Keyword: gasoline

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  • China looks at ending sales of gasoline cars

    09/09/2017 9:53:49 PM PDT · by Olog-hai · 59 replies
    Associated Press ^ | Sep 10, 2017 12:35 AM EDT | Joe McDonald
    China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars. China’s industry ministry is developing a timetable to end production and sale of traditional fuel cars and will promote development of electric technology, state media on Sunday cited a Cabinet official as saying. The reports gave no possible target date, but Beijing is stepping up pressure on automakers to accelerate development of electrics. China is the biggest auto market by number of vehicles sold, giving any policy changes outsize importance for the global industry. A deputy industry minister, Xin Guobin, said at an...
  • (Hurricane) Harvey throws a wrench into U.S. energy engine

    08/28/2017 8:30:34 AM PDT · by Perseverando · 31 replies
    Reuters ^ | August 27, 2017 | Ernest Scheyder and Erwin Seba
    HOUSTON (Reuters) - A hurricane in the heart of the U.S. energy industry is set to curtail near-record U.S. oil production for several weeks, with the impact expected to reverberate throughout the country and across international energy markets. Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding that has knocked out 11 percent of U.S. refining capacity, a quarter of oil production from the U.S. Gulf of Mexico, and closed ports all along the Texas coast. Gasoline futures jumped as much as 7 percent to their highest level in more than two years in early...
  • About 25 percent of U.S. Gulf oil output offline due to Harvey

    08/26/2017 4:58:15 PM PDT · by BenLurkin · 10 replies
    reuters ^ | August 26, 2017 / 11:29 AM / 5 hours ago
    That equates to roughly 428,568 barrels of oil per day out of the roughly 1.75 million bpd pumped from the Gulf. The amount of oil production offline increased from Friday, when roughly 22 percent of output was affected. About 26 percent of Gulf natural gas production is offline, or about 835 million cubic feet per day, BSEE said
  • California should phase out gas-powered cars

    08/08/2017 10:43:37 PM PDT · by 2ndDivisionVet · 80 replies
    The San Francisco Chronicle ^ | August 8, 2017 | Janelle London
    California is a global environmental leader, but it’s falling behind in one key respect: phasing out gasoline cars. Germany, India, Norway and the Netherlands are moving to ban the sale of gas-powered vehicles by or before 2030, and France and the United Kingdom by 2040. Here’s why California should join that list. It would: Fight climate change: Every gallon of gas burned emits 20 pounds of carbon dioxide, the main driver of climate change. Transportation is our biggest source of carbon emissions. Shifting to electric vehicles today would cut tailpipe carbon emissions to zero, and total carbon emissions by 75...
  • All fossil-fuel vehicles will vanish in 8 years

    05/19/2017 6:18:20 PM PDT · by Lorianne · 117 replies
    Financial Post ^ | 16 May 2017 | Ambrose Evans-Pritchard
    No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of the petroleum industry as we have known it for a century. This is the futuristic forecast by Stanford University economist Tony Seba. His report, with the deceptively bland title Rethinking Transportation 2020-2030, has gone viral in green circles and is causing spasms of anxiety in the established industries. Seba’s premise is that people will stop driving altogether. They will switch...
  • Slump at the Gas Pump Continues Ahead of Summer Driving Season

    05/13/2017 2:41:55 AM PDT · by Paul R. · 27 replies
    GasBuddy.com ^ | May 8, 2017 | Patrick DeHaan
    The bulk of the decline in gasoline prices can be thanked on a recent plunge in crude oil prices as concern over weak demand and high supply has offset sentiment about last November’s OPEC production cuts. The number of U.S. rigs drilling stands at 877, a rise of 7 in the last week, but 462 more rigs- 111% more- than a year ago. While OPEC cut oil production, U.S. and Canadian oil companies have filled the gap, leaving OPEC to lose market share. How long the charade continues is up to OPEC, who will decide in a few weeks whether...
  • North Korea: Car users in Pyongyang scrambling to fill up their tanks

    04/22/2017 6:32:32 AM PDT · by topher · 27 replies
    The Telegraph (UK) ^ | April 22, 2017 | AP
    Car users in Pyongyang are scrambling to fill up their tanks as gas stations begin limiting services or even closing amid concerns of a spreading shortage. ...
  • Oil slumps as surprise gasoline build raises supply worries

    04/20/2017 10:26:58 AM PDT · by Berlin_Freeper · 36 replies
    cnbc.com ^ | April 19, 2017 | Reuters
    Oil slumped to a two-week low on Wednesday, after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply. U.S. crude futures settled down $1.97 to $50.44 a barrel, a 3.8 percent drop, the worst-one day decline since March 8, as investors bailed out of long positions in response to the bearish inventory figures.
  • How The Ethanol Mandate Is Killing The American Prairie

    04/14/2017 12:54:16 PM PDT · by Forgotten Amendments · 25 replies
    Investor's Business Daily ^ | 4/13/2017 | William F Shughart II
    America's long war on fossil fuels is destroying the famed American prairie. According to a report by the Organic Consumers Association, 95% of the 240 million acres of prairie land that once blanketed the middle of our country, from Texas to North Dakota, already is gone. Only isolated pockets of prairie tall grass, some 35 million acres set aside for soil and wildlife conservation, remain. And that — largely in the Great Plains — is at risk of being destroyed. Among the factors most responsible for this tragic loss of our prairie heritage is the federal renewable fuel standard, a...
  • California Legislature passes 12-cent gas tax hike to fund transportation infrastructure

    04/08/2017 7:41:30 AM PDT · by 2ndDivisionVet · 48 replies
    The Pasadena Star-News ^ | April 7, 2017 | Christopher Yee, Jeff Horseman and Katy Murphy
    The state Legislature narrowly approved a plan to increase gas taxes and vehicle fees late Thursday, a move expected to raise tens of billions of dollars over the next decade to repair the state’s worn and aging transportation infrastructure. Senate Bill 1, also known as the Road Repair and Accountability Act of 2017, raises the gas excise tax by 12 cents a gallon, with annual adjustments for inflation. Diesel excise taxes are going up 20 cents, while the diesel sales tax will rise from 1.75 to 5.75 percent. Also, a new fee will be charged to vehicles based on their...
  • Obama's EPA moves to preserve gas mileage requirements(and ruin our cars)

    01/14/2017 7:33:06 AM PST · by mtrott · 98 replies
    Fox News Auto/AP ^ | January 13, 2017
    The Environmental Protection Agency moved Friday to cement strict fuel economy requirements that force the auto industry to make new cars and trucks significantly more efficient, a decision that will be difficult for the incoming Trump administration to undo. The EPA said in late November that it had completed a required midterm review of Corporate Average Fuel Economy standards put in place in 2012 and decided they should not be relaxed as requested by the auto industry. The move in the waning days of the Obama administration brought protests from the industry, which accused the agency of playing politics with...
  • Mexico Plunges into Fresh Crisis as Fury Swells over Gas Prices

    01/02/2017 6:03:05 AM PST · by dynachrome · 12 replies
    Telesurtv ^ | 12-31-16 | unattributed
    The government plans to end subsidies and let the market dictate prices in March, but the already-strained Mexican people will feel the pinch at the pump before they start falling. The finance ministry announced Tuesday that the price of gasoline would increase by as much as 20.1 percent to 88 cents per liter on Jan. 1, while diesel would rise by 16.5 percent to 83 cents. The price ceiling will be adjusted daily starting Feb. 18, before letting supply and demand determine them in March. Around 100 protestors blocked a service station in the Pacific Coast resort of Acapulco on...
  • Pipeline Outage Could Lead To Another Gasoline Price Spike

    10/05/2016 4:10:33 PM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 10-05-2016 | Southeast seasoning
    Gasoline prices in the U.S. Southeast spiked in September after a major gasoline pipeline suffered a leak and was forced to temporarily shut down. The Southeast may see gasoline prices rise again because the problems with the pipeline are not over. The Colonial Pipeline is a 2.5 million barrel per day system that carries refined products such as gasoline, diesel, jet fuel and heating oil. It consists of a massive 5,500 miles of pipeline, traveling from the Gulf Coast up to the mid-Atlantic. Fuels refined along the Gulf Coast can reach as far as New York Harbor.
  • Company Restarts Gasoline Pipeline After Leak in Alabama

    09/23/2016 9:11:38 AM PDT · by Alas Babylon! · 25 replies
    Kiii TV ^ | September 23, 2016 | Video report
    Colonial pipeline is investigating what caused a pipeline to leak nearly 336,000 gallons of gasoline into a man-made retention pond. That leak was discovered back on September 9th near Helena, Alabama after state workers noticed a strong smell of gas. The shutdown pipeline caused rising fuel prices amid gas shortages across the South. Investigators say the broke portion, built in 1963, has since been repaired. A preliminary report does not identify the cause of the break as the federal investigation continues.
  • Alabama pipeline leak: What we know so far about the spill, gas shortages and more

    09/18/2016 5:43:49 PM PDT · by servo1969 · 55 replies
    AL.com ^ | 9-18-2016 | Dennis Pillion
    On the morning of Sept. 9, an inspector with the Alabama Surface Mining Commission was performing a routine monthly check of an old coal mine in Shelby County when he noticed "a strong odor of gasoline" as well as a sheen on the surface of one of the retention ponds. The gasoline he was smelling came from Colonial Pipeline's Line 1, an underground pipeline three feet in diameter that normally pushes 1.3 million barrels of gasoline per day from refineries in Houston to distribution centers across the Southeast and along the eastern seaboard. That 36-inch line, built in 1963, has...
  • Alabama, Tennessee, & Georgia Declare States Of Emergency As Gas Shortages Loom - Leak

    09/17/2016 4:17:14 PM PDT · by blam · 64 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden September 17, 2016 As Native Americans protesters face arrest in North Dakota for blocking the construction of the Dakota Access Pipeline, TheAntiMedia's Carey Wedler reports a gasoline pipeline spill is currently unfolding in the South. The leak has prompted Alabama Gov. Robert Bentley, Tennessee Gov. Bill Haslam, and Georgia Gov. Nathan Deal to declare states of emergency. The Colonial Pipeline, which runs from Houston to New York, began leaking on September 9, spilling 250,000 gallons of gasoline, or 6,000 barrels. The pipeline was built in 1962, and the current leak in Helena, Alabama, is the largest one Colonial...
  • East Coast faces gas shortages, price hikes after pipeline leak

    09/16/2016 2:43:44 PM PDT · by dynachrome · 28 replies
    CNN ^ | 9-16-16 | Charles Riley
    A leak has caused the closure of a crucial pipeline that carries gasoline to the eastern United States, a disruption that threatens to drive up prices and leave service stations without fuel to sell. A section of the Colonial Pipeline, which runs from Houston to New York, has been closed since Sept. 9 after a spill of roughly 250,000 gallons was discovered in rural Shelby County, Ala. The major pipeline, one pipe of which has been severed, provides gasoline for an estimated 50 million people on the East Coast each day, according to company estimates. The cause of the leak...
  • Exclusive: Venezuela's oil imports slump on payment woes, economic meltdown

    08/28/2016 9:18:41 PM PDT · by 2ndDivisionVet · 37 replies
    Reuters ^ | August 25, 2016 | Marianna Parraga
    Venezuela has not been able to import all the crude and fuel it needs this year to cover shortfalls at oilfields and refineries as state-run PDVSA struggles to pay suppliers on time, according to trade sources and internal company data seen exclusively by Reuters. The decline is the largest in five years as the worst economic crisis in decades undermines PDVSA's ability to buy oil imports, which fell 21 percent in the first seven months of this year to 154,465 barrels per day (bpd), the data showed. Venezuela is also on track to suffer its steepest annual oil output drop...
  • Boom, Balance Or Bust: What's Next For Oil?

    08/23/2016 9:27:28 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 23-08-2016 | Nick
    Oil prices have surged more than 20 percent in the last two weeks but there is quite a bit of disagreement over whether or not the rally can continue. The spark that created the bull market was the decision from OPEC to hold an unscheduled meeting in Algiers in September to discuss a production freeze. On the one hand, it would seem odd that OPEC members would once again go through all the motions and trouble of holding another meeting without a high degree of confidence that this time will be different. On the other hand, it has been years...
  • U.S. Gasoline Consumption On Target For A Record Year

    08/22/2016 2:33:38 PM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 22-08-2016 | Rob
    In last month’s Short Term Energy Outlook (STEO), the Energy Information Administration (EIA) projected that it now expects record U.S. gasoline consumption this year This projected increase follows several years of lower gasoline demand that resulted from persistently rising gasoline prices over the past decade. From 2002 to 2012 the average retail price of gasoline rose nearly every year, from an annual average of $1.39/gal in 2002 to $3.68/gal in 2012. Consumers responded to these higher prices in multiple ways, which cumulatively led to falling gasoline demand. Some even suggested that U.S. gasoline demand had permanently peaked, as a result...