Gas Gets Pumped Up

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May 2008
- Planes Slowing Down to Save on Fuel Costs
  
  Associated Press | May 3, 08 12:30 PM CDT
  
  (Newser) - As airlines feel the pain of higher energy prices, planes are slowing down to save fuel, the AP reports. Southwest, for instance, will save $42 million by adding a few minutes to each flight this year, and passengers are unlikely to notice. But it’s no cure-all: Labor costs go up with flight time, and going too slowly actually increases fuel costs. More »
- House Scuttles Gas Tax Holiday Proposal
  
  The Hill | May 2, 08 4:13 AM CDT
  
  (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 any moratorium on the gas tax would be passed on to the consumer," said House Speaker Nancy Pelosi. More »
- McCain Tweaks Friedman Over Gas-Tax Column
  
  Politico | May 1, 08 6:43 PM CDT
  
  (Newser) - John McCain pushed back today against a New York Times op-ed that deemed a gas-tax holiday “shameful pandering,” painting Thomas Friedman as elitist: “I understand in New York City that you don't really drive a long way," he said. "And then maybe you're chauffeured.” His CNN interlocutor even broke in to change the topic, to “interrupt this tirade against Tom Friedman,” Politico reports. More »
- Economists Slam Clinton, McCain Gas-Tax Cut
  
  Washington Post | May 1, 08 1:55 PM CDT
  
  (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 demand at a time that demand is already high—which would lead directly to even higher prices. More »
- Exxon Profits Shoot Up 17%, But Still Miss Target
  
  Bloomberg | May 1, 08 8:54 AM CDT
  
  (Newser) - Exxon Mobil’s profits jumped 17% in the first quarter, but still fell short of expectations, Bloomberg reports. Exxon’s number, which was held back by drops in productions and refinery profit margins, looks shabby compared to the world’s other two largest oil companies, which posted 25% and 63% gains respectively. “Exxon is having trouble raising production, and that's not a good sign,” said one money manager. More »
April 2008
- Gas-Tax Break Shameful Policy
  
  New York Times | Apr 30, 08 5:29 PM CDT
  
  (Newser) - The “McCain-Clinton” gas-tax vacation is an abomination of energy policy, Thomas Friedman declares in the New York Times . “This is money laundering: We borrow money from China and ship it to Saudi Arabia and take a little cut for ourselves as it goes through our gas tanks.” Worse than just despicable pandering, it would encourage gas consumption and drive the renewables market overseas. More »

Stories

Planes Slowing Down to Save on Fuel Costs

House Scuttles Gas Tax Holiday Proposal

McCain Tweaks Friedman Over Gas-Tax Column

Economists Slam Clinton, McCain Gas-Tax Cut

Exxon Profits Shoot Up 17%, But Still Miss Target

Gas-Tax Break Shameful Policy