Recent Gas News/GasBuddy Blog

NPR.org -- Toyota's recent, aggressive efforts to offer incentives and special deals to get customers into showrooms and buying cars seem to be working. The latest data show that Toyota sales are rising sharply.

Sales had been down with all the gas-pedal recall news. Cars were piling up at dealerships. And now, as they say in the car business, Toyota wants to "move the metal" — meaning it wants to sell a lot of those cars....  (go to article)

THE COLUMBUS DISPATCH -- By Robert Vitale -- Red-light cameras would go up at twice as many Columbus intersections and two portable camera units would be used to catch school-zone speeders under a plan headed to the City Council.

But the plan does not call for modifying the 20 current red-light cameras to catch motorists who drive too fast, Department of Public Safety officials said yesterday. They don't plan to add that capability to the 20 red-light cameras that would be added under the proposal, either.

Doing that, they fear, would risk a voter revolt similar to those that unplugged cameras last fall in Chillicothe and Heath.

"It's a pragmatic recommendation on our part," Deputy Public Safety Director George Speaks said.
 (go to article)

Seeking Alpha -- Back in the days when US oil demand controlled the price of oil, a massive recession in the United States would have sent oil to 12.00 dollars a barrel. That era, which ended last decade, was defined by ongoing spare capacity in OPEC, low-cost oil in Non-OPEC, and nascent demand for oil in the developing world. That was then, and this is now. And so it’s rather quaint that the energy analysts from that previous era still gather each week on American financial TV, to discuss the inventories at Cushing, Oklahoma. Inventories at Cushing, Oklahoma? The US has been removing discretionary demand for oil for years, starting back in 2004. And current unemployment in California is at 13.2%–another new post-war high. Yet oil is at 82.00 dollars? Get these analysts off TV. Please. We need analysis of  (go to article)

the wa -- Crude-oil futures are lower Friday as traders continue to take their cue from a firm dollar in the absence of bullish economic news.

The euro resumed the downtrend against the dollar in Europe Friday morning mainly due to growing concern over Greece's debt problem. Traders are worried the Greek debt crisis, as well as deficit problems in other European countries, may continue to pressure the euro for a long time.

Partly due to this, traders have been reluctant to push crude oil higher despite the fact that the fundamentals of crude oil have been improving.

"The trade remained very technical, and no one was willing to buy on fundamental news alone, instead keeping an eye on the currency market," said Andrey Kryuchenkov, vice president of commodities research of VTB Capital.

 (go to article)

Bloomberg -- Residues or heavy fuel inventories in Singapore, Asia’s biggest oil-trading center, fell from a three-month high this week, according to a unit of the Ministry of Trade and Industry.

Onshore stockpiles of residues, a category that includes fuel oil, low-sulfur waxy residue and excludes bitumen, decreased 6.4 percent to 22.8 million barrels in the week to yesterday, International Enterprise Singapore said in an e- mailed statement today. That’s the first drawdown in four weeks.

The country’s light distillates stockpiles, including naphtha, gasoline and reformate, also declined, dropping 10.3 percent to 9.69 million barrels, IE Singapore said. Middle distillate supplies such as gasoil, or diesel, and kerosene rebounded 18.2 percent from the previous week to 14.4 million barrels.  (go to article)

Bloomberg -- The cost of living in the U.S. probably rose at a slower pace in February, restrained by lower gasoline prices and a stagnant home-rental market, economists said before a government report today.

The consumer price index may have climbed 0.1 percent after a 0.2 percent increase in January, according to the median forecast of 79 economists in a Bloomberg News survey. Other reports today may show fewer Americans applied for jobless benefits, manufacturing in the Philadelphia region accelerated and a gauge of the outlook for growth climbed.  (go to article)

Philly.com -- Already bargain priced for the handling, power and iconic status it delivers, the Chevrolet Corvette ratchets up its value-for-the-dollar appeal this year with a new Grand Sport model.  (go to article)

Bloomberg -- Crude oil was little changed and poised for a weekly gain amid concern fuel consumption in the U.S., the world’s biggest energy consumer, declined and as the dollar’s recent strength damped investor demand for commodities.

Oil fell below $82 a barrel yesterday after the dollar advanced against the euro on speculation Greece may fail to secure financial assistance from the European Union. Commercially held U.S. crude inventories rose last week to the highest since August, the Energy Department said March 17.  (go to article)

Electronic Component News -- A man fired from a Texas auto dealership used an Internet service to remotely disable ignitions and set off car horns of more than 100 vehicles sold at his old workplace, police said Wednesday.

Ramos-Lopez used a former colleague's password to deactivate starters and set off car horns, police said. Several car owners said they had to call tow trucks and were left stranded at work or home.

"He caused these customers, now victims, to miss work," Austin police spokeswoman Veneza Aguinaga said. "They didn't get paid. They had to get tow trucks. They didn't know what was going on with their vehicles."
 (go to article)

Alternate Energy Stocks -- "...It will come as a shock to many EV evangelists who expected the Leaf from Nissan Motors (NSANY) to be a cheap plug-in vehicle, but an article in Wednesday's Mainichi Daily News reported that Nissan has set the price for the Leaf at around 4 million yen, which works out to roughly $44,000 at current exchange rates. Given the earlier known price points of $40,000 for the GM Volt and $51,000 for the i-MiEV from Mitsubishi Motors (MMTOF.PK), I would have been surprised by a lower number. I may be wrong, but I just don't see consumers lining up around the block....

One of my longest standing objections to the plug-in vehicle mania has been an almost total absence of long-term testing by normal people in real world conditions...."  (go to article)

www.rd.com -- America is spending more money to build, maintain, and improve the roads, and it’s paying off—give or take a few stretches of pavement and a few bridge spans. Rural interstates are shaping up, for instance, but their heavily traveled urban counterparts are getting worse. The percentage of deficient bridges has increased for the first time in 25 years, and as almost any driver will attest, congestion isn’t going away. But these trends are more than offset by good news about fatalities—sharply down year over year from 2006 to 2008 (though in 2008, 37,261 Americans died in accidents—more than double the number who died from homicides).

See article for rankings.  (go to article)

CNN.com -- Early evidence points to driver error as the reason a 2005 Prius sped into a stone wall on March 9, according to federal investigators.

"Information retrieved from the vehicle's onboard computer systems indicated there was no application of the brakes and the throttle was fully open," according to a statement from the National Highway Traffic Safety Administration.

The statement suggests the driver may have been stepping on the accelerator, instead of the brake, as she told police.

Investigators from Toyota and the National Highway Traffic Safety Administration inspected the wrecked 2005 Prius on Wednesday and extracted data from the car's event data  (go to article)

firstcoastnews.com -- AUSTIN, Texas -- More than 100 Austin car buyers had their vehicles disabled or triggered to continuously honk after police said a former employee hacked into the company's account.

Police said the terminated Texas Auto Center employee accessed the computer system to disable the online account that allows the company to deactivate the starters and activate the horns and GPS of many of the vehicles.

The company said they had more than 80 customers who complained they lost work, missed school or complained of towing expenses and vehicle repairs.

Police arrested Omar Ramos-Lopez, 20, and charged with breach of computer security.  (go to article)

Bloomberg Business Week -- March 19 (Bloomberg) -- Crude oil traded near $82 a barrel after falling as a stronger dollar trimmed demand for commodities as an alternative investment.

Oil declined for the first time in three days yesterday as the dollar gained against the euro amid concern Greece will fail to secure financial assistance from the European Union. Crude oil inventories rose last week to the highest level since August, according to a U.S. government report. Total fuel demand dropped by 4.2 percent to 18.8 million barrels a day, the biggest one- week decline since the week ended Nov. 6.

“There are some further concerns about the prospects for Greece so the euro fell against the U.S. dollar,” said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. The Energy Depar  (go to article)

Star Tribune -- These data devices could divulge key information about Toyota crashes, but the automaker isn't sharing it.

Toyota has for years blocked access to data stored in devices similar to airline "black boxes" that could explain crashes blamed on sudden unintended acceleration, according to an Associated Press review of lawsuits nationwide and interviews with auto crash experts.

The AP investigation found that Toyota has been inconsistent -- and sometimes even contradictory -- in revealing exactly what the devices record and don't record, including critical data about whether the brake or accelerator pedals were depressed at the time of a crash.

By contrast, most other automakers routinely allow much more open access to information from their event data recorders, commonly known as EDRs.
 (go to article)

inhabitat.com -- by Ariel Schwartz

It sounds like a strange combination: zinc oxide crystals, water, and noise pollution. But scientists at the University of Wisconsin-Madison have discovered that the mix can efficiently produce hydrogen without the need for a dirty catalyst like oil.

By submerging a new type of zinc oxide crystal in water, the scientists claim to be able to harvest hydrogen using vibrations from passing traffic and crashing waves.

Excerpts

The mechanism, dubbed the piezoelectrochemical effect,converts 18% of energy from vibrations into hydrogen gas (compared to 10% from conventional piezoelectric materials).


And since any vibration can produce the effect, the system could one day be used to generate power from anything that produces noise — cars whizzing by on the highway,  (go to article)

Wall Street Journal - Business -- WASHINGTON--The Obama administration on Thursday indicated that it is moving on two fronts to gain information about a key oil and natural-gas production technique that is viewed as essential for boosting gas supplies but that critics fear could contaminate drinking water.

The U.S. Environmental Protection Agency launched a study to determine whether "hydraulic fracturing" is contaminating water supplies. U.S. Interior Secretary Ken Salazar told a House panel that he is considering requiring oil and gas companies that drill on federal lands to disclose the chemicals used in the practice, which involves pumping water, sand and chemicals under pressure into deep underground wells. The technique breaks open underground rock, releasing the gas within.

"It is an issue that we are looking at,"  (go to article)

MSNBC --
updated 2 hours, 46 minutes ago

WASHINGTON - Computer data from a Toyota Prius that crashed in suburban New York City show that at the time of the accident the throttle was open and the driver was not applying the brakes, U.S. safety officials said Thursday.

The disclosure prompted an angry response from the police captain investigating the cause of the accident. He said his probe was not over and driver error had not been established.

"For any agency to release data and to draw conclusions without consulting with the law enforcement agency that brought this to light could be self-serving," said Capt. Anthony Marraccini of the Harrison, N.Y., force.

 (go to article)

Rig Zone -- Prime Minister Vladimir Putin has repeated Russia's claims to the Arctic continental shelf, thought to be rich in oil and gas reserves, officials said.

Rising temperatures have meant a reduction in sea ice, making hydrocarbon deposits under the Arctic Ocean more accessible, RIA Novosti reported Monday.

The Arctic lands have been the subject of dispute among the United States, Russia, Canada, Norway and Denmark, the news agency said. Each of the five Arctic Circle countries has a 200-mile exclusive economic zone in the Arctic Ocean under international law. But if a country can show its continental shelf extends beyond the 200-mile limit, it can claim rights to more of the ocean floor, RIA Novosti said.
 (go to article)

Oil and Gas Journal -- Iraq’s December 2009 auction of rights to develop 60 billion bbl of crude oil reserves in 10 fields will lift the country’s production to 9.6 million b/d by 2017 if several major obstacles can be overcome, a new Energy Policy Research Foundation Inc. (EPRINC) report concluded.

“By any standard, the Iraqi auction represents a major event in the history of the world oil market: It is the largest single transfer of reserves into the production stream since the beginning of the petroleum era,” the report maintained, saying the supply effect might lower oil prices enough to strain alternative fuels.

The report suggested that, although a wide range of external and internal threats and more traditional obstacles could derail Iraq’s prospects for a massive crude oil production increase.  (go to article)

Oil Voice -- The Alberta Energy Resources Conservation Board has approved Suncor Energy's application to develop three additional stages of its Firebag in situ oil sands project. Firebag stages four, five and six each have a planned production capacity of approximately 62,500 barrels per calendar day. Cost estimates for stages four to six are expected to be detailed as each stage receives final approval from Suncor's Board of Directors. Preliminary work is currently underway on Firebag stage four, with production targeted in late 2012.

The planned facilities will employ steam assisted gravity drainage (SAGD) technology, a thermal recovery process that allows development of deeper oil sands deposits while limiting surface land disturbance.  (go to article)

US NEWS -- The next time you’re pulled over for speeding, you might be surprised by what you see in the rearview. Ford recently unveiled its replacement for the Crown-Victoria-based Police Interceptor -- and it’s a Taurus.
“Ford first introduced its police package in 1950 and today the Ford Crown Victoria Police Interceptor is the industry leader,” explains Jalopnik. “The automaker's dominated the streets to the point that over the last five years, Ford's controlled more than 70% of the patrol cars sold. … Unfortunately, the Crown Vic's Panther-platform's getting a little long in the tooth — it hasn't seen a redesign in over 15 years
 (go to article)

bloomberg.com -- Australia is attracting more than $130 billion of investment in some of the world’s richest natural gas fields to supply buyers in Japan and China. Domestic customers, including Alcoa Inc., will have to wait.

Alcoa’s stalled alumina refinery expansion in Western Australia “will not be back on the agenda until we can secure long-term competitive gas supply,” Michaela Southby, a Perth- based spokeswoman for the biggest U.S. aluminum producer, said in an e-mailed response to questions. The project may cost $4 billion, according to a 2008 estimate by ABN Amro Holding NV.

Royal Dutch Shell Plc plans to deploy a production vessel larger than an aircraft carrier off the coast of Western Australia to feed the liquefied natural gas boom that may see annual exports hit almost A$40 billio

 (go to article)

bloomberg.com -- Renewable energy companies may tap financial markets for more funds this year instead of looking to mergers with utilities as a way of funding expansion, said Morgan Stanley, manager of the most initial public offerings for the industry in 2009.

“The big utilities have significant capital spending plans so it’s unlikely they’ll be big contributors to M&A activity,” Chris Thiele, head of European power and utilities investment banking at Morgan Stanley, said in an interview. “Equity and debt capital markets could be busier areas.”

Morgan Stanley managed $2.85 billion in IPOs for wind, solar and biomass companies in 2009, surpassing the previous leader Credit Suisse Group AG, according to a study released today by Bloomberg New Energy Finance in London. Credit Suisse last year  (go to article)

The Detroit News -- Carmakers around the world continue to improve the long-term durability of cars sold in America, though many consumers fail to recognize those improvements, according to a study released this morning by J.D. Power and Associates.

In the 2010 Long-Term Dependability Study, 25 of 36 brands improved their overall quality. The study measures problems original owners experience with their cars and light trucks over three years.

Although brands such as Ford, Cadillac, Lincoln, Hyundai and Mercury all bested the industry average for long-term dependability, consumers avoid them because of perceived poor quality, according to the study. In fact, seven of the 10 models with the lowest number of problems were built by either General Motors Co. or Ford Motor Co., the report stated.
 (go to article)

The Detroit News -- Ford Motor Co. today announced that it will invest $2.5 billion in its four British facilities over the next five years to produce more environmentally friendly powertrains and vehicles.

The move came after the Dearborn automaker received $550 million in loan guarantees from the British government. That was expected to secure Ford's $689 million application to the European Investment Bank.

"Ford welcomes this positive support from the government," said Ford of Britain Chairman Joe Greenwell. "It greatly assists in delivering Ford's commitment to invest $2.5 billion in new, affordable, volume-produced, low CO2 technologies."

Ford's research-and-development center in Dagenham in Essex will receive funds to pay for the research, development and manufacture of low-carbon technology  (go to article)

The Detroit News -- The Congressional Budget Office says in a new report today that the government's $85 billion auto bailout will cost taxpayers $34 billion.

The new estimate is about $3 billion higher than estimates from the Obama administration, which predicted earlier the government would lose $30.8 billion on its investments in General Motors Co., Chrysler Group LLC, Chrysler Financial LLC and GMAC Inc.

But the CBO's estimate of auto losses fell from $47 billion to $34 billion because automakers "demonstrated some measure of financial stability and an improved business outlook."

GM has said it plans to repay the outstanding $5.7 billion balance of its $6.7 billion in government loans by June 30.

 (go to article)

Modesto Bee -- Gas prices have begun their annual, gradual climb upward, with forecasters predicting that Modesto's prices will hover around $3.30 a gallon for regular unleaded through the end of April.

A month ago, the average price for a gallon of unleaded gas in Modesto was $2.84. Early Tuesday, AAA showed it at $3.01.
 (go to article)

The Huffington Post -- J.D. Power and Associates annual report on vehicle reliability was released today -- and the results may surprise Toyota owners worried over the recent recall news....  (go to article)

Breitbart -- WASHINGTON (AP) - The U.S. military is growing increasingly concerned that proposed wind farms can disrupt or block radar designed to detect threats and protect America's skies, a problem that is stalling the alternative energy projects around the country.
A top U.S. general told Congress on Thursday that federal agencies need to work better together on a formal vetting process for the wind projects to prevent them from being built where they will interfere with radar defenses.
Air Force Gen. Gene Renuart, head of U.S. Northern Command, said a number of projects raise "real concerns" involving radar interference, and he suggested that requiring companies to do early checks during the approval process for such obstruction may be needed.

"We've heard concerns that wind turbines may interfer  (go to article)

Washington Post -- Is $80-a-barrel oil the new $60?

The Organization of Petroleum Exporting Countries hopes so. The oil cartel met in Vienna on Wednesday and decided to leave well enough alone, making no changes in production quotas and praising the current world crude-oil price of about $80 as high enough to spur new exploration and production and low enough to avoid killing the global economy's fragile recovery.

Last year, crude-oil prices averaged $61.95 a barrel. So far this year, however, the price of West Texas Intermediate-grade crude oil -- a widely used industry benchmark -- has averaged more than $77 a barrel, a more expensive start than in any year other than 2008, when prices began at more than $90 a barrel and later spiked to nearly $150.
"The OPEC countries are gleeful about what's happening  (go to article)

Reuters -- U.S. investigators looking into the claim of a runaway Toyota Motor Corp Prius in New York last week said on Thursday no brakes had been applied before the vehicle hit a wall.  (go to article)

CNBC -- Oil prices slid on Thursday, snapping a two-day advance, as the dollar strengthened and the euro remained under pressure amid concerns about Greece's debt problems.

Trading sources expressed caution about oil's recent rise, which may not be justified by fundamentals. An analyst report forecasting that OPEC exports would rise in the four weeks to April 3 also helped keep oil futures pinned to the downside.

 (go to article)

usnews.com -- The District of Columbia is the safest place in the nation for teens to drive, according to the first U.S.News & World Report ranking of the Best States for Teen Drivers. U.S. News examined 11 factors that affect teen driving safety, ranging from teen driver fatalities to laws regarding how quickly teens are able to earn unrestricted driving privileges to the average number of miles residents drive within the state.  (go to article)

GasBuddy Blog -- Here are some highlights from yesterday's Department of Energy Report on U.S. supply and demand:

>Crude inventories increased 1.0 million barrels from the previous week.
Comment: This is a pretty small increase compared to past reports, but brings the amount of oil in storage to 344.0 million barrels, which is 4.1% below last year, when we had 358.8 million barrels in storage.

>Gasoline inventories decreased 1.7 million barrels from the previous week.
Comment: While this number may seem to be a decent number, conventional gasoline inventories actually increased while blending components decreased over 2 million barrels. The loss in blending component inventories may be a result of refiners drawing down on...  (go to article)

GreenBiz -- China's production of scientific knowledge is now second only to the U.S. It is the top manufacturer of both solar PV and solar hot water heaters, and was also the largest installer of new wind farms in 2009. Over the next 10 years, China may dump a staggering $660 billion into its clean energy build-out.

But while China is leading the global clean tech race, the competition isn't over, according to research firm Clean Edge.
 (go to article)

Associated Press (newsvine) --
The first Corvette with the Grand Sport name since 1996, the new model slots below the pricey Corvette Z06, which has a starting price tag of more than $75,000.

The Grand Sport, in comparison, has a starting manufacturer's suggested retail price, with destination charge, of $55,720 for a coupe and $59,530 for a convertible with at least 430 horsepower. This is $5,840 more than a base Corvette coupe and $5,000 more than a base Corvette convertible.
 (go to article)

Toledo Blade -- OAK HARBOR, Ohio - With more questions arising out of the latest situation at Davis-Besse, federal regulators announced late yesterday they have dispatched a special inspection team to the Ottawa County nuclear plant.  (go to article)

Sympatico.ca -- As if Toyota wasn't facing enough problems already, there's now speculation that cosmic rays could be causing the sudden acceleration.

An anonymous e-mail to the National Highway Traffic Safety Administration last month prompted federal regulators to look into the matter. The individual said radiation could very well be the cause, citing historical malfunctions in both airplanes and spacecraft. In these incidents, sudden software crashes occur without any pre-indication - and the problems end just as unpredictably as they start.

The e-mail also said the auto industry lags behind, because it has not accepted the possibility, nor has it prepared for it.

The only way to block the interference is through a design that combines software and hardware, but Toyota claims its technology  (go to article)

The Montreal Gazette -- 2011 MAZDA2

Mazda's display is all about the 2011 Mazda2, a stylish, eco-friendly, fun-to-drive five-door hatchback. Compact and efficient yet packed with style and substance, the Mazda2 will launch into the Canadian market late this summer.

Also appearing are a trio of concept 2011 Mazda2s with two of the three cars making their Canadian debuts. The first is the 2Evil Special Concept, a track-inspired weekend racer that is equally comfortable on the urban commute, while the second is the Active2 Surf Concept. Also appearing is the Active2 Snow concept. All three variants showcase the Mazda2's ability to meet the needs of a customer's desire for personalization, says the automaker.  (go to article)

USA Today -- Looking for an excuse to carry your St. Patrick's Day binging into tomorrow? Well, consider celebrating National Biodiesel Day, noting the birthday of engine inventor Rudolf Diesel.

So says Ford, which is using the anniversary as a reason to promote the 2011 Ford Super Duty pickup as a "green" vehicle, a bold move given that it's about the biggest thing on the road. Ford says it's one biodiesel-lovin' truck. What is there to love?

Biodiesel is diesel fuel made from renewable stuff like vegetable oil and animal fat. The monster 6.7-liter Power Stroke V-8 turbocharged diesel engine in the Super Duty is B20 compatible, meaning it can handle of blend of 20% biodiesel and 80% petroleum diesel.  (go to article)

Canada.com -- Having honed the modern engine to the point where it is going to take an enormous change (camless valve activation, for example) to further the economy cause, the next logical step is the hybridization of the powertrain.

There are two main types of hybrid systems. The mild hybrid uses the electric side to supplement the gasoline engine.

As such, it cannot drive the vehicle on its own. These systems -- such as that in the Mercedes-Benz S400 -- do have a place in the near term.  (go to article)

New York Times -- DETROIT — General Motors has a “reasonable chance” of earning a profit this year, the carmaker’s chief financial officer, Christopher P. Liddell, said Wednesday.  (go to article)

Flyer obtained at RAM station in Silver City, NM -- Tom Turner Sr. the founder of TETCO (Tom E. Turner Company) started selling gasoline in 1947. He later developed his company, Sigmore, into the largest independant distributor of gasoline in the United States. In the early 1970's he was one of the modern convenience store concept. He later sold the company to Diamond Shamrock today's Valero.

RAM is the newest brand offering from TETCO, one of the largest and most experianced fuel distributorships in the United States. TETCO is a San Antonio company, owned and operated by the Tom E. Turner family for more than 60 years. TETCO Stores: PO Box 171720, San Antonio, TX, 78217. (210)821-5900  (go to article)

VOA News -- What's billed as the biggest rollout of electric vehicle infrastructure in the world is about to begin in the United States.

Urban planners are deciding where to locate more than 11,000 charging stations in 11 major cities. They want those stations up and running when the first mass-market electric cars from Nissan and General Motors go on sale at the end of this year.

The infrastructure will include more than 2,000 electric car chargers in the greater Seattle area in western Washington, and another 2,000 at homes and public places in four Oregon cities. They'll be near shopping centers, fast food restaurants and movie theaters, "the variety of places that people think about when they're able to park and leave the vehicle for an hour or two."  (go to article)

Detroit Free Press -- "Ford and General Motors achieved impressive marks in the latest vehicle dependability study released today by J.D. Power and Associates.

Lincoln finished second to only Porsche in the study, which measures the number of problems experienced by the owners' 2007 model year cars. Mercury and Ford also scored in the top 10.

“It’s pretty impressive to get all three of them in the top 10,” David Sargent, J.D. Power’s vice president of global vehicle research, told the Free Press.

Meanwhile, GM’s Buick brand finished in third place and the Cadillac DTS was the top-rated vehicle in the entire study, beating the Lexus LS which has finished first for the past several years."  (go to article)

CBC News -- The Canadian dollar marched closer to parity with its U.S. counterpart Wednesday, supported by higher commodity prices and the prospect of continued low American interest rates.
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The loonie's official close, as recorded by the Bank of Canada at 4 p.m. ET, was 98.98 cents US, up .36 of a cent on the day, but it continued trading later on currency markets above the 99- cents level.
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Demand for the loonie is also expected to increase along with the appetite for Canadian commodities.
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In Toronto, the S&P/TSX Composite Index finished up 11.3 points at 12,100.7. That came a day after it rose 81 points Tuesday after the U.S. Federal Reserve's decision on interest rates.
 (go to article)

WIFR -- Gas prices shot up in some areas, but some experts said the days of paying more at the pump are numbered
If you've filled up lately, you've probably noticed gas prices jumped nearly twenty cents in the last month.

"I think they are astronomical and ridiculous," Dr. L.D. Tate said.



Experts said that usually happens near Spring because refineries undergo maintenence.

And with clear sky's above, summer has a brighter outlook. According to experts, they say gas prices are actually expected to be lower than what they are right now, clustering the $2.50 mark. With that said, AAA reps said more people will likely travel this summer.

"The economy is stabilizing and from what we've seen so far, people are starting to travel in more ways," AAA rep Beth Mosher said.
 (go to article)

Reuters -- Japan's Nissan Motor Co will begin building the Leaf electric compact car at its Sunderland plant from early 2013, making Britain its third global production site for the zero-emission vehicle.

Nissan, Japan's No.3 automaker held 44 percent by Renault SA, had already announced plans to make batteries for the electric cars in Sunderland, but had been considering several sites for European production of the car itself.

Nissan said in a statement on Thursday that the Sunderland site would start with annual production capacity of 50,000 Leaf cars.  (go to article)

Reuters -- BRATISLAVA, March 18 - Car maker Kia Motors said on Thursday it will invest 100 million euros ($136.6 million) to build a new engine plant at its assembly site in Slovakia.  (go to article)

Houston Chronicle -- James R. “Jim Bob” Moffett could have retired years ago with his legend fully intact. Today, however, in the twilight of a long, storied and sometimes controversial career, the 71-year-old oil and mining executive is taking what amounts to a victory lap.

Moffett, co-chairman of New Orleans' McMoRan Exploration Co., is riding high again after the recent discovery of a major natural gas field in the shallow waters of the Gulf of Mexico, touted as the biggest there in decades.

Called Davy Jones, the discovery is significant for more than its size: It is in an ancient layer of sediment buried at a depth few in industry have ever drilled. As such, it could herald a new frontier for oil and gas development in the heavily explored offshore region.

“Nobody thought we'd be sitting ...  (go to article)