to article)

Anchorage Daily News online -- JON GAMBRELL
The Associated Press

Published: February 5th, 2012 01:07 AM
Last Modified: February 5th, 2012 06:00 AM

LAGOS, Nigeria (AP) - An Eni SpA oil pipeline ruptured and caught fire as a militant group claimed responsibility for an attack in the region, their first alleged assault in months as its purported leader awaits trial on terrorism charges in South Africa.

The Movement for the Emancipation of the Niger Delta also threatened to attack South African interests in an email sent to journalists late Saturday night, as its alleged leader Henry Okah remains imprisoned there.

South African businesses "will pay a heavy price for the interference of (President) Jacob Zuma in the legitimate fight for justice in the Niger Delta, by its people," the statement read. "The South African  (go to article)

Anchorage Daily News online -- Associated Press

Published: January 31st, 2012 01:11 PM
Last Modified: January 31st, 2012 01:21 PM

JUNEAU -- An oil tax bill dealing with a progressive surcharge and incentives for new production is expected to be unveiled next week in the Senate.

Senate Resources Committee co-chair Tom Wagoner says he expects a bill before his committee by Feb. 10.

Under the current tax regime, a progressive surcharge is triggered when a company's net profits hit $30 a barrel. The industry has complained that this eats into profits when oil prices are high and discourages investment.

Wagoner's approach to incentives is "trust but verify." That is, incentives after new oil.

Critics of the governor's now-shelved oil tax-cut plan called it a giveaway with no guarantees Alaska would see additional  (go to article)

ABC - Channel 7 - Los Angeles -- The new Volkswagen Passat seems very European. It has subtle styling, firm seats, taut steering and suspension - all quite German.

But this VW isn't built in Germany. It's built in Chattanooga, Tenn.

Volkswagen has joined countless other international automakers and started building cars in the U.S.

VW will add 200 jobs at its plant.

Aimed to better compete with mid-size sedans like the Toyota Camry and Honda Accord, this latest Passat is more American-sized. There's lots of room in the seats and the trunk is huge. Options include a sound system by a very American name in music: Fender.

The Passat's base price is $19,995. Higher-end versions get fake wood trim that seems right out of Detroit, though perhaps from another era.
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Forbes -- Like many other automakers Hyundai is running ads on this year’s Super Bowl, including one for its popular Elantra line of cars. By all accounts it’s a straightforward affair, focusing more on the vehicle than on, say, raging zombies, barking/singing dogs or Soup Nazis.

...

Still, there’s one element that will be missing from the commercial – the car’s fuel economy ratings.

...

A group called Consumer Watchdog has been dogging Hyundai in recent weeks, asserting its “40 miles per gallon” claim for the Elantra to be inflated. The Elantra’s official fuel economy rating, certified by the Environmental Protection Agency, is 40 mpg highway, 29 mpg city and 33 mpg in combined driving.  (go to article)

Star Ledger -- For many people, this is the first time they’ve ever asked for the government’s financial assistance.

The economy may not be in a recession anymore, but many New Jerseyans are still struggling to pay the bills — especially when a crisis comes, be it layoff or health emergency.

That’s why the state started a program offering help to middle-income families who normally pay utility bills but are in a tough spot. The money comes from electric and natural gas ratepayers and for that reason is awarded to utility ratepayers, not those who heat their home with oil.
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MLIVE -- In the past decade, at least 1,100 crashes involving cellphones occurred throughout Kent, Ottawa and Allegan counties, according to an analysis by MLive Media Group. More than 5,400 others involved some other form of distracted driving.

Most are in Kent, about two out of three. Ottawa accounts for about 25 percent, with Allegan just under 10 percent.  (go to article)

Anchorage Daily News online -- REMEDIATION: Plugging just one carries price tag in the millions of dollars.

By WESLEY LOY
Petroleum News

Published: February 4th, 2012 10:11 PM
Last Modified: February 4th, 2012 10:11 PM

Officials with the U.S. Bureau of Land Management say the agency is monitoring environmental risk from old wells on federal land on Alaska's North Slope, as well as updating plans for remediating the sites.

The comments come in response to an Alaska state legislator's charge that the BLM has neglected the dozens of so-called legacy wells.

Rep. Charisse Millett, R-Anchorage, is sponsoring House Joint Resolution 29, which urges the BLM "to plug legacy wells properly and to reclaim the legacy well sites as soon as possible." Artealia Gilliard, spokeswoman for BLM Alaska, said the agency's priority is  (go to article)

Anchorage Daily News online -- EMPLOYMENT: It's also at a record high as companies hire maintenance workers.

By STEFAN MILKOWSKI
Petroleum News

Published: January 31st, 2012 10:05 AM
Last Modified: January 31st, 2012 10:05 AM

A new report by the research firm McDowell Group is shedding light on seemingly contradictory North Slope employment figures and an apparent spike in nonresident hire.

North Slope employment dropped sharply in 2009 but has since rebounded and is now at an all-time high. Industry spending is up, but more money is being spent on maintenance. And the third-quarter 2010 spike in nonresident hire is not likely the start of a trend.

State lawmakers commissioned the study last year during the debate over Gov. Sean Parnell's oil tax proposal, House Bill 110. Supporters of tax cuts pointed to the jump  (go to article)

Yahoo Autos -- When Nissan unveiled its Leaf EV last year, the wedge-like machine lifted the spirits of any motorist disgruntled by the Who Killed The Electric Car? era. None more so than Sadow, who grew up criss-crossing the country thanks to his father's job with the electric golf cart giant, E-Z-Go.

"You can say I got bit by the EV bug early, around the age of 7," Sadow says.

Fast forward a few decades, and that kid is now an electrical engineering whiz who has become consumed with making this incarnation of the electric car live.

"My goal is to make the EV a success, because it's the only thing that's going to save us," he says. "Our culture is based on cars, so that's not going away. But when petroleum becomes scarce, our economy is going to tank given our dependency on foreign oil. I just  (go to article)

Popular Mechanics -- The 2012 Hyundai Elantra and Ford Focus SFE are among 20-plus cars that now claim 40 mpg highway. But given the peculiar way in which the EPA calculates its fuel economy estimates, do those mileage numbers truly reflect real-world driving? We tested the Elantra and Focus on the streets and roads of Michigan to find out, with some surprising results.

PM Mileage Test at a Glance

We took two closely matched, high-mileage vehicles on multiple test loops to see if they could hit their EPA window-sticker numbers on real roads...
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Times Of India -- India will have to walk a fine line between continuing to source oil imports from Iran and escalating pressure from the US and Europe to adhere to tighter sanctions against the Islamic republic designed to prevent it from weaponizing its nuclear programme.

New Delhi may be staunchly opposed to Tehran acquiring nuclear weapons, but is caught in a bind since it cannot afford to substantially cut back energy imports from Iran, which as India's second largest supplier after Saudi Arabia meets 12% of its total oil requirements.

Tighter Western sanctions will make it harder for India to pay for the oil it sources from Iran, especially since Washington has declared it will ban from the American market all financial institutions that transact petroleum business with Tehran's Central Bank from  (go to article)

WSJ -- First there was the tech boom. Then the housing bubble.

Now, new profits and investment opportunities are emerging from the surge in U.S. gas and oil production. Innovations in drilling techniques—such as hydraulic fracturing, or fracking, and horizontal drilling—have made it easier to extract oil and natural gas from shale and other rock formations. That has boosted production and led to billions of dollars of profits for some early pioneers and investors.

"America stands on the verge of a major change that puts it on a course to near self-sufficiency" in energy, says Tobias Levkovich, Citigroup's chief U.S. equity strategist, who says the energy surge is a key reason to be upbeat on the market and U.S. economy.
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By VLADIMIR ISACHENKOV - Associated Press -- MOSCOW -- Russia's state-controlled Gazprom natural gas giant acknowledged for the first time Saturday that it had briefly reduced gas supplies to Europe amid a spell of extreme cold.

Gazprom deputy chief Andrey Kruglov reported to Prime Minister Vladimir Putin that the cuts lasted for several days and reached up to 10 percent, but supplies are currently back to normal. Officials in Austria and France, however, have reported cuts of as much as 30 percent, and Italy said supplies were down by 24 percent Thursday.

Russia previously had blamed Ukraine for the shortages, saying Kiev is siphoning off more than its share. Authorities in Ukraine have denied the accusations.  (go to article)