Oil Prices Rise on Concerns About Iran

Oil prices rose Thursday on concerns about possible supply disruptions as a U.N. deadline on Iran's nuclear program arrived.

Light sweet crude for October delivery increased 37 cents to $70.40 a barrel in afternoon Asian electronic trading on the New York Mercantile Exchange. story continued

Homebuilder offers free hybrid cars with energy efficient homes

WATSONVILLE, Calif. - A homebuilder looking to unload five new energy-efficient homes in a senior citizen housing development has offered to give away hybrid cars to buyers instead of cutting prices in a sluggish real estate market.

Developer Clarum Homes hopes the freebie Toyota Prius hybrids will help clear out the last unsold homes in the Pajaro Vista development. Other developers around the country have offered incentives including expensive kitchen countertops and appliances to move new homes.

Executives at Clarum, which incorporates solar panels and energy and water conservation features into its homes, said they decided the giveaway will do more for the environment than a price cut.

The first homes in the development for people 55 years old and up were offered for sale in January, and prices were subsequently hiked from $585,000 to $635,000 for the two- and three-bedroom homes.

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Oil Prices Fall Below $70 a Barrel

WASHINGTON — Oil prices fell sharply for the second straight day on Tuesday, dipping below $70 a barrel as Tropical Storm Ernesto veered away from the oil and gas region of the Gulf of Mexico.

"A lot of people were banking on an active tropical (storm) season and so far it has been nonexistent in relation to platforms in the Gulf of Mexico," said James Cordier, president of Liberty Trading in Tampa, Fla.

With economic growth slowing and U.S. crude supplies plentiful, "we're running out of reasons to buy," Cordier added.

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British Airways takes off on boost from falling oil prices

SHARES in British Airways soared by more than 4 per cent yesterday, boosted by lower oil prices, helping to lift the FTSE 100 index briefly back above the 5,900 level in morning trade, before it ended the day up 0.2 per cent at 5,888.3.
The national carrier topped the FTSE 100 risers, climbing 16¼p to 414¼p, as oil prices settled around $70 per barrel after Hurricane Ernesto was downgraded to a tropical storm and was tipped to avoid the oil platforms in the Gulf of Mexico
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E.U. Wants More CO2 Cuts

Carbon dioxide emissions from new cars sold in the European Union have decreased by 12 percent since 1995, said the European Commission on Tuesday.



The annual report on carbon dioxide emissions published by the European Commission noted that emissions from new cars within the EU-15, the first 15 member states including Italy, Germany, and the United Kingdom, have decreased even further.



The report was positive regarding the decrease, but strongly urged car manufacturers to make major additional efforts to meet their agreements with the E.U. to cut average carbon dioxide emissions to 120 grams per kilometer (g/km) in the next four years, a reduction of around 25 percent from 1995 levels.
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Study: Hybrid cars will pay for themselves over time

Some hybrid cars will pay for the premium added to their sticker prices because of high gas prices and tax credits from the U.S. government on the more fuel efficient vehicles, a study released on Tuesday shows.

Hybrid cars and trucks, which get improved mileage in city driving by running on a combination of gas and electric power, cost between $1,200 and $7,000 more than traditional versions of the same vehicles, according to auto Web site www.Edmunds.com.

But a fuel economy study by Edmunds.com showed that the scales were starting to tip in favor of hybrids. "High gas prices and generous tax credits now offset the high sales prices of some hybrids, assuming owners keep their hybrids for a few years," said Alex Rosten, an analyst with Edmunds.com.

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Green cars for the boys in blue

Hydrogen-powered cars are to be used in police patrol fleets following a Scotland Yard order for 117 environmentally-friendly vehicles, it was announced on Saturday.

Manufacturer Honda is still developing the Civic Hybrid cars, with the metropolitan police set to take four of a fleet of 70 due to the Greater London Authority by 2010.

The purchase is part of a drive by Scotland Yard to cut climate change emissions in the face of rising oil prices, and will contribute to a fleet that already includes several cars with hybrid engines, running on a mix of conventional diesel and vegetable oil-based biofuels.
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Hybrid cars become more popular

In the next few years, there probably will be more and more hybrid cars on the road. These cars take their power from electricity as well as gasoline.

Besides the voice activation that controls all of the vehicle’s accessories, some hybrid cars have a navigation system and a smart key system. The smart key system allows drivers to gain access to the vehicle without a key. There is no ignition switch.

A hybrid vehicle's engine is a lot like a normal car's engine. But it has a special electric-hybrid side. On deceleration, the electric motor actually turns into a generator that recharges the batteries for the next acceleration.

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Ford's overlooked hybrid makes new strides

Arguably, one of the best things the Ford Escape Hybrid has going for it is the name recognition that comes from belonging to the popular Escape gang.

That may also be its big drawback.

Since the car-based utility wagon made its debut as a 2001 model, it has been one of Ford's few recent success stories. But as the design has aged, demand has softened. The hybrid arrived as a 2005 model in a dated body.

Further, while gasoline-powered Escapes start below $20,000, the all-wheel-drive hybrid version is some 40 percent more expensive -- $27,820 and up.

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Toyota, Asian Automaker Stocks May Beat U.S. Peers This Half

Aug. 14 (Bloomberg) -- Asia's biggest automakers may regain their lead over American rivals in world stock markets this half as higher oil prices help their more fuel-efficient cars grab a larger share of the U.S. and Chinese markets.

Toyota Motor Corp., Japan's top carmaker, overtook Ford Motor Co. in July to become the second-largest U.S. auto seller. In China, the world's fastest-growing major car market, the two best-selling models are produced by local ventures of Toyota and Hyundai Motor Corp.

``The outlook for the Japanese manufacturers is much more solid than for the U.S. automakers,'' said Marc Van Loo, who helps manage ABN Amro's $150 million Consumer Discretionary Fund in Amsterdam. ``They are much more advanced in the manufacture of environmentally-friendly cars.''
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'Sticky' prices for fuel adhere to your wallet

By JEFF DONN
Associated Press

While U.S. oil companies blame the global oil market for high gasoline prices, a close analysis of pricing suggests it's not so simple: The run-up at the pump also comes from domestic refining, which is largely controlled by Big Oil.

In consultation with economists, the Associated Press examined pricing trends since 1999. It found evidence that:

The portion of gasoline prices tied to refining has ballooned all on its own, apart from oil.
•The suspicion of frustrated drivers is correct: After upward spikes, the price of gasoline drops back more slowly than the price of oil — and someone pockets the difference.
The petroleum industry knows that many drivers are steamed about both its record prices and profits.
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High oil prices fuel biodiesel switch

BIODIESEL is a worldwide phenomenon with multi-million dollar projects sprouting up in US, Europe and Asia.

Its advocates claim that biodiesel - a mixture of any vegetable oils (rapeseed, palm oil, soyabean and others) and petroleum diesel - is environmentally friendly and can be distributed using existing infrastructure.

As economies of scale improve, it could even replace fossil fuels as the world's primary transport energy source.

A Malaysian Palm Oil Board official said with the current biodiesel price of US$700 (RM2,576) a tonne, the industry gets a profit margin of US$200 (RM736).

"Never in the history of palm oil did we get this sort of profit margin. When the oil prices go further up and palm oil prices dip, the better the profit margin," he said.
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Oil and Our Future

Have you ever wondered what would happen if there was another oil shortage. Imagine going to the gas station and being turned away. Imagine paying ten maybe 15 dollars a gallon. Maybe Iran tells the United States no more oil and causes another war, maybe WORLD WAR 3. Its scary but you never know.

That is why we as a nation need to be oil dependent. We need to start producing more vehicles that run on alternative energy. We need to start thinking more energy efficient. I know it will be years before every car you see coming down the street will be run without foreign oil but till that day comes we have to do everything possible to conserve energy. Hybrid cars are a good beginning.

The civic is one of the most fuel efficient hybrid cars. It gives you an estimated 51 miles per gallon on the highway and 49 miles per gallon in the city, and at a price starting at $22,150 its a lot of car for a great price. Included is an advanced technology partial zero emission vehicle rating, so you can save on fuel while enjoying plenty of amenities. Alternatively if your looking for a more spacious hybrid, the Ford Escape is a perfect choice for those who can't live without a sports utility vehicle.

Hopefully in the coming years before we can break away from the ball and chain we call oil, the vehicles we drive will all be hybrids. I guess until then I will do my part, and hope others will follow.


hybrid nation

Car giants to invest $1 billion in hybrid cars

A research alliance consisting of General Motors, BMW and DaimlerChrysler plans to invest over $1 billion in the development of a new hybrid transmission and related systems that backers say will leapfrog the market-leading technology now offered by Toyota.

The three car makers have about 500 engineers who have been working for the past 18 months on the joint development of the next-generation hybrid engine technology, which combines a battery-powered electric motor with a conventional petrol combustion engine, company representatives said today on the sidelines of an industry trade meeting.

The so-called dual-mode hybrid technology that has been under development by the consortium includes an onboard fuel-optimisation computer that determines when and at what speeds the two motors will be used for power and how the on-board battery will be recharged.

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Oil Prices Slide on Shutdown of Pipeline

By MADLEN READ AP Business Writer

NEW YORK Aug 8, 2006 (AP)— Crude oil prices slipped Tuesday after Energy Secretary Samuel Bodman said extra supplies can replace oil lost from the shutdown of a major Alaskan pipeline owned by BP PLC.

The Energy Information Administration, the government's energy statistics arm, said in its short-term energy outlook earlier in the day that, based on BP's statement that recovery would take several months, it expects Alaskan crude oil production to gradually return to full production by February. That would result in the loss of about 50 million barrels of oil over the next six months.

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Oil prices soar as BP shuts US field

OIL prices surged towards record levels yesterday after the discovery of a corroded pipeline caused BP to close the biggest production field in the United States, triggering fears of another spike in the cost of fuel.

The Prudhoe Bay oil field in Alaska will be shut down until repairs are made, cutting output by about 400,000 barrels a day - some 8 per cent of the total US oil production. It is not known how long the repairs will take.Coupled with heightened tension in the Middle East, the drop in supply has raised fears motorists could be paying even more for their petrol. Yesterday's announcement sent the cost of a barrel of oil up to about $76, almost reaching last month's all-time high of $78.


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Saving money with hybrid cars?

The recent discovery of a corroded pipeline caused one of the nation's largest oil fields to shut down.

So what does that mean for the average person? It could mean the price of gas will be going up again and that has most people fed up.

"They're getting sick of the gas companies gouging them. They do it because they can and nobody does anything about it. I think people are fed up with it, at least I know I am," said George Halladay, who's shopping for a car.
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GM's volt-face

Mark Tran / USA 03:03pm

Back in the 1990s, General Motors, the world's largest car maker launched the EV1, a futuristic looking electric car, writes Mark Tran.

I went to Detroit and drove the car for myself as part of a story for the Guardian. It was much more fun to drive than I expected, soon dispelling preconceived notions about the sluggishness of electric cars.

The EV1 had plenty of zip; its powerful acceleration a pleasant surprise. And it was so quiet, eerily so. I came away impressed, but wondered whether it would really catch on
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Edison teams up with Chevron on hydrogen fuel station

By Kevin Smith Staff Writer



ROSEMEAD - Southern California Edison has long been committed to alternative energy sources.

In fact, more than 18 percent of the power the utility delivers to the millions of Californians it serves comes from renewable energy sources, including geothermal, solar, biomass and small hydro power.

And now SCE has partnered with Chevron to build a small-scale hydrogen refueling station at SCE's Rosemead headquarters.

The facility will use electricity to split water, creating hydrogen and oxygen. The hydrogen will be used to power fuel cell electric vehicles, with only water as a byproduct.

Construction of the station is part of the U.S. Department of Energy's national hydrogen fuel cell demonstration program, which is designed to showcase hydrogen and fuel cell technology in real-world applications

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Imperial's Profit Rises 55% on Oil Prices, Tax Gain (Update2)

Aug. 3 (Bloomberg) -- Imperial Oil Ltd., Canada's largest oil company, said second-quarter net income rose 55 percent on higher oil prices and lower taxes.

Profit rose to C$837 million ($743.2 million), or 85 cents a share, from C$539 million, or 52 cents, a year earlier, the Calgary-based company said in a statement. Tax changes in Canada increased earnings by about C$110 million from a year earlier, Imperial said.

It was the second-highest quarterly profit in the company's 126-year history, trailing only the C$1.02 billion earned in the fourth quarter of last year, spokesman Richard O'Farrell said today in a telephone interview.
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High gas prices increasing demand for hybrid cars

Car salesmen say that buyers are asking about a car's gas mileage, even before they talk price. Some brand new hybrid models are hot sellers, and now crossovers are becoming the new SUV's because of their better mileage.A look inside what is called a "crossover vehicle," a little station wagon, and a little SUV. It's becoming as hot as the mini van and the SUV once were. Vice president Gary Tufano of Tufano Motorcar says people are regularly "downsizing." Trading in SUV's for these cars.

"Mostly they're newer SUV's, not the older ten year old vehicles, they're making the decision, 'lets stop this bleeding with gas costs.'"
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