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Thursday, March 11, 2010

23
votes
With 2011 Sonata, Hyundai proves it's worth another look

Detroit News -- I've gotten tired of writing about the next good Hyundai.

And according to the late night profanity-laced messages left on my voice mail, so have Detroit readers.

So let's just stop acting surprised every time Hyundai rolls out an impressive car or crossover. This is a quality operation and its lineup is going to continue to improve. (For those keeping score, I also say the same thing about Ford Motor Co. and General Motors Co.)

The next piece of evidence: the 2011 Hyundai Sonata.

In the past, Hyundai was seen as the lower-priced alternative. Many consumers never considered it because they would drone methodically, "must buy another Camry" with the same appreciation for their car as their washing machine.
 (read more)

Submitted Today By:
70 Comments

22
votes
Va. gov McDonnell signs offshore energy bills

forbes.com -- RICHMOND, Va. -- Gov. Bob McDonnell signed into law Wednesday offshore drilling legislation intended to realize his goal of making Virginia the East Coast's energy superpower.

The bills supporting offshore oil and gas exploration and directing royalties from drilling back to Virginia each hinge on actions by the federal government and Congress.

Interior Secretary Ken Salazar is expected to announce his decision soon whether the government will move forward with the sale of oil and gas leases in a triangular tract 50 miles off of the Virginia coast. The 2.9 million acres has an estimated 130 million barrels of oil and 1.1 trillion cubic feet of natural gas.

McDonnell said the bill backing offshore exploration is intended to signal to Salazar the state's official endorsement of

 (read more)

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159 Comments

21
votes
Gasoline will dominate for a long while, panelists say

The Houston Chronicle -- With no technology offering the perfect solution, automakers are pursuing a multipronged strategy to reduce greenhouse gases by improving fuel efficiency and developing cars that run longer and better from an array of energy options.

But most motorists still can expect regular trips to the gas pump for quite a while, industry representatives said Wednesday at the IHS Cambridge Energy Research Associates CERAWeek energy conference.

“The future has to be a very diverse portfolio of answers,” said Britta Gross, who works on energy systems and infrastructure with General Motors Co., part of a panel that discussed the future of transportation.  (read more)

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114 Comments

21
votes
Oil Execs Chortle as Obama Admin Promotes Renewables

New York Times - Green Inc. -- HOUSTON -- Renewable energy is being praised in Washington, but it is generating snickers here in the nation's traditional energy capital, where oil, gas and utility leaders are gathered for a major industry conference.

Leaders of two of the world's largest oil and gas companies used their addresses at CERAWeek, a sprawling conference sponsored by energy analysis firm IHS Cambridge Energy Research Associates, to warn against unbridled optimism about wind and solar energy. Khalid Al-Falih, president and CEO of Saudi Aramco, deemed overreliance on renewable power dangerous, while ConocoPhillips Chairman James Mulva employed sarcasm to compare renewable boosters to those who won't acknowledge climate change.

"We must overcome the opposition of the 'hydrocarbon deniers,'"  (read more)

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93 Comments

20
votes
Spike in Prius complaints may not be all it seems

Montgomery Advertiser -- NEW YORK -- Reports of sudden acceleration in the Toyota Prius have spiked across the country. But that doesn't mean there's an epidemic of bad gas pedals in the popular hybrid.

Experts on consumer psychology said the relentless negative media attention Toyota has received since the fall makes it much more likely that drivers will mistake anything unexpected -- or even a misplaced foot -- for actual danger.

"When people expect problems, they're more likely to find them," said Lars Perner, a professor of clinical marketing at Marshall School of Business at University of Southern California.  (read more)

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7 Comments

Wednesday, March 10, 2010

27
votes
Traders bet on higher gasoline prices

The Globe And Mail -- Some of the boldest speculative oil traders at banks and hedge funds are betting on a return of gasoline's strength ahead of peak summer demand, bringing an early shift to summer from winter to the oil market.

Many traders use a popular spread play between gasoline and heating oil to try to make money from seasonal shifts in demand in the Northern Hemisphere.

But the spread is one of the most volatile and unpredictable in the oil market and is often called “the widowmaker” after the plight of those who have made the wrong bet.  (read more)

Submitted Yesterday By:
179 Comments

25
votes
Forget Toyota. Chrysler's got the most problems.

money.cnn.com -- NEW YORK -- The car company that is off to the worst start of 2010 isn't Toyota. It's Chrysler Group.

Industry experts say that even though Chrysler's overall sales are down only 3% during the first two months of the year, estimates show more than half of Chrysler's sales have been to fleet customers, such as rental car companies.

American consumers have essentially turned their backs on the Chrysler, Dodge and Jeep brands. By some estimates, the once proud member of America's Big Three automakers fell to No. 7 in February in terms of sales to U.S. consumers.  (read more)

Submitted Yesterday By:
143 Comments

24
votes
BP Still Ranked Greenest Oil Company by Greenopia...

Treehugger -- Greenopia has updated their guide to the greenest oil companies--though it may seem like it, it's not entirely an oxymoron--and BP is still on top. The other positions have shifted a bit, with Sunoco and Hess taking second and third place:

Companies were judged on six criteria: Environmental reporting, greenhouse gas emissions, production efficiency, production efficiency, oil spill efficiency, pursuit of alternative fuels, and stance on climate change. Each category is judged on a scale of 1 to 10.  (read more)

Submitted Yesterday By:
139 Comments

24
votes
Memo shows Toyota employees in Japan raised concerns

The Detroit News -- Toyota Motor Corp. turned over to Congress today a 3 1/2 -year-old memo written by employees in Japan raising questions about the company's safety record.

The Oct. 3, 2006, memo was requested by Rep. Ed Towns, D-N.Y., chairman of the House Oversight and Government Reform Committee after it was first published by the Los Angeles Times.

"If senior Toyota officials ignored important safety concerns raised by their own employees, it calls into question Toyota's corporate priorities and its commitment to safety," Towns wrote Monday to Toyota's North American chief Yoshimi Inaba, giving them a noon deadline today to turn over the memo.

The Detroit News today obtained an English translation of the two-page memo.
 (read more)

Submitted Yesterday By:
140 Comments

24
votes
DOE report bullish, retail prices may fall in some areas

GasBuddy Blog -- Surprise, surprise. The DOE report today was quite bullish on many fronts, pushing oil prices and gasoline futures up almost immediately. Prices have since fallen back to hold on to small gains. In its Weekly Petroleum Status Report, the DOE outlines higher demand for oil products, lower gasoline and distillate inventories, and crude inventories gaining a respectable amount.

Crude inventories rose 1.4 million barrels while gasoline and distillate fuels fell a combined 5.1 million barrels, an amount that was larger than I had expected. The number may reflect refiners eager to move winter-spec material as temperatures begin to warm.

Also included in the report was demand data that showed motorists increasing appetite for...  (read more)

Submitted Yesterday By:
414 Comments

Tuesday, March 09, 2010

24
votes
Korea Aims to Be Top 4 Green Car Maker

The Korea Times -- The government will finalize a roadmap plan by September to outline the strategies for the Korean auto industry to achieve a ``top-four'' global status in the emerging field of environment-friendly cars.

Despite the strengthening of ``green'' car initiatives, vehicles with hybrid drives are slowly rolling out of the gate here, with drivers being put off by the high prices and lagging fuel economy.

The Ministry of Knowledge Economy launched a forum on the green car strategies Tuesday, which was attended by more than 500 government officials, auto industry representatives and independent experts as they shared their ideas on expanding the market for hybrid and electric cars, and easing the transition on the manufacturing side.  (read more)

Submitted Mar 09, 2010 By:
108 Comments

24
votes
Feature: Electric cars explained

Canadian Driver -- Back when the automobile was young, many cars ran solely on electricity. At a time when you had to manually crank a gasoline engine to start it, battery-powered models offered the ease of simply pushing a button.

Cadillac’s introduction of an effective gasoline engine self-starter in 1912 changed all that. But today, concerns about fuel prices, oil reserves and the environment have automakers looking at a variety of vehicles that use electricity either alongside or instead of gasoline.  (read more)

Submitted Mar 09, 2010 By:
138 Comments

22
votes
Refinery updates and impact on gasoline

GasBuddy Blog -- With warmer weather infiltrating the U.S. and Canada, you can expect that refiners will begin to undergo maintenance to prepare for summer blended gasoline, and to ensure their equipment is ready for additional production. Facilities typically undergo maintenance during the Spring and Fall, coinciding with switches in gasoline production.

According to reports, Shell has recently restarted a Bay area gasoline producing unit after completing a two month overhaul. The restart had previously been delayed at least twice, according to the report. The latest restart is nearly two weeks after it was expected.

Delek recently reported shutting down a unit at its relatively small 60,000bpd facility in Tyler, Texas, according to a...  (read more)

Submitted Mar 09, 2010 By:
333 Comments

22
votes
What Exxon’s $300m man thinks about algal biofuel

The Financial Times -- The Wall Street Journal has an interview with J. Craig Venter, the biologist who mapped the human genome and whose company Synthetic Genomics last year received a sizeable commitmentfrom ExxonMobil to develop biofuels from algae.

Venter strikes an interesting balance between optimism and the reality of the many unknowns in getting algal biofuel towards being both cost-effective and scalable.

[We were interested to read the Synthetic Genomics is also working on a project with BP, although the financial details of that arrangement have not been disclosed.]  (read more)

Submitted Mar 09, 2010 By:
82 Comments

21
votes
Study: 'Cash for clunkers' had stronger influence than estim

The Detroit News -- Last year's "cash for clunkers" incentives program stoked demand for cars and trucks without pulling sales forward, according to a study by the Maritz Automotive Research Group.

"Our findings not only provide strong evidence that many more vehicles were sold as a direct result of the incentive program than were previously estimated, but they also largely debunk the myth that 'cash for clunkers' mortgaged future car and truck sales," said Dave Fish, vice president, Maritz Automotive Research Group.

"In fact, the program resulted in sales of vehicles to people who don't normally buy them."

Toledo, Ohio-based Maritz surveyed nearly 36,000 consumers who bought a new car or truck between July and August 2009, when the Car Allowance Rebate System was in effect.

 (read more)

Submitted Mar 09, 2010 By:
130 Comments

Monday, March 08, 2010

33
votes
Predicting future alternative fuel vehicle sales

Mother Nature Network -- While there are a wide variety of alternative fuel vehicles on the market today, experts still attempt to predict how these types of vehicles will fare in future markets. Recently, the U.S. Energy Information Administration (EIA) released a report called The Cars of the Future, which examines how well alternative fuel vehicles will sell over the next 25 years. According to their projections, alternative fuel light-duty vehicles could hold a nearly 50 percent market share by 2035.br>
In order to understand this prediction, it is important to know what types of vehicles are considered alternative fuel. The EIA has used the following alternative fuel vehicles to make this future sales forecast: flex-fuel, mild hybrid, hybrid gasoline/diesel electric, plug-in hybrid electric, gaseous, electric, and fuel cell.  (read more)

Submitted Mar 08, 2010 By:
270 Comments

29
votes
Risks of paying with credit at the pump- investigation

GasBuddy Blog -- Financial gurus have long said to avoid paying for daily purchases on a credit card to avoid going in to debt and having to deal with high interest rates, but there may be one more reason on top of that one to pay with the greenback- fraud. As technology has improved over the last five years, so has the ease of stealing credit and debit card numbers from gas station transactions.

In 2006, a chain of 51 Wesco stations in the Midwest informed customers that had used credit and debit cards at gas pumps that they likely had their credit card numbers stolen. The acknowledgment came after customers reported inaccurate credit card charges, all having used the pay-at-the-pump of one of the 51 locations owned by the chain.

In an...  (read more)

Submitted Mar 08, 2010 By:
486 Comments

28
votes
The View From Big Oil

The Wall Street Journal -- These days, giant oil companies find themselves trying to balance two big pressures on their business. Governments are trying to slash carbon emissions—but the world's thirst for oil is growing by leaps and bounds. Peter Voser, chief executive officer of Royal Dutch Shell PLC, is navigating the situation by joining a business-backed effort to push for global-warming laws, and making sure Shell has a strong exposure to natural gas and alternative fuels.

Mr. Voser sat down with The Wall Street Journal's Alan Murray and Kimberley Strassel to talk about the future of climate-change legislation, the company's push beyond oil, the prospects for electric vehicles and more.

Here are edited excerpts of their discussion.  (read more)

Submitted Mar 08, 2010 By:
146 Comments

26
votes
Refinery takes Canadian oil & turns it into gasoline for WI

The LaCrosse Tribune -- ROSEMOUNT, Minn. - The thick plumes of steam rising from the Flint Hills Resources Pine Bend Refinery can be seen for miles on Hwy. 52 south of the Twin Cities on a cold winter day.

Pine Bend was built in the 1950s to handle crude oil from western Canada, then tapped through conventional drilling in central Alberta.

But beginning in the 1960s and expanding greatly in the 1990s, Canadian oil companies have mined crude in the northeastern Alberta oil sands - thick, tar-like deposits mixed with sand.

This "feedstock," or unrefined oil, is separated from the sand and sent by pipeline to refineries in the northern United States.  (read more)

Submitted Mar 08, 2010 By:
104 Comments

23
votes
Huge Solar + Gas Hybrid Power Plant In Florida

South Florida Sun-Sentinel -- In former swamplands teeming with otters and wild hogs, one of the nation’s biggest utilities is running an experiment in the future of renewable power.

Across 500 acres north of West Palm Beach, the FPL Group utility is assembling a life-size Erector Set of 190,000 shimmering mirrors and thousands of steel pylons that stretch as far as the eye can see. When it is completed by the end of the year, this vast project will be the world’s second-largest solar plant.

But that is not its real novelty. The solar array is being grafted onto the back of the nation’s largest fossil-fuel power plant, fired by natural gas. It is an experiment in whether conventional power generation can be married with renewable power in a way that lowers costs and spares the environment.  (read more)

Submitted Mar 08, 2010 By:
68 Comments

Sunday, March 07, 2010

26
votes
Strong new vehicles behind Ford success

Detroit Free Press -- Don't mistake Ford's stunning 43.4% sales increase in February for a short-term windfall fueled by Toyota's multiple recalls.

While Ford almost certainly gained a few sales at Toyota's expense, February's triumph, with the company topping General Motors in monthly U.S. sales for the first time since 1998, was building for months before Toyota stalled.

Independent research suggests that Honda and Hyundai are the primary beneficiaries of Toyota's woes.

Sales for every Ford-brand vehicle but the aging Crown Victoria increased vs. February 2009. The Fusion midsize sedan more than doubled its sales from '09. While Ford enjoyed broad success, February gave Toyota more cause for concern. Despite that, Toyota's 8.7% sales decrease was less than many analysts expected.  (read more)

Submitted Mar 07, 2010 By:
203 Comments

25
votes
Toyota could start new U.S. plant in June 2011

Reuters -- Toyota Motor Corp will start operating its new plant in Mississippi as early as June 2011, the Tokyo Shimbun newspaper said on Sunday, as the Japanese automaker works to regain trust in the United States.

Toyota, suffering from a drop in profits and a dent in its quality reputation after recalling over 8.5 million vehicles globally for accelerator and brake related problems, has a major presence as an employer in the United States.  (read more)

Submitted Mar 07, 2010 By:
208 Comments

24
votes
Dealer ordered to pay $482,000 for selling a defective car

Detroit Free Press -- Despite the pending judgment, customer Marco Marquez, a 37-year-old businessman from Waukesha, called the case "a complete nightmare" and said he was still waiting for his money back.  (read more)

Submitted Mar 07, 2010 By:
126 Comments

22
votes
High-End Bet on Nuclear Power

Businessweek.com -- By Carol Matlack

Excerpts

The U.S. hadn't ordered a nuclear plant since the 1979 Three Mile Island accident. And after Chernobyl in 1986, business dried up just about everywhere outside pro-nuclear France.

Lauvergeon put Areva's engineers to work on a bold new technology called the Evolutionary Pressurized Reactor. The EPR is super-powerful, fuel-efficient, and loaded with safety features such as a reinforced concrete shell designed, post-September 11, to withstand a direct hit by a jumbo jet. Now the 50-year-old CEO is rolling out the EPR just as the nuclear industry awakens from its slumber.

"...President Obama awarded the first of an expected $54 billion in federal loan guarantees to help U.S. utilities build a new generation of nuclear plants."
 (read more)

Submitted Mar 07, 2010 By:
189 Comments

22
votes
Exxon Must Pay $1.2 Million for Workers’ Radiation Exposure

Bloomberg.com -- By Bob Van Voris and Leslie Snadowsky

Exxon Mobil Corp., the largest U.S. energy company, must pay $1.2 million to 16 Louisiana workers who claimed they were exposed to dangerous levels of radiation when they were cleaning used oil drilling pipes, a jury said.

A state court jury in Gretna, Louisiana, yesterday awarded the men amounts ranging from $10,000 to $175,000 each, finding that they face an increased risk of cancer as a result of their exposure to naturally occurring radioactive material in the used pipes between 1977 and 1992.

“It was not what I was hoping for,” said one of the men, David Perry, who was awarded $10,000.

The owners of the property where the men worked won a $1 billion punitive jury verdict against Exxon in 2001 for radioactive contamination from the pipe-clean  (read more)

Submitted Mar 07, 2010 By:
177 Comments