For most of the 20th Century, the United States was the world’s largest producer of petroleum. U.S. oil fields provided not only all our domestic needs; they generated a surplus for export. U.S. oil fueled the Allied armies during WWII. But U.S. domestic production peaked in the early 1970s and has declined ever since, while our consumption has continued to climb steeply. The shortfall has been made up by imported oil.
Americans use a lot of oil. Although we constitute only 5% of the world’s population, we consume 25% of global oil production. America epitomizes the petroleum-dependent lifestyle.
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In the second half of May, Kelley Blue Book surveyed 753 prospective car buyers and found that 87 percent expect gas prices to rise sharply. How is that affecting their car buying habits? According to Kelley, shoppers are looking at smaller cars with smaller engines.
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After GM filed for bankruptcy and the US government took a 60 percent ownership position of the troubled company, Venezuelan President Hugo Chavez quipped, "Hey, Obama has just nationalized nothing more and nothing less than General Motors. Comrade Obama! Fidel, careful or we are going to end up to his right.” Chavez’s provocative statement wasn’t the first time that critics have accused the Obama Administration of playing a heavy hand with the auto industry.
Industry analysts are beginning to acknowledge the most significant constraint on deploying advanced technology fuel-efficient: the slow rate of turning over the fleet of existing cars.
If you thought hybrids were only for tree-huggers, latte-sippers and peaceniks, consider a report released Monday by the Center for Naval Analyses. In the report, 12 high-ranking retired US military officers, representing four of the five branches of the US military, urged the Pentagon to take a leading role in eliminating the United States' dependence on oil
As we approach the one-year anniversary of $4 gas, once again prices at the pumps are on the rise. In the past week, the national average price for regular gasoline surged more than 16 cents to $2.24 per gallon. That’s mild compared to last year’s push up and over $4—where it remained for a six-week period before taking a tumble. So, what do experts make of the current run at the pumps, and the jump in price of a barrel of oil to $60?
When gas prices spiked above $4 last summer, Toyota couldn’t keep up with demand for the gas-electric Prius. When the company begins selling the third-generation 2010 Toyota Prius in a few weeks, the price will be about half the level of last year’s peak. Does this worry Jim Lentz, president of Toyota Motor Sales USA? That’s what we asked him last month in Detroit. See our exclusive video interview.
President Obama today signed a presidential memorandum requesting the Department Of Energy to set higher efficiency standards for everyday household appliances. He spoke at the Energy Department to an audience of about 220 staffers. Mr. Obama also spent several minutes speaking about the importance of producing more fuel-efficient vehicles, including plug-in hybrids.
The next generation of hybrid and electric cars depends on lithium ion batteries—but the world’s biggest supply of lithium is controlled by a socialist country with no great love for America.
