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Edwards wins at Michigan ending 52-race drought

Carl Edwards snapped a 52-race Nextel Cup winless streak Sunday by holding off Martin Truex Jr. at Michigan International Speedway, according to NASCAR.com

Edwards handily beat Truex to the line to grab his first win since Nov. 11, 2005, at Texas. He celebrated his fifth career Nextel Cup win with his trademark backflip off the window ledge of his car.

Posted by   at 10:44 AM to Racing | Permalink | Comments 0

Audi keep their nerve to retain Le Mans title

Audi tightened their recent stranglehold on the Le Mans 24 Hours in France yesterday with another victory on the 75th anniversary of the event, thanks to the efforts of Frank Biela, Emanuele Pirro and Marco Werner, the Guardian reports.
Their diesel-powered Audi R10 completed the rain-soaked event ahead of the new Peugeot 908 HDi of Sébastien Bourdais, Pedro Lamy and Stéphane Sarrazin.

Posted by   at 10:41 AM to Racing | Permalink | Comments 0

Sensational Hamilton wins US Grand Prix

British rookie Lewis Hamilton won the US Grand Prix overnight to take his second victory in a row and forge 10 points clear of McLaren team mate Fernando Alonso in the Formula One championship, ABC News reports.

Hamilton crossed the line 1.518 seconds ahead of the double world champion for his seventh podium finish in seven extraordinary starts.

Posted by   at 10:36 AM to Racing | Permalink | Comments 1

Oil Industry Scales Back Refinery Plans

A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions, according to the Associated Press.

That could keep gasoline prices high, possibly for years to come.

With President Bush calling for a 20 percent drop in gasoline use and the Senate now debating legislation for huge increases in ethanol production, oil companies see growing uncertainty about future gasoline demand and little need to expand refineries or build new ones.

Posted by   at 10:09 AM to Gas prices , Oil | Permalink | Comments 0

UAW May Offer Concessions to Chrysler

United Auto Workers President Ron Gettelfinger said the union must offer health care concessions to Chrysler similar to those it gave Ford Motor Co. and General Motors Corp. in 2005, according to the Associated Press.

"We've been talking to Chrysler quite frequently - we do need to find a way to fix the problem there now that Chrysler is in a downward mode," Gettelfinger said in an interview on WJR-AM in Detroit. The UAW two years ago gave health care concessions to Ford and GM that saved the companies billions of dollars, but refused to grant the same deal to Chrysler because of its stronger financial condition at the time.

Posted by   at 10:05 AM to Companies | Permalink | Comments 0