Oil producer BP is shutting down the biggest oilfield in the United States, Alaska’s Prudhoe Bay, due to severe corrosion on a pipeline after discovering a small pipeline leak. The shutdown will cut output by 400,000 barrels daily, which is about 8 percent of U.S. crude production, or 2.6%. of American oil supply. The shutdown […]

Exxon Mobil, the world’s largest public oil company, announced a $10.36 billion second-quarter profit, driven by another quarter of sharply higher oil prices. Exxon’s near record earnings sailed past Wall Street forecasts and are second to the $10.71 billion Exxon posted in January for Q4 2005. Exxon and its peers continue to post massive earnings […]

As gas prices reached record levels this summer, many automakers emphasized increased fuel economy on their new models. But there’s “not a snowball’s chance that any of these vehicles will match their EPA-certified mpg when you drive them on a U.S. highway,” says Csaba Csere of Car and Driver.
Csere calls for more accurate mpg testing […]