Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:54 AM

Recent Gas News/GasBuddy Blog

13
votes
pump to homepage help
Ford to Shift Canada Engine Plans to Mexico

FOX BUSINESS -- Ford Motor Co. (F) won't invest in putting new, smaller engines in plants in Windsor, Ontario, and instead will put the investment in Mexico, according to Unifor, the union that represents auto workers in Canada.

Ford and government officials had been discussing plans to build a plant in Windsor that could produce 1.5-liter and 1.6-liter, 4-cylinder engines. Those engines are commonly used in the Ford Fusion sedan and Escape sport-utility vehicle, which account together for more than a half-million vehicle sales in North America a year.

"We are disappointed," said Jerry Dias, the president of Unifor, in a statement. "The auto industries that are flourishing around the world are ones where there is a deep commitment from government and an understanding of the importance and wisdom of...  (go to article)

Submitted 20 minutes ago By:
7 Comments
Not Newsworthy
21
votes
pump to homepage help
New vehicle mileage hits record 24.1 mpg, but pace of improvement is slowing

Yahoo News -- DETROIT - Gas mileage for new cars and trucks in the U.S. averaged a record 24.1 miles per gallon last year, but gains in fuel economy are slowing.
The Environmental Protection Agency says fuel economy last year rose one-half mile per gallon over the 2012 model year, mainly because automakers have improved gas engines and transmissions and added turbochargers to give smaller motors more power.
Although last year's gain fell short of the 1.2 mpg improvement from 2011 to 2012, fuel economy is up almost 5 mpg since 2004, according to an annual report released by the agency on Wednesday. The EPA is predicting slower growth for this year, but officials still expect the industry to meet government standards that require the fleet to average 54.5 mpg by 2025.  (go to article)

Submitted 1 hour ago By:
33 Comments
Not Newsworthy
19
votes
pump to homepage help
US OFFERS LNG TO EUROPE TO HURT RUSSIANS

Daily Sabah -- Oil and natural gas wars have begun. The U.S. is planning on freeing Europe from its dependency on Russian natural gas by trying to import cheap natural gas. The 30 percent decline in crude oil prices is also putting pressure on LNG prices. The year 2014 has marked the start of a new war in energy markets. The war between natural gas and crude oil will possible intensify in 2015.

After a shale gas revolution, the U.S. will soon become the newest exporter of liquefied natural gas (LNG), and for a price that is four times less than that offered by Australia and Qatar. Along with these developments, a drop of $82 (TL 183.23) in crude oil prices will cause the competition between these two energy types to get even fiercer since LNG can replace oil. The danger limit of the price of crude...  (go to article)

Submitted 1 hour ago By:
79 Comments
Not Newsworthy
17
votes
pump to homepage help
EPA: Gas mileage inflated on 4 Mini Cooper models

Yahoo News -- DETROIT (AP) — The U.S. government has told BMW to reduce the gas mileage estimates on the window stickers on four of its Mini Cooper models after an audit found the figures were overstated.

The discrepancy, which varies from one to four miles per gallon depending on model, was discovered in testing at the Environmental Protection Agency's lab in Ann Arbor, Michigan, the agency said in a statement Wednesday.

The reductions affect the 2014 Mini Cooper three-door and Mini Cooper three-door S models with manual and automatic transmissions. The biggest discrepancy was in highway mileage, but city and combined mileages also must be reduced.  (go to article)

Submitted 1 hour ago By:
21 Comments
Not Newsworthy
21
votes
pump to homepage help
New land rig orders, construction continues despite oil price drop

Platts -- New orders for land rig building continue even amid the recent drop in oil prices, and analysts and drillers insist that industry's appetite for new state-of-the-art drilling units has not been slaked.

Big land drillers Patterson-UTI and Nabors said during respective third-quarter earnings calls this week that they have each contracted several newbuild rigs in the past three months.  (go to article)

Submitted 1 hour ago By:
94 Comments
Not Newsworthy
19
votes
pump to homepage help
The US has intervened to help Iraq hold its most important oil facility

PRI -- The US military has started running supply flights to support Iraqi security forces holding the huge, vital oil facility at Baiji.

The refinery, the largest in the country, is surrounded by ISIS fighters and their supporters. It's been shut down since mid-June, but the government is still clinging to control. A force of several hundred Iraqi troops and government supporters inside the refinery has fought off numerous attacks by insurgents over the past four months.

Ben Lando, editor of the Iraq Oil Report, says his sources report that the Iraqi government stopped running its own supply flights to the refinery after ISIS, which also calls itself the Islamic State, shot down at least two Iraqi helicopters in recent weeks.  (go to article)

Submitted 1 hour ago By:
114 Comments
Not Newsworthy
13
votes
pump to homepage help
Ontario gas prices will likely stay low for months: Expert

The Sun -- You won't be spooked by a spike in gasoline prices anytime soon, an energy expert says.

Ontario has been enjoying the lowest gas prices in two years, with the price of crude oil diving as low as $80 a barrel.

The weekly survey done by the Ontario Energy Ministry pegged London's average gasoline price this week at $1.18 a litre, although some stations were selling for $1.12 to $1.14 a litre.

Windsor offered the best bargain in Ontario, with an average price of $1.10 a litre.

Spencer Knipping, an Energy Ministry analyst, said gasoline prices are likely to stay relatively low for months.

He said most forecasters say the crude oil price will stay below $90 a barrel in 2015.

"It is very doubtful we will see a significant escalation in oil prices. Something really bad would have to happen  (go to article)

Submitted Yesterday By:
21 Comments
Not Newsworthy
18
votes
pump to homepage help
Honda executives to take pay cut after fifth Fit hybrid recall

Reuters --
(Reuters) - Honda Motor Co (7267.T) said on Thursday its president and 12 other executives would take an unprecedented, quality-related pay cut after the Japanese automaker announced the fifth recall in a year of its new Fit hybrid model.

The recall, which covers 425,825 Fit hybrid vehicles and other models in Japan, comes as Honda is facing lawsuits due to accidents involving airbags supplied by Takata Corp (7313.T). The airbags have been linked to four deaths - all on Hondas - and have triggered a multi-million vehicle recall by many automakers worldwide.
 (go to article)

Submitted Yesterday By:
44 Comments
Not Newsworthy
17
votes
pump to homepage help
Ukraine and Russia reach gas 'consensus'

BBC -- Ukraine and Russia have “found consensus” on a deal to end their gas dispute, according to the boss of Ukraine’s state gas firm. Andriy Kobolev told the BBC Naftogaz was prepared to settle part of its debts, while the two parties had agreed a price for gas this winter. But he did accuse Gazprom, Russia’s state energy company, of wanting to “create another crisis”. Russia halted supplies to Ukraine in June over unpaid bills.  (go to article)

Submitted Yesterday By:
21 Comments
Not Newsworthy
17
votes
pump to homepage help
Self-driving cars: ‘A vaccine that can save lives’

BBC -- If road accidents were a disease, it would be one of epidemic proportions; 1.2 million people die on the roads every year, almost as many as those who pass away from diabetes complications. And for Larry Burns, a professor of engineering at the University of Michigan, robot cars could be the cure for one of the world’s biggest causes of deaths.

Speaking after a panel discussion at the BBC Future World-Changing Ideas Summit in New York on 21 October, Burns said that the first designs for driverless, autonomous cars could be ready to roll out onto the roads as early as 2017. The main problem is that the world is not quite ready to accept them – due to issues over liability, regulation or just the fact that people aren’t yet ready to accept a car driving them to their destination.  (go to article)

Submitted Yesterday By:
42 Comments
Not Newsworthy
19
votes
pump to homepage help
Kuwait urges Gulf reforms as oil prices fall

AFP -- Kuwait's finance minister on Saturday called for economic reforms by energy-dependent Gulf states to cope with a drop in oil prices that has hurt their public finances.

Anas al-Saleh urged steps to tackle rising public spending, mainly on wages and subsidies, as well as efforts to boost the role of the private sector.
 (go to article)

Submitted Yesterday By:
30 Comments
Not Newsworthy
25
votes
pump to homepage help
Gas at its lowest price in nearly 4 years

Tri-County Times -- Gas prices go up, gas prices go down. The roller coaster ride of the gas pumps has left many people wondering why.

No, it’s not because of Ebola, or ISIS, or the upcoming election, according to gasoline price website GasBuddy.com.

While the actual reason for the gas price fluctuations are difficult to determine, GasBuddy.com says it has to do with seasonal price fluctuations and supply-and-demand changes, as well as price wars between some members of the Organization of Petroleum Exporting

Countries (OPEC) and concerns about the global health of the economy.

As of Monday, Oct. 20, retail gas prices in Flint averaged $3.13 per gallon, having risen 10.9 cents in the past week, according to GasBuddy.com. This compares with the national average that has fallen 6.1 cents per gallon in the  (go to article)

Submitted Yesterday By:
62 Comments
Not Newsworthy
24
votes
pump to homepage help
Man (passenger) Records Erratic Driver Before Dramatic Crash

Keystone Report - 6ABC -- MCCLELLANDTOWN, PA (WPVI) --
Two men driving in Fayette County, PA noticed a driver in front of them swerving all over the road. The passenger then grabbed his cell phone and started recording.

It didn't take long for that camera to capture a three vehicle crash.  (go to article)

Submitted Yesterday By:
32 Comments
Not Newsworthy
20
votes
pump to homepage help
GM Tech Center flood damage cost $132 million

Detroit Free Press -- The August flooding that caused extensive damage and displaced 19,000 workers at General Motors' Warren Tech Center cost $132 million, although some of that is insured.

GM disclosed the bill for the flood damage in a footnote to its third-quarter earnings.

"We are insured," said GM spokesman Tom Henderson in an email. "Any recoveries would be reflected in future earnings reports."
 (go to article)

Submitted Yesterday By:
28 Comments
Not Newsworthy
28
votes
pump to homepage help
Manufacturer halts sales of highway guardrails

Houston Chronicle -- A Texas company is stopping shipments of a common highway-guardrail system and conducting more crash tests after it lost a $175 million jury verdict.

Trinity Industries said Friday that it would stop selling the ET-Plus system until testing is complete.

Earlier this week, a jury in federal district court in Marshall, Texas, decided that Trinity should pay at least $175 million for misleading regulators. A whistle-blower charged that the company changed the design of caps that go on the ends of the guardrails but didn't tell regulators until several years later. A judge could triple the jury's verdict. Trinity criticized the decision and hinted that it would appeal.

Critics say that when vehicles strike the guardrail ends, guardrails don't crumple as they should, but instead become spear  (go to article)

Submitted Yesterday By:
48 Comments
Not Newsworthy
26
votes
pump to homepage help
Electric cars offer a lot of bang for your buck

Detroit Free Press -- Drivers have never had so many choices when it comes to alternative fuel technology. Below is a comparison of some of the cheapest vehicles to operate using various fuels. Each vehicle model has its pluses and minuses.  (go to article)

Submitted Yesterday By:
55 Comments
Not Newsworthy
32
votes
pump to homepage help
How China is scoring cheap oil 14,000 miles away as the global glut deepens

Bloomberg News -- China is finding oil supplies 14,000 mi away, aided by the global rout in prices that’s left producers vying for new markets

PetroChina bought Colombian crude for the first time because it was good value. The transaction underscores how the world’s 2nd-biggest oil consumer is benefiting as producers from the Middle E to L Am vie for customers in Asia

China consumed the 2nd-biggest amount of crude on record in Sep

The country’s crude imports rose 7.8% to 6.74Mbpd, in Sep from last yr

The number of supertankers sailing toward China’s ports surged to a 9-month high last week

Shipments from Saudi Arabia, its biggest supplier, shrank about 11%

Refiners including PetroChina processed 10.3Mbpd, up 9.1% from a yr earlier

The U.S. imported 7.62Mbpd in Jul, 29% less than the peak in Jun 2005  (go to article)

Submitted Yesterday By:
37 Comments
Not Newsworthy
23
votes
pump to homepage help
White House Will Review Auto Safety Regulator

NY Times -- Concerned about safety lapses by the country’s top auto regulator, the Obama administration is undertaking a comprehensive review of the agency.  (go to article)

Submitted Yesterday By:
33 Comments
Not Newsworthy
28
votes
pump to homepage help
Ford rejects pitch for proposed $1.5B-plus investment in Windsor plants, union boss says

Postmedia News -- Ford Motor Co. has decided against awarding a new engine program to its Windsor plants, which could have created up to 1,000 additional jobs, Chris Taylor, president of Unifor Local 200, said Friday.

“At this point we are not being sourced any new product; the product is not going to be awarded to Windsor,” said a disheartened Taylor. “It’s very, very devastating news for our members and our community.”
 (go to article)

Submitted Yesterday By:
37 Comments
Not Newsworthy
32
votes
pump to homepage help
Dangerously defective air bags raise questions about automakers’ ability to handle gigantic recall

Washington Post -- Federal safety authorities have recalled only 7.8 million vehicles over the defect in a few states, a limited action that lawmakers said Thursday was vastly insufficient to address what they deemed “a public safety threat.”  (go to article)

Submitted Yesterday By:
54 Comments
Not Newsworthy
28
votes
pump to homepage help
100 Banned Louisiana plates

KSLA -- Try as they might, many motorists could not outsmart officials at the Louisiana Department of Motor Vehicles.

With help from our partners at WRNO, we have pieced together 100 banned Louisiana vanity plates.

**Warning: Some viewers may find these plates somewhat offensive.**

Mobile user? Click here to view the full slideshow: http://bit.ly/YNFrKI

Copyright 2014 WVUE. All rights reserved.  (go to article)

Submitted Yesterday By:
45 Comments
Not Newsworthy
23
votes
pump to homepage help
Signs positive for Jeep Wrangler to remain in Toledo

Detroit News -- The uproar over Jeep Wrangler production possibly moving out of Toledo during the last several weeks may have been premature.

The next-generation of the popular sport utility vehicle will reportedly continue being produced using its current body-on-frame manufacturing process, thus remaining compatible with its current Toledo Assembly Complex home and likely staying in the city, Automotive News reported this week via unnamed sources.

Jeep spokesman Todd Goyer would not confirm nor deny the decision, saying the company does not comment on future product plans. He simply said “it will be the most capable Wrangler ever.”

The Toledo mayor’s office, which met with Fiat Chrysler Automobiles CEO Sergio Marchionne earlier this month to discuss Wrangler production, said officials are continuing  (go to article)

Submitted Yesterday By:
22 Comments
Not Newsworthy
32
votes
pump to homepage help
Internet car radio poses bigger threat for local AM-FM

Detroit News -- Twenty-five years ago, carmakers decorated their auto exteriors with eye-catching wood trim. Today, the wood is on the inside, complementing flashy center consoles with seven-inch, digital touch screens.

The car dashboard is being transformed and it's taking AM-FM radio with it.

Just as it did newspapers and broadcast television, the Internet revolution is roiling the local broadcast landscape that has long held a monopoly on the car radio.

With center console infotainment systems, the in-car landscape has undergone a seismic shift started by satellite radio two decades ago and accelerated by Internet players like Pandora, Spotify, and iHeartRadio.

Now, AM-FM stations face a tipping point as Apple CarPlay, Google's Android Auto, and in-car Wi-Fi hot spots fundamentally change the user  (go to article)

Submitted Yesterday By:
39 Comments
Not Newsworthy
32
votes
pump to homepage help
Pay-by-the-mile driving? Idea resurfaces in Colorado election campaigns

Denver Business Journal -- Long a buzzword among policy wonks and transportation planners, the idea of creating a vehicle-miles-traveled fee to supplement or replace the gasoline tax has surfaced again in both federal and statewide political races in Colorado.

The VMT fee would measure the distance traveled by a car or truck and charge the vehicle owner accordingly in order to raise money for road repairs and highway-building.

It's an idea that cuts across party lines. Democrats and Republicans who back it say that it could be an equitable substitute for state and federal gas taxes that bring in diminishing returns as more alternative-fuel and fuel-efficient vehicles populate the roads, while opponents from both parties argue that devices used to track such mileage are an intrusion on drivers' liberties.  (go to article)

Submitted Yesterday By:
78 Comments
Not Newsworthy
42
votes
pump to homepage help
Falling gas prices make hybrids & EVs less attractive

GasBuddy Blog -- You probably saw this coming...

Hybrids, EVs and other alternative-fuel vehicles don't sell well when gas prices are falling.Tanner Hulette, general manager of Mechanicsville Toyota near Richmond, Va., said he's seeing higher demand for pickups and SUVs, and less interest in the Prius hybrid. The store's year-to-date light-truck sales are up 5 percent while car sales are down 5 percent. And gas near him is as low as $2.70. "The floor traffic is dictated by what's going on with fuel," Hulette said. "If we didn't have SUVs and light trucks right now we'd definitely be feeling some pain."...  (go to article)

Submitted Yesterday By:
PD
1399 Comments
Not Newsworthy
29
votes
pump to homepage help
Weak Q3 a 'pit stop' for Ford as major product roll-out continues

MLive -- Global wholesales are expected to continue to be slow for Ford in October but will pick up toward the end of the year, as the company continues to roll-out a slew of new products.

That was the message from the Dearborn automaker's executives in a conference call with analysts and the media Friday to discuss the company's third quarter results, which included a 3 percent decrease in wholesales, a 2 percent drop in revenue and a 34 percent decline in net profit.

"It's not a pause in our sales growth, it's a pit stop," Ford president and CEO Mark Fields said. While acknowledging that the quarter was "challenging," Fields also noted that the company launched three times as many products as it had during the year-ago quarter.

In the latest quarter, Ford began production of the all-new,...  (go to article)

Submitted Yesterday By:
31 Comments
Not Newsworthy
46
votes
pump to homepage help
Gas prices are tumbling, but that’s not necessarily a good thing

Washington Post -- The fall in oil prices to their lowest point since 2010 makes clear that a new era for world oil is at hand – one defined by the continuing surge in U.S. production. This is a big contrast with the era – now over – that began a decade ago, when the most important factor was the dramatic increase in the oil demand of rapidly growing China.

This growth in U.S. tight oil — a light crude that is trapped in dense, hard-to-reach rock — has come on fast. It only really got going around 2008, launched by advances in horizontal drilling and hydraulic fracturing, or fracking — the same technology that created the shale gas boom. The results have outstripped expectations, with U.S. crude oil output jumping 80 percent in just six years. That increase — almost 4 million barrels per day — is greater th  (go to article)

Submitted Yesterday By:
1299 Comments
Not Newsworthy
45
votes
pump to homepage help
Average gas price in Ohio drops below $3 for the first time since 2010

Fox Business -- COLUMBUS, Ohio – Ohio's average gas price has dropped below $3 for the first time in nearly four years.

A gallon of regular gasoline in Ohio averaged $2.99 Friday, according to auto club AAA, the Oil Price Information Service and WEX Inc. The last time Ohio's average gas price dropped below $3 was on Dec. 10, 2010.

AAA says it's typical for gas prices to drop during the last months of the year, but other factors have helped bring prices down. The auto group also attributes the falling gas prices to lower crude oil prices at home and abroad, an increase in U.S. refineries' crude oil supplies to make gasoline and a quiet hurricane season along the eastern coastline.

AAA expects gas prices to remain low through the end of the year.  (go to article)

Submitted Yesterday By:
823 Comments
Not Newsworthy
31
votes
pump to homepage help
The promise of LNG has B.C.’s Northwest buzzing

THE VANCOUVER SUN (VIDEO) -- In Kitimat, the streets are busy — the town full of activity, heady with anticipation.

Also a little apprehension.

At the entrance of town, across the highway from the chamber of commerce office, a new subdivision is under construction.

The two LNG plants — one led by Chevron (Kitimat LNG) and the other by Shell (LNG Canada) — will cost more than $20 billion. The pipelines that would supply the plants will add billions more to the price tag.

And while much of the money will be spent on the plant equipment, pipe and other supplies far from Kitimat, money will also be spent locally on workers, construction materials and fast-food outlets.

Kitimat has already tasted the effects of an industrial construction boom. The workforce for Rio Tinto’s $4.8-billion modernization of its aluminum...  (go to article)

Submitted Yesterday By:
45 Comments
Not Newsworthy
49
votes
pump to homepage help
‘Full credit or blame’ on gas prices

MSNBC -- It was just a couple of years ago that Republicans positioned gas prices one of the nation’s most important political issues. Mitt Romney, during his failed presidential bid, argued President Obama “gets full credit or blame for what’s happened in this economy, and what’s happened to gasoline prices under his watch.”

The argument was always a little silly. Gas prices were extremely low when Obama first took office in early 2009 because there was a global economic crisis underway, weakening demand and pushing prices at the pump much lower. Consumers were paying more in 2012 than 2009, but that was because the economy had recovered.

But if Romney was correct, and the president deserves “full credit” for the price of gas, Republicans must be awfully impressed with Obama right now.  (go to article)

Submitted Yesterday By:
1351 Comments
Not Newsworthy
24
votes
pump to homepage help
Dayton signs order easing propane rules to try to head off shortage

Pioneer Press -- Gov. Mark Dayton has temporarily lifted some rules governing the transport of propane.

Dayton signed an executive order Friday that allows propane delivery drivers a longer daily window to transport the product. They would still face limits on the amount of time they can spend behind the wheel. The order is similar to ones he's signed in the past to combat distribution shortages. Last year, propane shortages drove up heating costs.

Because of late planting and harvesting, propane is in higher demand as farmers work to dry their crops.  (go to article)

Submitted Yesterday By:
42 Comments
Not Newsworthy
37
votes
pump to homepage help
Ford picks Mexico over Windsor for engine plant, union says

CBC News -- Ford Motor Co. has decided to build its new engine in Mexico after it was unable to reach a deal with the federal and Ontario governments to bring the investment to Windsor, Ont., Unifor said Friday.
Both levels of government suggested that they would not provide public money for the project because the automaker wouldn't make certain job and economic commitments.
In a news release, Unifor said it had hoped that months of discussions between Ford, two levels of government and the union would result in "significant investment which would have secured the production of a global engine at the Windsor facility."
It has been confirmed that the global engine will be built in Mexico,  (go to article)

Submitted Oct 24, 2014 By:
55 Comments
Not Newsworthy
35
votes
pump to homepage help
U.S. Gas Prices Will Not Rise on Lifting Crude Export Ban - study

Reuters via Downstream Today -- A highly anticipated study by the U.S. Energy Information Administration will show that domestic oil prices will not rise if the U.S. ban on oil exports is lifted, the agency's top administrator said Thursday.

Domestic gasoline prices are set in the global market, and the price of U.S. gasoline is tied more closely to the global benchmark price than WTI, the U.S. benchmark, EIA administrator Adam Sieminski said.

"If you allowed the ban to be lifted, WTI prices could indeed go up, but it probably wouldn't do a great deal one way or the other with gasoline prices,' Sieminski said.

Sieminski, a former chief energy economist for Deutsche Bank, made the comments while taking questions about  (go to article)

Submitted Oct 24, 2014 By:
47 Comments
Not Newsworthy
40
votes
pump to homepage help
Reminders to keep your vehicle safe on Halloween

GasBuddy Blog -- With Halloween approaching, it's a good time to remind drivers of how to protect their vehicles and assets from thieves this holiday season. Historically, more cars have been stolen on Halloween than any of the other major holidays, according to the National Insurance Crime Bureau's 2012 Holiday Theft Report. According to the report, on average more than 2,300 vehicles fall victim to theft on October 31st each year.You can use these simple tricks to keep robbers from making a treat out of your vehicle this Halloween:

-Don't leave your car in unfamiliar locations overnight. If you're planning on attending a Halloween party at a bar or a friend's house, leave your car at home and take a cab to and from the event....  (go to article)

Submitted Oct 24, 2014 By:
PD
1777 Comments
Not Newsworthy
33
votes
pump to homepage help
2015 Dodge Challenger SRT Hellcat Test Drive

foxnews.com -- This is just getting ridiculous.

Ridiculously awesome, that is.

The muscle car wars have a new heavyweight champion, the Dodge Challenger Hellcat.

The burly cruiser has been redesigned for 2015, and to celebrate, they stuffed the top-of-the-line model with 6.2-liters worth of supercharged V8 that pumps out an absurd 707 hp and is named for a WWII fighter plane. Deservedly so.

Never before has an American production car harnessed so many horses, and the only others in the world that do cost about five times the Challenger’s $60,990 price. That’s a big $15,000 jump from the next most powerful Challenger, the no-slouch 485 hp SRT 392, and indicative of just how special the Hellcat engine is.

Essentially an all-new motor, it has a 2.4-liter supercharger, two cooling systems, two . . .  (go to article)

Submitted Oct 24, 2014 By:
37 Comments
Not Newsworthy
36
votes
pump to homepage help
Study: Handheld phone enforcement doesn't cut crashes

Detroit News -- High enforcement of bans on hand-held driver phone use bans led to a drop in violations, but no decline in insurance claims for crashes, a study released Friday said.

The Insurance Institute for Highway Safety looked at claims after two high-profile federally funded enforcement efforts by local and state police in the Hartford, Connecticut, and Syracuse, New York between April 2010 and April 2011.  (go to article)

Submitted Oct 24, 2014 By:
39 Comments
Not Newsworthy
34
votes
pump to homepage help
Ford halts plan to create 1,000 jobs at Winsor engine plant

Global news -- Ford Motor Co. is nixing plans to award its Windsor engine assembly plant with a new investment program that would have created 1,000 jobs, according to union reps.  (go to article)

Submitted Oct 24, 2014 By:
37 Comments
Not Newsworthy
30
votes
pump to homepage help
Canadian oil producers Husky, Cenovus say price storm won’t derail growth plans

Financial Post -- Despite a bear market for oil, two of Canada’s largest producers said Tue their growth plans have not yet been derailed

“We are in the midst of volatile oil prices. We’ve taken several steps to weatherproof our business

Both companies reported production growth over the last quarter — and over the past 12 months. Husky grew production 2% Q2Q and 10% since this time last year. Cenovus’ total production was up 13% from the same Q last year

Cenovus plans to further expand its existing oil sands facilities are on track

Despite growing its production, Husky’s earnings missed analyst projections. The company’s net earnings slipped 9%

“Our philosophy is that times like these call for prudence and focus

Neither company would give a preview of their 2015 capital expenditure budgets, which are  (go to article)

Submitted Oct 24, 2014 By:
14 Comments
Not Newsworthy
36
votes
pump to homepage help
NC Prosecutor To Dismiss Speeding Tickets Because Of Radar Guns

Asheville Citizen Times -- An Asheville prosecutor will dismiss about 230 speeding tickets city police wrote using radar guns with out-of-date certifications.

District Attorney Ron Moore said he planned to file the dismissals on Thursday.

City police completed a review of 4,500 tickets on Oct. 17. Officers found about 2,000 had been issued base on speed measuring devices, such as radar guns. Of that amount, 336 came from devices with lapsed certifications.
 (go to article)

Submitted Oct 24, 2014 By:
46 Comments
Not Newsworthy
38
votes
pump to homepage help
Saudi Arabia's Risky Oil-Price Play

Bloomberg Business Week -- With the U.S. on track to become the world’s largest oil producer by next year, it’s become popular in Washington and on Wall Street to call America the new Saudi Arabia. Yet the real Saudi Arabia hasn’t relinquished its role as the producer with the most influence over oil prices. Its reserves of 266 billion barrels, ability to pump as many as 12.5 million barrels a day, and, most important, its low cost of extracting crude still make it a formidable rival to the U.S., whose shale wells are hard to exploit.  (go to article)

Submitted Oct 24, 2014 By:
28 Comments
Not Newsworthy
33
votes
pump to homepage help
Are Low Gas Prices a good sign

NPR -- All around the country, gasoline prices have been falling for weeks, down to an average of about $3 a gallon. Those lower prices are helping restrain inflation across the board.

On Wednesday, the Labor Department said its consumer price index barely inched up 0.1 percent last month. Over the past 12 months, the CPI has risen by 1.7 percent, roughly half of its historical average rate of increase.

That sounds great for consumers.

But some economists see possible trouble ahead. They worry that if energy prices were to keep sliding, the process could contribute to deflation — a brutal cycle of falling prices last seen in this country during the Great Depression of the 1930s.  (go to article)

Submitted Oct 24, 2014 By:
50 Comments
Not Newsworthy
32
votes
pump to homepage help
Where Are Oil Prices Headed Next?

Fox Business -- Oil prices tried to overcome a huge 7.1 million barrel increase in oil supply but could not in the face of another act of terror and fears of declining demand.

US oil production is showing no signs of slowing as production surged above 9 million barrel per day. This comes as refiners struggled as maintence and refining glitch’s dropped refining runs to a disappointed low 86.7%. Still gas production increased to 9.3 million barrels a day which exceeded the four weak daily demand number of 8.8 million barrels a day which is 2% less than a year ago.
 (go to article)

Submitted Oct 24, 2014 By:
27 Comments
Not Newsworthy
39
votes
pump to homepage help
Future Oil Prices Drop again

Bloomberg News -- “The Saudis increased production, so there is no signal that they’ve changed their behavior with an eye on pushing prices back up,” Bjarne Schieldrop, chief commodity analyst in Oslo at SEB AB, said by phone. “The Ebola case in New York could also spark fears that restrictions will be put on international flights, potentially hurting jet fuel demand.”

WTI for December delivery dropped as much as 1.09 cents to $81 a barrel in electronic trading on the New York Mercantile Exchange and was at $81.05 at 1:42 p.m. London time.  (go to article)

Submitted Oct 24, 2014 By:
48 Comments
Not Newsworthy
34
votes
pump to homepage help
Ford Q3 net income of $835M on $1.2B pre-tax profit

USA Today -- Ford Motor said it had pre-tax profit of $1.2 billion the quarter and net income of $835 million.,

The pre-tax number was less than half the $2.6 billion a year earlier. The net was well off the year-ago net of $1.27 billion.

Shortly after the 7 a.m. announcement, Ford shares traded at $14.61, down from the pre-opening high of $14.86.

Ford affirmed the full-year pre-tax profit forecast of $6 billoin that it provided investment analysts Sept. 29. That's down from a range of $7 billion to $8 billion that Ford gave earlier in the year.

Last month Ford warned investors that its record number of launches this year is cutting into profit margins in North America. And it said losses will be greater than anticipated in Europe at $1.2 billion.  (go to article)

Submitted Oct 24, 2014 By:
50 Comments
Not Newsworthy
36
votes
pump to homepage help
U.S. Oil Seen as Buffer for Global Prices and Supply

Bloomberg -- U.S. oil output is buffering global crude prices and critical to the world’s supply balance amid the threat of disruptions, even as a ban on domestic exports remains in place, Energy Secretary Ernest Moniz said.

A surge in the nation’s oil output comes as markets are faced with near-historic highs of unanticipated outages, Moniz, 69, said at a talk organized by the public-affairs forum Commonwealth Club in San Francisco yesterday. He agreed with a government report finding U.S. gasoline prices may drop should the prohibition on crude exports be lifted.

Moniz is leading the Energy Department through an unprecedented boom in U.S. fuel production. The nation’s oil output has jumped to a 28-year high and natural gas supplies have increased by so much companies are building terminals ...  (go to article)

Submitted Oct 24, 2014 By:
52 Comments
Not Newsworthy
50
votes
pump to homepage help
Kelley Blue Book says new car purchasing is a 'bumpier road' for women

GasBuddy Blog -- When it comes to car shopping, women are driven by features – engaging in extensive research to find the best fit – while from the outset many men are revved about a particular car brand, according to a study just released by Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.           One-in-five men know the exact vehicle he wants, while women are twice as likely to be undecided about what vehicle they desire, the study revealed. Additionally, 58 percent of men are confident in the car-buying arena, versus 38 percent of women. As a result, women take longer to make a purchase (a median of 75 days, compared with men’s 63 days), because they are spending more time than men doing research in an effort to build confidence and knowledge. ...  (go to article)

Submitted Oct 24, 2014 By:
PD
1513 Comments
Not Newsworthy
61
votes
pump to homepage help
Gas Prices Just Hit a Low for 2014

Money Brad Tuttle -- Around the country, drivers are paying the lowest prices of the year for gas.
Gas prices
More

$3 Per Gallon Gas, Here We Come

The summertime swoon for gas prices has continued into fall, and now it looks like the forecasts calling for lower and lower prices at the pump are right on track.

Earlier this week, AAA noted that the national average for a gallon of regular stood at $3.29
and that we were on the brink of matching the cheapest mark thus far in 2014 ($3.27, hit on February 9). Well, as of Wednesday, AAA data indicated the national average hit $3.267, a new low for the year.  (go to article)

Submitted Oct 24, 2014 By:
1149 Comments
Not Newsworthy
49
votes
pump to homepage help
The World's New Biggest Ship? Maybe. Niftiest Ship? For Sure

BLOOMBERG BUSINESSWEEK -- What’s most impressive about the Pieter Schelte isn’t its size, though, it’s what the megaship can do.

The Pieter Schelte is a cross between a ship and a giant very dexterous robot. Its job is partly to lay undersea pipelines for oil and gas and partly to install and remove offshore drilling platforms. All of this means that platforms can be built onshore then delivered to their location; when they’re no longer needed they can be taken to a new location or brought back to shore for disassembly.

To that end it has eight arms on its bow that can clamp to the supporting struts of an oil platform, holding it perfectly still even in 11-foot waves, using its “active motion compensation system.” Its massive lift system can pop an oil platform off its supports as if picking a 48,000-ton flower.  (go to article)

Submitted Oct 24, 2014 By:
166 Comments
Not Newsworthy
54
votes
pump to homepage help
Islamic State was making $1 million a day from oil sales before airstrikes began

The Washington Post (VIDEO) -- The Islamic State sells oil from territory it controls in Syria and Iraq to Turkish middlemen, Iraqi Kurds and even the Syrian government of President Bashar al-Assad, according to the Obama administration’s point man on terrorist financing.

Before the United States began targeting refineries in militant-occupied areas of Syria last month, the Islamic State was making about $1 million a day from oil sales, Treasury Department Undersecretary David S. Cohen said Thursday.

Its total income of “millions of dollars per month” from oil kidnapping ransom and extortion in occupied areas and the speed with which it has amassed funds, make the Islamic State unlike any other terrorist entity the United States has confronted, Cohen said.

The group also differs from other organizations, including...  (go to article)

Submitted Oct 24, 2014 By:
651 Comments
Not Newsworthy
41
votes
pump to homepage help
South Central Ohio gas prices down four cents

Jackson County Daily -- South Central Ohio gas prices fell four cents to $3.093 a gallon, according to AAA East Central’s Fuel Gauge Report.

This week’s South Central Ohio average price: $ 3.093.

Average price during the week of Oct. 14, 2014: $ 3.136.

Average price during the week of Oct. 22, 2013: $ 3.409.

The average price for unleaded regular gasoline in Ohio is $3.044.

On the National Front

Today’s national average price for regular unleaded gasoline is $3.09 per gallon. This is a dime less than one week ago, 25 cents less than one month ago and 26 cents less than one year ago. Drivers are saving an average of 61 cents per gallon compared to the 2014 high of $3.70 (set on April 28).  (go to article)

Submitted Oct 24, 2014 By:
581 Comments
Not Newsworthy
59
votes
pump to homepage help
A World Without OPEC?

The New York Times -- Forty-one years ago this month, the Arab oil embargo began. The countries that were part of it belonged, of course, to the Organization of Petroleum Exporting Countries — OPEC — which had banded together 13 years earlier to strengthen their ability to negotiate with international oil companies. The embargo led to widespread shortages in the United States, higher prices at the gas pump and long lines at gas stations. By the time it ended, the price of oil had risen to $12 a barrel from $3.

Perhaps more important than the price increases themselves was the new world order the embargo signaled. The embargo “set in motion geopolitical circumstances that eventually allowed [OPEC] to wrest control over global oil production and pricing from the giant international oil companies — ushering in  (go to article)

Submitted Oct 24, 2014 By:
1544 Comments
Not Newsworthy