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NEWS ABOUT: gas

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US Gas Supplies Hit 2-Year Low

Drop coincides with end of summer vacation season

(Newser) - The nation's gas inventory slipped last week to its lowest level since Hurricane Katrina decimated stockpiles 2 years ago, but officials aren't worried. "We're at the end of the summer and demand should start declining over the next several weeks," one analyst told Reuters. The current supply is... More »

Bush Dismisses Gas Tax Hike for Bridge Repair

Prez blasts Congress, warns Iran over Iraq, asks Sarkozy to lunch

(Newser) - President Bush today rejected a gasoline tax increase that would raise money for bridge repairs across the country, saying Congress should reevaluate the way it allocates tax revenues now. In a wide-ranging press conference before departing for vacation in Maine, he continued to defend Alberto Gonzales and fielded numerous questions... More »

Price Cuts Ruin Zimbabwe's Economy

Mugabe's radical 'solution' to spiraling inflation backfires

(Newser) - A radical attempt to curb Zimbabwe's hyper-inflation by cutting prices up to 50% has backfired on President Robert Mugabe's government, which is now teetering on the brink of collapse, the New York Times reports. Store shelves are empty; bread, sugar, and cornmeal, the staples of Zimbabwean's diet, are depleted. More »

Dallas Gas Explosion Injures 3

Truck fire ignites massive blasts; major highways shut down

(Newser) - At least three people were injured today after a stock of acetylene tanks and 18-wheelers exploded at a gas plant south of downtown Dallas, sending thick plumes of black smoke and chunks of debris flying into the air. Two people suffered burns and a third sustained a back injury; all... More »

Eco-Vandals Trash Hummer

Attack on $38K gas-guzzler called a 'hate crime'

(Newser) - A 32-year-old man in Northwest DC woke to find his dream car—a $38,000 Hummer—with slashed tires, smashed windows, and a message carved into its body: "FOR THE ENVIRON." In a green-friendly neighborhood dominated by hybrids, two masked eco-extremists decided to punish Gareth Groves by mutilating... More »

Russia Stakes Claim to Oil-Rich Arctic Territory

Kremlin claims underwater shelf links huge chunk to Russia

(Newser) - Russia has claimed a massive, oil-rich chunk of the Arctic, despite international laws that block ownership of the territory. The Kremlin based its move on scientists' insistence that an underwater shelf links Russia to 460,000 square miles of the North Pole, which contains 10 billion tons of oil and... More »

Iran Erupts Over Gas Rationing

Leaders fear West will cut fuel imports

(Newser) - Angry Iranians torched Tehran gas stations yesterday and smashed windows as protests against gas rationing turned violent, the BBC reports. Motorists formed huge lines to fill  tanks before new laws took effect limiting Iranians to 26 gallons of gas a month. Despite its oil reserves, Iran is short of refining... More »

Exxon, Conoco Pull Out of Venezuela

Firms reject Chavez demand for 60% stake in future projects

(Newser) - ExxonMobil and ConocoPhillips are bolting from lucrative operations in Venezuela in the wake of Hugo Chavez's demand that his state-run oil company receive at least a 60% share in projects. Talks over compensation fell apart hours before today's deadline to determine the future of four projects that produce as much... More »

Scientists Sweeten on Fruit Fuel

To get to core of gas problem, pick apples over ethanol, say studies

(Newser) - Simple sugars found in fruits like apples and oranges can be converted into a new type of bio-based car fuel that provides more energy than ethanol, the current hip gas alternative. US researchers say the dimethylfuran can store 40 percent more energy and is less volatile than its corn-based cousin,... More »

Nothing We Can Do About Those Prices, Says OPEC

It's not us, it's those stingy refiners

(Newser) - Gas prices are soaring, but OPEC says that there's nothing it can do. Historically, the cartel has made big efforts to increase production when prices spike, but not his time, the Wall Street Journal reports. Members of OPEC say that there's plenty of crude being pumped; instead, the price increases... More »

Biofuels Bump Pump Prices

Government's ethanol push helps slow refinery expansion, boosting costs

(Newser) - Four-dollar gas? Blame biofuels, the oil industry says. Construction of new refinery capacity is on hold thanks to government regulations that will soon require oil companies to produce biofuels such as ethanol. Uncertain standards for biofuels, which may render new refineries useless, have led oil companies to rethink expansion plans—... More »

Cabs Go Green in New York

Bloomberg plans for all taxis to be hybrids by 2012

(Newser) - Every New York City taxi cab will be an eco-friendly hybrid in five years, Mike Bloomberg declared today. And by next year all new taxis will have to meet mileage and emissions standards. Cabs will turn green as part of the mayor's wider sustainability plan for the city, which is... More »

Gas Spikes to All-Time Record

Pump pain hits consumer spending

(Newser) - Gas hit a record high of $3.18 yesterday, soaring past the previous all-time high, the inflation-adjusted 1981 price of $3.15 per gallon. A spate of fires and power outages have crippled the nation's refineries, sending prices soaring even as crude oil costs drop. That's turning consumers away from... More »

Rudy Fails Price-Is-Right Test on Milk, Bread

(Newser) - Tarnishing his regular-guy credentials, Rudy Giuliani told reporters yesterday a gallon of milk costs $1.50 and a loaf of bread $1.25. So what if his own neighborhood's average is $4.19 for milk and upwards of $2.99 for white bread? At least he had a clue about... More »

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