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Exxon Mobil to produce extra million barrels of oil a day

Exxon Mobil Corp. said Wednesday it will spend some of its record profits on more than 20 new global projects in the next three years, investments expected to add 1 million oil-equivalent barrels a day to the company's volumes at peak production, according to the Associated Press.
Chairman and CEO Rex Tillerson said the company's capital spending would be about $20 billion a year through the end of the decade. The company's capital spending tab in 2006 was nearly $20 billion, up $2.2 billion from 2005.

Posted by   at 12:45 PM | Permalink | Comments 0

Gas prices edging up in Western states

Gasoline prices have jumped above $3 a gallon in some parts of California and Hawaii, and may hit that level in other parts of the country when the busy summer driving season approaches, according to the Associated Press.
Analysts say drivers should brace for more increases in the coming weeks. Crude oil, which makes up about half the price of gasoline, is trading above $60 a barrel. Higher demand, refinery maintenance and fears about springtime shortages are also driving up prices, particularly on the West Coast.

Posted by   at 12:39 PM to Gas prices | Permalink | Comments 0

Ford recalling certain Crown Victoria police cars

Starting next week, Ford will be recalling nearly 110,000 2003-2005 Crown Victoria police cars because possible wheel cracks could cause rapid air loss in tires during high-speed pursuits, according to an Associated Press report in USA Today. The cracks have been reported in only a small percentage of the wheels.

Posted by   at 12:23 PM to Companies | Permalink | Comments 0

Germany's dirty cars a hurdle for Chancellor Angela Merkel

Europe prides itself on its pioneering approach to climate change. However, Germany's fabled cars are among the dirtiest when it comes to carbon dioxide emissions. That means Chancellor Angela Merkel, currently president of the European Union, must face down the German auto industry before trying to persuade Europe to accept stringent new cuts in carbon dioxide emissions, according to a report in The New York Times.

Posted by   at 11:15 AM to Environment | Permalink | Comments 0