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GM Developing Detroit Waterfront

General Motors may be devolved from its empire of alliances, but it's still looking laterally to make money. This time, the automaker is looking in its own backyard, as it sets out to develop condos on the Detroit riverfront, according to thecarconnection.com

GM says it will develop six acres just to the east of the GM headquarters building, the Renaissance Center . The complex will be mostly residential, with waterfront lots and river views.

Posted by   at 12:18 PM to Companies , GM | Permalink | Comments 0

Chrysler reveals plans to boost fuel efficiency

With higher government fuel economy requirements looming and gasoline prices around $3 a gallon, Chrysler Group on Thursday announced several measures to boost the fuel mileage of its cars and trucks, according to USA Today.

During an event to showcase its 2008 models, the company said its new family of V-6 engines will have the ability to drop to three cylinders when less power is needed, raising V-6 fuel economy 6% to 8%.

The company also plans to place its new two-mode hybrid powertrain in more vehicles, put a clean diesel engine in the 2009 Jeep Cherokee sport-utility vehicle, and upgrade its 5.7-liter Hemi and 4.7-liter V-8 engines to get better gas mileage.

Posted by   at 12:13 PM to Alternative fuels , Chrysler , Companies , Design , Environment , Fuel economy , Technology | Permalink | Comments 1

U.S. refineries not running at full tilt

U.S. refiners are producing far less gasoline than they are capable of making because of planned and unplanned maintenance, USA Today reports.

That has led to a greater reliance on imports and has made U.S. gasoline supplies vulnerable to further disruptions, such as hurricanes, during the busy summer driving season.

U.S. refineries churned out 87.6% of the gasoline that they were capable of producing last week, down from 89.2% the week before and 5.7 percentage points below a year ago, the government said Wednesday.

Posted by   at 12:11 PM to Gas prices | Permalink | Comments 0

Oil Tops $69 a Barrel on Nigeria Strike

Oil prices have risen above $69 a barrel as the oil industry began to feel the effects of a general strike in Nigeria, Africa's largest crude producer, according to the Associated Press.

Nigeria's labor unions launched a strike Wednesday aimed at overturning government price increases on gasoline, among other demands that the government already has conceded.

Posted by   at 12:07 PM to Oil | Permalink | Comments 0