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Keyword: gasoline

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  • Wholesale California gasoline prices plunge, consumers still pay up

    07/29/2016 8:52:37 AM PDT · by Lorianne · 34 replies
    Reuters ^ | 29 July 2016 | Liz Hampton, Jessica Resnick-Ault
    Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers are still paying the highest prices in the continental United States to fill up their cars. Ample inventories along with relatively stable refinery operations and imports has driven down the spot value of gasoline in Los Angeles at the wholesale level by more than 60 cents since mid-June. However, that has not translated to similarly lower retail fuel prices for consumers because of peculiarities in California's market. The declines in the state's retail gasoline market over...
  • Breakthrough solar cell captures carbon dioxide and sunlight, produces burnable fuel

    07/29/2016 8:50:46 AM PDT · by Red Badger · 72 replies
    phys.org ^ | July 28, 2016 | Provided by: University of Illinois at Chicago
    Simulated sunlight powers a solar cell that converts atmospheric carbon dioxide directly into syngas. Credit: University of Illinois at Chicago/Jenny Fontaine ********************************************************************************************************************** Researchers at the University of Illinois at Chicago have engineered a potentially game-changing solar cell that cheaply and efficiently converts atmospheric carbon dioxide directly into usable hydrocarbon fuel, using only sunlight for energy. The finding is reported in the July 29 issue of Science and was funded by the National Science Foundation and the U.S. Department of Energy. A provisional patent application has been filed. Unlike conventional solar cells, which convert sunlight into electricity that must be stored...
  • The Biggest Threat To Oil Prices Is The Dollar, Not A Supply Glut

    07/28/2016 9:14:52 AM PDT · by bananaman22 · 5 replies
    The glut of gasoline and other refined products has taken center stage for the oil markets, threatening to initiate a new bear market and push oil prices down below $40 per barrel for the first time in months. But while a surplus of refined products is weighing on crude prices, there could be another culprit that does not get as much publicity. Goldman Sachs says that a strong dollar deserves more blame for an oil price downturn, and further strengthening of the greenback looms as a much larger threat to prices than the gasoline glut. The U.S. Federal Reserve could...
  • Has anyone heard of Mukti Petroleum Inc.? Who owns it?

    07/17/2016 10:40:09 AM PDT · by EinNYC · 45 replies
    Local gas station sign | July 17, 2016 | Me, Myself, & I
    A local Citgo gas station recently changed into a "Mukti" gas station. I tried to do some research on Google to find out who Mukti is, but could not find out who really is behind that company. I suspect it is some Muzzie enterprise, and therefore I wouldn't touch it with a 10 ft. pole. Does any FReeper know anything about this company? Apparently it's quite local for the time being, hasn't gone national or even regional.
  • IEA: Gasoline Glut Could Cause Oil Price Rout

    07/13/2016 9:39:07 AM PDT · by bananaman22 · 7 replies
    Oilprice.com ^ | 13-07-2016 | IEA
    Oil prices have been crushed over the past two years because of a glut of production. With supplies falling off, particularly in the U.S. shale patch, prices have begun to firm up. But another glut that has built up and has stubbornly refused to fall threatens another oil price downturn. In its July Oil Market Report, the International Energy Agency warned about shockingly high levels of refined products sitting in storage. Gasoline, diesel and heating oil are built up to such high levels in so many parts of the world, that a sharp rise in crude oil prices is unlikely...
  • Cheap Gas’ Latest Victim is Fuel Economy

    07/08/2016 9:42:09 AM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 08-07-2016 | Irina
    Falling prices at the pump have given motorists reason to rejoice continuously over the last year and a half, but they’re not good news for everyone. At least, not for the people who are about fuel economy. The latest sales-weighted fuel economy ratings report by the University of Michigan Transportation Research Institute revealed that in June, the value of the indicator was 25.3 miles per gallon, down from 25.4 mpg in May. Now, that’s not a huge dip, as Road Show author Andrew Krok notes, but it follows a pattern of declining fuel economy that parallels the decline in gas...
  • Report: Obama's oil tax would mean huge tax hike for gasoline

    06/10/2016 8:37:23 AM PDT · by PROCON · 17 replies
    washingtonexaminer ^ | June 9, 2016 | KYLE FELDSCHER
    The Obama administration's proposed $10.25 tax on each barrel of crude oil produced in the United States would be one of the biggest tax increases on gasoline in history, a report released Thursday showed. Alaska Republican Sen. Lisa Murkowski, chairwoman of the Senate Energy and Natural Resources Committee, released a Congressional Research Service report showing historical increases in the federal gasoline tax in an attempt to put the oil tax in perspective. While the tax would be levied on oil companies, economists assume that oil companies would pass on the tax to consumers. The tax could add between 20-25 cents...
  • Norway Aims To Ban Sales Of Gas-Powered Vehicles By 2025

    06/06/2016 6:03:44 AM PDT · by rktman · 54 replies
    dailycaller.com ^ | 6/4/2016 | Chris White
    Norway has decided to prohibit the selling of all gasoline-powered cars by 2025, according to Norwegian newspaper Dagens Nćringsliv. The ban, which has received support from political parties on the left and the right, is pegged to be the most aggressive anti-gasoline energy policies of its kind in the world – the irony, of course, is that Norway is one of the largest producers of fossil fuels in the entire world. Norwegians produced and exported in 2013 more than 1.2 million barrels of oil, placing it 14th overall on a list of exporting countries, just below Qatar and Mexico. India...
  • Gas Prices To Remain Low This Summer

    05/31/2016 3:47:11 PM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 31-05-2016 | Geiger
    It’s easy for U.S. drivers to forget the high gas prices in recent years after the ultra-lows seen only months ago, but prices going into the summer months of 2016 are still well below what they were this time last year, and the lowest price heading into the summer months since 2009. Despite a recent uptick in the price per barrel of oil—up $20 since the last week of January 2016—U.S. drivers will still enjoy the low gas prices this summer. The spot price for WTI crude oil is still significantly lower than this time last year, trading today at...
  • 3,000 French Gas Stations Out of Fuel

    05/27/2016 8:44:54 AM PDT · by Lorianne · 25 replies
    NACS ^ | 26 May 2016
    An oil strike has forced around a fourth of the country’s stations to close because of lack of gasoline. ___ Some 3,000 gasoline stations in France—around a fourth of the country’s stations—have had to close because an oil strike has shut off their fuel supply, Telesur reports. For the first time in more than five years, France is dipping into its strategic oil reserves, while unions block refineries. Those stations lucky enough to have fuel are under government orders to restrict the sale of diesel or gasoline to around $30 per customer. Unions are picketing French refineries in protest against...
  • EPA Just Declared War On Millions of Car Owners

    05/25/2016 3:54:04 AM PDT · by IBD editorial writer · 147 replies
    Investor's Business Daily ^ | 5/25/2016 | Staff
    Energy: The EPA’s proposal to increase the amount of ethanol that must be blended into gasoline is a trifecta of regulatory abuse. It will do nothing for the environment, it will do nothing for energy security, and it could wreck millions of car engines
  • gasoline - ingenious marketing

    05/19/2016 3:30:52 PM PDT · by littlebird · 83 replies
    May 18, 2016 | littlebird
    every time I fill up my car, I suspect all the different octane gasoline are exactly the same, 91 octane. The only difference is what it is called (eg. gold) and the price. Gas company puts in the same octane gas, with a little advertising, gets more money by calling it gold or premium plus. It is all marketing. Unsuspecting driver feels better buying higher price gas for their beloved car. Any one likes to comment.
  • Which US States Have The Highest And Lowest Gasoline Taxes

    05/19/2016 6:04:30 PM PDT · by Nachum · 49 replies
    zero hedge ^ | 5/19/16 | tyler durden
    Yesterday we showed something strange: while oil prices have rebounded from multi-year recent lows, gasoline prices have not only rebounded but have done so with a vengeance, sending retail gasoline at the pump is now back to levels last seen just over a year ago, even as WTI (and Brent) is materially lower. As we concluded, "gas prices are unchanged while oil prices are 25% lower." Something did not add up, which prompted some readers to inquire if this was purely a function of higher gasoline taxes.  We don't know the answer, and assume it is a deep secret of America's...
  • EPA seeks to boost ethanol in fuel supply

    05/18/2016 2:26:28 PM PDT · by jazusamo · 43 replies
    The Hill ^ | May 18, 2018 | Timothy Cama
    The Environmental Protection Agency (EPA) wants to increase the amount of ethanol and other biofuels in the nation’s fuel supply. But the volumes proposed Wednesday under the renewable fuel standard (RFS) still fall under targets written into the 2007 law that created the program. That ended up angering both the ethanol industry, which wants more of its product to be mandated, and the oil industry, which wants the program rolled back. The agency plans to mandate that 18.8 billion gallons of biofuels be blended into the country’s gasoline and diesel supply next year. Of that amount, 14.8 billion gallons can...
  • Oil Prices Jump To Six-Month High

    04/28/2016 11:55:35 AM PDT · by bananaman22 · 10 replies
    Oilprice.com ^ | 28-04-2016 | Chemokuurtje
    Oil prices surged to their highest levels in six months on Wednesday as the Fed left interest rates unchanged. WTI jumped by 2.8 percent to $45.29 per barrel and Brent climbed by 3.17 percent to $47.19 per barrel. Those are the highest prices so far in 2016 and the oil markets continue to bet on rising momentum for crude. The Federal Reserve added strength to oil when it announced its decision to leave interest rates unchanged, a move that caused the dollar to weaken and oil prices to rise. The Fed also softened its language regarding its concerns over the...
  • Huge Fire Erupts at ExxonMobil Refinery Near Houston

    04/08/2016 3:42:52 PM PDT · by bananaman22 · 57 replies
    Oilprice.com ^ | Oh Lord It's A Fire
    An enormous fire erupted an ExxonMobil refinery in Texas on Thursday. The Baytown refinery caught fire, leading to huge black plumes of smoke into the air, visible from downtown Houston. Almost as soon as the fire in the ExxonMobil refinery was extinguished, we got reports of a fire in a refinery belonging to LyondellBasell Industries. CNBC reported that the fire occured in the coker unit of the refinery that can process over 263.000 barrels per day.
  • Why fuel prices will stay low for the next decade

    02/08/2016 12:22:58 PM PST · by nascarnation · 29 replies
    Autoblog ^ | 2/8/16 | Chris Bruce
    The top exec at an oil trading company thinks the era of crude trading at over $100 a barrel might never return, and the stuff could remain between $40 and $60 for as long as the next 10 years. "You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," Ian Taylor, Chief Executive Officer of Vitol Group BV, told Bloomberg. His company is the world's largest independent oil trader. Instead of any significant increase or decrease, the exec believes crude could hit $45 to $50 a barrel in the...
  • Obama Proposes $10 Tax On Each Barrel Of Oil

    02/05/2016 9:54:42 AM PST · by bananaman22 · 48 replies
    Oilprice.com ^ | 05-02-2016 | Barnie
    The Obama administration will reportedly unveil a proposal next week that would place a $10 tax on each barrel of oil produced in the United States. The proposal is part of the President’s budget for fiscal year 2017. The $10 oil tax would raise an estimated $32 billion, and the money would be used to fund an ambitious program of investments in clean energy, mass transit, high-speed rail, self-driving cars, light rail, subways, buses, and much more. The investments could total $300 billion in new spending. The proposal would help bring America’s infrastructure into the 21st century, and provide “a...
  • Tesla's worst nightmare ... cheap gas

    02/03/2016 9:33:06 AM PST · by Signalman · 40 replies
    Tesla (TSLA) stock is down more than 25% so far this year. It hit its lowest level since February 2014 on Wednesday. Wall Street has grown increasingly skeptical about the company in recent weeks. Adam Hull, an analyst with European investment bank Berenberg, initiated coverage on Tesla Wednesday with a sell rating. Pacific Crest analyst Brad Erickson said in a report Tuesday that investors should "avoid" Tesla stock. He cited concerns about sluggish demand for the company's new Model X crossover. And even longtime Tesla bull Adam Jonas of Morgan Stanley, is suddenly feeling a little less optimistic about the...
  • Gas Drops Below $1.50 in Some Areas, and We Haven't Hit Bottom Yet

    02/02/2016 7:28:32 AM PST · by thackney · 49 replies
    NBC News ^ | FEB 2 2016 | MARTHA C. WHITE
    American drivers are now enjoying gasoline prices that haven't been this low since January 2009. Data from the AAA shows that the average annual price for a gallon of gas has been below $2 a gallon for about a month now. Just within the past week, the national average gas price ticked below $1.80 for a gallon of regular gas, a drop of 20 cents just since the beginning of 2016. "I think you have probably another three to four weeks of prices in this area - I think we could drop another nickel or so," said Denton Cinquegrana, chief...
  • Gas Price Hits 47 Cents a Gallon in Michigan After Price War

    01/18/2016 11:00:03 AM PST · by Citizen Zed · 24 replies
    abc news ^ | 1-18-2016 | EMILY SHAPIRO
    The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday. Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today. A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.
  • U.S. retail sales dipped in December; low gasoline prices a key factor

    01/15/2016 8:50:51 AM PST · by thackney · 19 replies
    Fuel Fix ^ | January 15, 2016 | Associated Press
    Americans tapered off from shopping toward the end of the holiday season, while lower gasoline prices cut into overall retail sales in December. The Commerce Department said Friday that retail sales dipped a seasonally adjusted 0.1 percent last month to $448.1 billion after having climbed a solid 0.4 percent in November. The report shows consumer tastes shifting toward restaurants and online shopping. The extra savings from falling gas costs have yet to boost spending much in other retail categories. Sales fell in December at clothing, electronics outlets and general merchandise stores. But those declines were largely offset by spending at...
  • U.S. average gasoline price falls below $2.00 per gallon for first time since 2009

    01/14/2016 5:40:48 AM PST · by thackney · 22 replies
    Energy Information Administration ^ | JANUARY 14, 2016 | Energy Information Administration
    Based on EIA's weekly survey of gasoline prices, the U.S. average retail price for regular gasoline fell to $1.996 per gallon (gal) on January 11, falling below $2.00/gal for the first time since March 23, 2009. The U.S. average retail regular gasoline price had last approached, but not gone below, the $2.00 mark in early 2015. Falling gasoline prices are a result of falling crude oil prices and the seasonal slowdown in gasoline demand. Four of the five regions in the United States currently have averages below $2.00/gal, with the exception of the West Coast, where the retail regular gasoline...
  • Saudi Arabia, UAE lead GCC subsidy reform

    01/14/2016 5:19:14 AM PST · by thackney · 2 replies
    Oil & Gas Journal ^ | 01/11/2016 | OGJ editors
    Saudi Arabia and the United Arab Emirates lead the Gulf Cooperation Council in raising energy prices and cutting subsidies in response to fiscal pressures created by the slump in crude oil prices, according to Arab Petroleum Investments Corp. (APICORP), Dammam, Saudi Arabia. While welcoming the trend as "a step in the right direction, APICORP warns, in a review of reforms introduced so far, that "the path for energy-pricing reform will be long and fraught with risks." Increases in energy prices traditionally kept low by governments reduce household welfare and increase input costs of industries, the group notes. It urged governments...
  • Saudi Arabia To Increase Fuel Prices By 50 Percent

    01/05/2016 4:48:55 AM PST · by thackney · 16 replies
    South Texas News ^ | 1/3/2016 | South Texas News
    Domestic fuels have been heavily subsidized, but Riyadh has been under pressure to bring its spending under control as its budget deficit in 2015 ballooned to Riyal 367 billion due to lower revenue from crude exports. Jadwa estimated the cost of energy subsidies at USD 61 billion this year, of which diesel accounted for USD 23 billion and gasoline for USD 9.5 billion. The deficits represent a sharp turnaround from just a few years ago, before oil prices tumbled in mid-2014. Riyadh maintained high spending this year, and launched a military intervention against Iran-backed rebels in Yemen, by tapping into...
  • Thanks to technology, we’re not going to run out of oil

    01/02/2016 12:41:40 PM PST · by 2ndDivisionVet · 17 replies
    Hot Air ^ | January 2, 2016 | Matt Vespa
    If you read Stephen Moore's column, he noted how the consensus over oil is wrong. We're not running out of oil. In fact, many have been saying we're going to run out since the 1930s: These stupid predictions of the end of oil have been going on for most of the last century. Just over 100 years ago, the U.S. Bureau of Mines estimated total future production at 6 billion barrels, yet we've produced more than 20times that amount. In 1939 the Department of the Interior predicted U.S. oil supplies would last 13 years. I could go on. The folks...
  • Houston gasoline average dips below $1.75 a gallon

    12/29/2015 9:54:41 AM PST · by thackney · 23 replies
    Fuel Fix ^ | December 29, 2015 | Jordan Blum
    The national average for a gallon of gasoline is holding steady right at $2, but the average price in the Houston area dipped below $1.75 a gallon this week, according to survey data from GasBuddy. The Houston average for regular unleaded ticked down to $1.73 this week -- the lowest since early 2009 -- while the statewide average is just slightly higher at $1.76 a gallon. Gasoline prices have plummeted so much this year because of the low price of U.S. crude oil, which is currently hovering above $37 a barrel, and the global glut of oil supply flooding the...
  • Oil refiners blame California regulations, import issues and refinery closure for high gas prices

    12/18/2015 4:52:49 AM PST · by thackney · 34 replies
    LA Times ^ | Dec 16, 2015 | Ivan Penn
    Clifornia's stubbornly high gasoline prices in 2015 resulted from state regulations, trouble with imports and an outage at a major refinery, the oil refining industry told regulators Wednesday. Speaking to the state Petroleum Market Advisory Committee for the first time since expensive California gasoline brought huge profits to oil refineries this year, the Western States Petroleum Assn. said the unusually large gap between the state's average price for a gallon of regular gas and the national average involved matters out of the oil refinery industry's control. "Clearly, there is a regulatory component for the situation that occurred this year," said...
  • Recent trends in net oil import dependence vary by region, This Week in Petroleum

    12/17/2015 6:36:30 AM PST · by thackney
    Energy Information Administration ^ | December 16, 2015 | Energy Information Administration
    Net imports accounted for 26.5% of total petroleum and other liquid fuels consumed in the United States in 2014, the lowest percentage since 1971. Data through the first nine months of 2015 indicate a further reduction of net imports, averaging 24.6% of total consumption of petroleum and other liquid fuels. Increased U.S. crude oil production has replaced some crude oil imports, while increased refinery runs and global demand growth for petroleum products resulted in increased U.S. petroleum product exports. As a result, the United States remains a net importer of crude oil but less so, and is increasingly a net...
  • Thank Fracking (But Only on Private Land) For Low Gas Prices

    12/14/2015 10:06:52 AM PST · by MichCapCon · 5 replies
    Michigan Capitol Confidential ^ | 12/13/2015 | Tom Gantert
    The state of Michigan is enjoying low gas prices (and on Nov. 30 had the lowest prices at the pump in the nation), something analysts are saying can be attributed in part to the increased production of oil in the U.S. Crude oil production in the U.S. has increased 63 percent from 5.4 million barrels a day in 2009 to 8.7 million barrels a day in 2014. That’s the most production on U.S. soil since 1986, according to the Energy Information Administration. That increase in domestic oil production can be attributed to hydraulic fracturing, commonly referred to as “fracking.” That...
  • Nationwide gasoline average may finally dip below $2 a gallon

    12/14/2015 7:45:46 AM PST · by thackney · 26 replies
    Fuel Fix ^ | December 14, 2015 | Jordan Blum PRINT
    Gasoline prices in Houston and nationwide are the lowest in seven years and should dip lower throughout much of the winter, according to GasBuddy survey data. The national average is stubbornly hovering at $2.01 a gallon for regular unleaded gasoline, while the Houston area's average is down all the way to $1.77 a gallon -- the lowest since a brief plunge during the Great Recession at the end of 2008 and early 2009. The Houston average is down 2.4 cents since last week. The overall Texas average is $1.80 a gallon, GasBuddy data notes. U.S. oil prices at $35 a...
  • Pemex launches in Houston with first gas station outside of Mexico

    12/04/2015 4:23:55 AM PST · by thackney · 33 replies
    Fuel Fix ^ | December 3, 2015 | Jordan Blum
    Mexico’s national oil company launched its first gasoline station outside of the country’s borders on Thursday in Houston, the first of several stations planned for the city. After Mexico opened its borders to foreign investment in the country’s oil fields in 2014, state-owned Petróleos Mexicanos, know as Pemex, has started to test its brand strength by competing in the U.S., with that effort beginning in Houston, said José Manuel Carrera Panizzo, the company’s chief of alliances and new business development. “We want to be put to the toughest test,” Carrera said of the competitive Texas gasoline market. “We’re trying to...
  • Crude oil storage capacity and inventories have increased in Cushing, Oklahoma and PADD 3 since Sept

    12/02/2015 12:07:15 PM PST · by thackney · 18 replies
    Energy Information Administration ^ | December 2, 2015 | Energy Information Administration
    Commercial crude oil inventories in Cushing, Oklahoma (located in Petroleum Administration for Defense District, or PADD, 2) and the Gulf Coast (PADD 3) totaled a record high 309.4 million barrels as of the week ending November 27 (Figure 1). Based on the recently released storage capacity and line fill data in the September Petroleum Supply Monthly (PSM), EIA estimates 70.2% utilization of working crude oil storage capacity in Cushing, Oklahoma and PADD 3 on a combined basis. This utilization level is only slightly below the record set in the week ending April 24 of this year. While often assessed separately,...
  • Gas prices down for 25 straight days

    12/01/2015 9:37:21 AM PST · by Responsibility2nd · 21 replies
    UPI ^ | 12/01/2015 | By Daniel J. Graeber
    WASHINGTON, Dec. 1 (UPI) -- For 25 days in a row, U.S. drivers have seen the retail price for gasoline fall and that should be the prevailing trend through year's end, AAA reports. The motor club reports a national average retail price for a gallon of regular unleaded gasoline at $2.04, a fraction of a cent less than Monday and 15 cents, or 6.7 percent, less than one month ago. In a weekly report on the retail sector, AAA said the end to an unusually busy season of refinery maintenance, largely in the Great Lakes states, and slumping demand are...
  • EPA boosts amount of ethanol in gasoline supply

    11/30/2015 9:57:05 PM PST · by Olog-hai · 57 replies
    Associated Press ^ | Nov 30, 2015 3:10 PM EST | Mary Clare Jalonick
    The Obama administration is boosting the amount of corn-based ethanol and other renewable fuels in the U.S. gasoline supply despite sustained opposition by an unusual alliance of oil companies, environmentalists and some GOP presidential candidates. The Environmental Protection Agency on Monday issued a final rule designed to increase production of ethanol to be blended with gasoline through 2016, a decision that could reverberate in Iowa's crucial presidential caucuses. The agency said it will require more than 18 billion gallons of renewable fuels in 2016, most of it ethanol. The amount is less than was set in a 2007 renewable fuels...
  • Why do you never see gasoline taxes itemized on your receipt? The answer will shock you

    11/27/2015 8:00:49 AM PST · by SeekAndFind · 45 replies
    American Thinker ^ | 11/27/2015 | Michael Bargo Jr.
    In April 2014, I suddenly realized that when you buy gasoline, the receipt does not list all the different taxes you have to pay.  So I emailed the Illinois Policy Institute (https://www.illinoispolicy.org) and asked them to make up a facsimile of a gas receipt.  Here's what they came up with, and they featured it in a story on their website.  Turns out a gallon of gas in Chicago has eight taxes on it.  In Park Ridge adds two cents more.  (I think today they are higher.)  I went to a neighborhood gas station – the owner was a nice...
  • Detroit man, 91, beaten, doused with gasoline and set on fire in homicide (headline shortened)

    11/24/2015 6:42:14 PM PST · by ConservativeStatement · 18 replies
    New York Daily News ^ | November 23, 2015 | Tobias Salinger
    A 91-year-old man was beaten, covered with gasoline and set on fire in a homicide in northwest Detroit early Monday, police said. Officers and firefighters discovered Paul Monchnik's body when witnesses reported the blaze at the retired TV repairman’s Bentler Court home around 3 a.m., officials with the Detroit Police Department told WJBK-TV.
  • American forces to arrive in Syria 'very soon'

    11/22/2015 10:07:15 PM PST · by Mr. M.J.B. · 34 replies
    Arutz Sheva ^ | 11/23/2015 | Staff
    Dozens of American special operations forces will arrive in Syria "very soon," as promised by President Barack Obama's administration, a senior official said Sunday.
  • Ethanol loses its few friends: Even Dr. Ben Carson has backed away from subsidies and mandates

    11/21/2015 1:54:16 PM PST · by george76 · 50 replies
    CFACT ^ | November 17, 2015 | Marita Noon
    in a major policy reversal, Carson .. no longer supports subsidies for any industry, including U.S. ethanol producers ... Plainly irritated, the ethanol industry shot back immediately, saying it receives no government subsidies. But it neglected to mention a very important fact. Instead of subsidies, ethanol producers get something better: a mandate that orders refiners to blend ethanol into motor fuels which forces consumers to buy their product. A federally guaranteed market beats a subsidy every time. The ethanol industry also benefits indirectly from agriculture programs that support farmers who grow corn for ethanol ... In attempt to push more...
  • Gasoline prices are back on the decline, despite global terrorism concerns

    11/16/2015 2:40:00 PM PST · by thackney · 30 replies
    Fuel Fix ^ | November 16, 2015 | Jordan Blum
    Houston-area gasoline prices are back on the decline along with the price of oil, despite some global concerns about the reactions of terrorism in Paris and Beirut affecting markets. Average retail prices on Monday for regular unleaded gasoline dipped by 3 cents from last week down to $1.91 for the Houston area and $1.92 for Texas as a whole, according to GasBuddy's daily survey data. In Houston, prices are 78 cents lower than the same time last year. Nationwide, gasoline fell by 6 cents down to an average of $2.15 a gallon. The drop in gasoline costs come one week...
  • Before recent transfer, Highway Trust Fund had reached its lowest level in years

    11/10/2015 6:02:09 AM PST · by thackney · 18 replies
    Energy Information Administration ^ | NOVEMBER 10, 2015 | Energy Information Administration
    Earlier this year, the Highway Trust Fund (HTF) reached its lowest level in decades, ending July at $6.1 billion dollars. A congressionally approved transfer of more than $8 billion boosted the fund's balance to end the fiscal year (September 30) at $12 billion, but that is still the second-lowest year-end level since 1984. Construction of the U.S. Interstate Highway System began in 1956. Extensions brought the total length of the system to 47,856 miles by 2013. Maintenance of this highway system and some new road construction is financed by the HTF, which receives revenue from taxes on gasoline and diesel...
  • Volkswagen also lied about its gas-powered cars

    11/04/2015 5:39:00 AM PST · by thackney · 29 replies
    engadget. ^ | 11/3/2015 | Jessica Conditt
    Volkswagen admitted in September that it used defeat devices aimed at fooling emissions tests in 11 million of its diesel vehicles -- but now its gasoline models are implicated in the scandal as well. On Tuesday, Volkswagen reported that it understated the level of carbon dioxide emissions of about 800,000 vehicles, including gasoline-powered models. This is the first confirmation that some of Volkswagen's gasoline-run vehicles do in fact exceed carbon dioxide emissions. The company didn't provide details in today's revelation, but it said the conclusion comes after conducting internal emissions tests. Volkswagen reported its findings after the markets in Europe...
  • Next Few Weeks Will Reveal Full Extent Of Oil Industry Suffering

    10/27/2015 8:11:37 AM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 27-10-2015 | oilmajor
    Get ready for some bad news and red ink. With the bulk of quarterly earnings reports in the energy industry yet to be announced, there are already $6.5 billion worth of asset write-downs, according to Bloomberg. And that could be just the tip of the iceberg. A Barclays’ assessment last week predicted $20 billion in impairment charges from just six companies. Write-downs occur when the expected future cash flow from an asset falls sufficiently that a company has to report that the asset has lost some of its value. With oil prices half of what they were from mid-2014, oil...
  • Big Oil Rolls Out Al Gore to Torpedo Ethanol

    10/19/2015 5:31:01 AM PDT · by thackney · 92 replies
    Yahoo Finance ^ | October 16, 2015 | Mark Drajem
    Climate change has a new evangelist: Big oil. In its bid to roll back government mandates for the use of biofuels, petroleum producers have run out a series of arguments: It harms engines; it raises food costs; it’s bad for boats; and the mandate is government interference in the economy. To persuade President Barack Obama to abandon ethanol, the oil industry and its allies will try a new television advertising pitch, starting today: Ethanol is worse for the climate than gasoline. “Mandating corn for ethanol doubles greenhouse-gas emissions compared to gasoline over 30 years,” according to a new television advertisement...
  • Toyota aims to nearly eliminate gasoline cars by 2050

    10/15/2015 2:34:20 PM PDT · by SeekAndFind · 33 replies
    Fox News ^ | 10/15/2015
    Toyota, under ambitious environmental targets, is aiming to sell hardly any regular gasoline vehicles by 2050, only hybrids and fuel cells, to radically reduce emissions. The automaker promised to involve governments, affiliated companies and other "stakeholders" in its push to reduce average emissions from Toyota cars by 90 percent by about 2050, compared with 2010 levels. Electric cars weren't part of their vision, outlined by top Toyota Motor Corp. officials at a Tokyo museum on Wednesday, striking a contrast with rivals such as Nissan Motor Co., which has banked on that zero-emissions technology. Toyota's commitments come at a time when...
  • Gasoline prices in week before Labor Day lowest in 11 years

    09/07/2015 7:05:40 AM PDT · by thackney · 30 replies
    Energy Information Administration ^ | SEPTEMBER 4, 2015 | Energy Information Administration
    The U.S. average retail price for regular gasoline was $2.51/gallon (g) on August 31, the lowest price for the Monday before Labor Day since 2004, and 95˘/g lower than the same time last year. Declines in crude oil prices are the main driver behind falling U.S. gasoline prices. Lower crude oil prices reflect concerns about economic growth in emerging markets, expectations of higher oil exports from Iran, and continuing actual and expected growth in global crude oil inventories. The U.S. average retail gasoline price increased 47˘/g since the last week of January, when it was $2.04/g, driven by rising crude...
  • Senior Western official: Links between Turkey and ISIS are now 'undeniable'

    07/29/2015 6:53:49 AM PDT · by McGruff · 12 replies
    Yahoo News ^ | 7/28/2015 | Natasha Bertrand
    A US-led raid on the compound housing the Islamic State's "chief financial officer" produced evidence that Turkish officials directly dealt with ranking ISIS members, Martin Chulov of the Guardian reported recently. The officer killed in the raid, Islamic State official Abu Sayyaf, was responsible for directing the terror army's oil and gas operations in Syria. The Islamic State (aka ISIS, ISIL, or Daesh) earns up to $10 million a month selling oil on black markets.
  • Ramp up delayed for Exxon Mobil’s Torrance refinery

    09/02/2015 4:43:14 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | September 1, 2015 | Jordan Blum
    The potential ramp up of Exxon Mobil’s massive refinery in Torrance, California will be delayed after a state regulatory hearing on the matter was pushed back indefinitely. The South Coast Air Quality Management District said it delayed the hearing scheduled for Wednesday morning to further study the matter and ensure the health of residents living near the Torrance refinery is protected when the refinery increases production. No new date has been set. Partly because of the pinch on refining, California is coping with the highest gasoline prices in the nation at an average of $3.35 a gallon on Sunday, compared...
  • The Contains 10% Ethanol stickers have been removed from Gas Pumps

    09/01/2015 6:41:56 AM PDT · by Ouderkirk · 61 replies
    9/1/2015 | self
    I bought gas last night and noticed that the stickers on the pumps that states "contains 10% ethanol" have been removed from the gas pumps in my area. Meaning that they can put E15 in there without notice. Be on the lookout for the removal of these stickers at you local dealer, and don't purchase gasoline at stations that don't have the 10% sticker affixed or the ethanol free.
  • Gasoline prices hit 11-year seasonal low

    08/25/2015 5:10:32 AM PDT · by thackney · 23 replies
    Fuel Fix ^ | August 24, 2015 | Jordan Blum
    Gasoline prices hit an 11-year seasonal low Monday, and gas will continue to drop along with the falling price of U.S. oil that is now just more than $38 per barrel, according to AAA. Monday’s national average price of gasoline is $2.59 per gallon, which is the lowest average for late August since 2004, AAA stated, despite record-high demand and ongoing refinery problems. The Houston area averaged a lower $2.33 a gallon, according to GasBuddy’s daily survey of 2,559 gas outlets in Houston. AAA is projecting gas prices will drop below $2 a gallon nationwide on average by late December...