gas prices

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Military at War With Rising Fuel Costs

Pentagon, with hefty budget worries, trying synthetic, greener options

(Newser) - Fuel costs are hitting the US military harder than most, the Wall Street Journal reports, and it's moving forward with efforts to switch to synthetic, and greener, alternatives. Chugging 340,000 barrels of oil per day, the military is the nation's largest consumer; synthetic fuels and massive solar arrays are...

What Europe Can Teach Us About Gas
What Europe Can Teach Us About Gas
Opinion
May 19, 2008 2:04 PM CDT

What Europe Can Teach Us About Gas

Dense, connected Berlin, not car-centric Atlanta, is better model

(Newser) - Gas costs more than $8 a gallon in Germany—a sum that might cause riots in the US but hardly ruffles most Europeans. Their secret is simple, Paul Krugman writes in the New York Times: They drive fuel-efficient cars, and they don’t drive very often. America can easily imitate...

Prius: 1M and Counting
 Prius: 1M and Counting 
May 15, 2008 3:51 PM CDT

Prius: 1M and Counting

Toyota hybrid's sales into seven digits, and company sees no slowdown

(Newser) - The Toyota Prius is a now 1 million units strong, and the landmark gas-electric hybrid, introduced in 1997, is poised to keep growing, the AP reports. Toyota said today it expects to be selling a million a year by sometime after 2010; what’s more, the company claims 4.5...

Lucky Alaska First to Hit $4 Gas
 Lucky Alaska First to Hit $4 Gas 
May 15, 2008 11:03 AM CDT

Lucky Alaska First to Hit $4 Gas

Others could join '$4 club' after Memorial Day

(Newser) - It's here. Alaska has the painful distinction of becoming the first state where gas is selling for an average of $4 a gallon, Reuters reports. The average for the rest of the US is hovering at $3.76, but Connecticut, California, New York, and Illinois could all join Alaska in...

Quick Iraq Exit Would Trigger New 9/11: Bush

It would 'embolden' US enemies, prez says

(Newser) - A withdrawal from Iraq next year would be a disaster that would likely trigger another 9/11, President Bush warns in an interview with Politico. "It would shake everybody's nerves. It would embolden the very same people we're trying to defeat" and "would eventually lead to another attack on...

Old-School Pumps Can't Register New Gas Prices

Mechanical dials can't register prices over $4

(Newser) - With gas at nearly $4 a gallon, thousands of American gas station owners foresee trouble—because their old-time pumps can't price gas at higher than $3.99. "In small towns, where you don't have the volume, there's no way you can afford to pay for the replacements for these...

More Is Less: High Gas Equals Quicker Drives in LA

Commuters, traffic reporters say famously congested freeways a bit less so

(Newser) - Sure, gas prices are unreasonable and the economy is hurting, but, the Los Angeles Times reports, at least now the infamous traffic isn't so bad. Hard data shows that traffic may be thinning out along LA’s freeways; accidents and commute times are also falling. Talking with local drivers, the...

High Gas Prices Fuel Transit Boom

Mass transit winning converts across the country as gas price soars

(Newser) - The soaring price of gas is driving people across America out of their cars and onto mass transit, the New York Times reports. Buses and trains are up 5% or more in cities like Boston and New York, where mass transit is already a popular alternative, but the biggest leap...

OPEC May Boost Oil Output to Ease Prices

Cartel may meet early and backpedal on current policy

(Newser) - As crude hit $125 a barrel today, one OPEC member said the cartel may boost oil production to relieve prices, the New York Times reports. The move would conflict with OPEC's public stand that speculators, not oil supplies, have been keeping prices high. “We would consider among other options...

Oil Lobby Pumps Cash Into Image Campaign

Industry fights back as rising gas prices damage its rep

(Newser) - As gas prices skyrocket—and oil company profits soar along with them—the chief US oil lobby has launched a massive campaign to improve its public image, the Washington Post reports. The American Petroleum Institute is spending millions on newspaper ads, a traveling museum, and tours for bloggers, to counter...

Oil Breaks $125 a Barrel
 Oil Breaks $125 a Barrel 
May 9, 2008 8:46 AM CDT

Oil Breaks $125 a Barrel

And heads for $126 as weakening dollar opens investors' wallets

(Newser) - Oil climbed over $125 a barrel today, just ahead of the US driving season and propelled by investors jumping at a weaker dollar, the AP reports. Light, sweet crude for June rose to $125.98 on the New York Mercantile Exchange today, later dropping to $124.86 in Europe.

Motorists Brake for Fuel Prices

Drivers try to get savings any way they can, even if it means slowing down

(Newser) - It’s common knowledge that driving a little slower makes more efficient use of gas. And with fuel prices sky-high, some drivers are actually throttling back in hopes of feeling less pain at the pump, the AP reports. Vacation drivers and truckers alike are heeding experts’ advice that cars are...

'Super-Spike' Could Drive Oil to $200

Experts say $150 or more isn't out of the question as world demand grows.

(Newser) - A “super-spike” could push oil beyond $150 a barrel by October, the highest it been in more than 135 years, experts say. That would drive the price at the pump past $4.50 a gallon and trim US economic output 3.3% in the 2 years following, reports the...

Disney Bucks Economy, Sees Net Rise 22% in Q2
Disney Bucks Economy,
Sees Net Rise 22% in Q2
Earnings Report
May 7, 2008 7:26 AM CDT

Disney Bucks Economy, Sees Net Rise 22% in Q2

Recession, gas prices can't stop entertainment giant's gains

(Newser) - Even rising gas prices couldn’t dent Disney’s second-quarter earnings. The company’s theme park earnings climbed 33%, helping push its overall net up 22% from a year ago, reports the Wall Street Journal. Disney also recorded a 61% jump in earnings from its movie arm and a 14%...

Barack Bounces Back From Pastor Flap

Most approve of his handling of controversy

(Newser) - Barack Obama appears to be recovering—mostly—from the furor over his former pastor's incendiary remarks, according to the latest CBS News/New York Times poll. His lead over Hillary Clinton has increased from 8 points to 12 points—50% to 38%—among Democratic primary voters, who also approve of how...

House Scuttles Gas Tax Holiday Proposal

Dems warn proposal will be DOA in the House

(Newser) - The gas tax holiday backed by Hillary Clinton and John McCain will be DOA in the House, lawmakers have warned, reports the Hill. The measure has been left off House energy proposals that could be tacked onto the Iraq spending bill because "there’s no reason to believe that...

Economists Slam Clinton, McCain Gas-Tax Cut

Oil companies would be winners in plan that fails 'Economics 101'

(Newser) - Economists and a leading House Democrat are blasting the gas-tax cut proposed by both John McCain and Hillary Clinton, the Washington Post reports. Economists say most of the savings would flow right to the oil companies' bottom line, rather than into voters’ pockets. That's because the tax vacation would raise...

Bush Blames Congress for Economic Sloth

Urges housing, energy action, chides Dems' 'political statements'

(Newser) - President Bush conceded that “it’s a very slow economy” one day ahead of possibly ugly GDP numbers, the New York Times reports, and said Congress is dragging its feet on gas prices, the mortgage crisis, farm subsidies and student loans. The Democratic-controlled legislature should be “sending me...

Truckers Protest Fuel Prices
 Truckers Protest Fuel Prices 
Apr 28, 2008 4:10 PM CDT

Truckers Protest Fuel Prices

List of demands includes end to oil-company subsidies

(Newser) - Truckers led a convoy of vehicles around the National Mall today in Washington to protest high fuel prices, the AP reports. Drivers from the group Truckers and Citizens United converged on DC for an afternoon rally to try to influence Congress to end oil-company subsidies, supplement supply with oil from...

Restaurants, Retailers Gulp as Consumers Tighten Belts

Penny pinchers shifting to generics, eating in

(Newser) - The rising price of staples like milk and gas, coupled with layoffs and flat-lining wages, is creating a nation of penny-pinching consumers, the New York Times reports. Industry is taking notice as buyers substitute generic brands for top-of-the-line products and skip eating out at restaurants.

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