Quote:
Originally Posted by ReefHound
Quote:
Originally Posted by aggie99
I am only quoting a CNN article:
Experts say offshore oil drilling would not have an immediate impact on oil prices because oil exploration takes years.
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You know on it's face that is simply untrue. It takes six weeks for oil to travel from the oilfield to the refinery. The barrel price of oil changes daily, sometimes making huge swings like down $5 one day and up $9 the next. It isn't because six weeks ago production was off or demand was up. It's because the market price is moved by news. Any major development, for better or for worse, is going to have an immediate impact on price regardless of when the actual impact on supply/demand occurs. |
The average mpg for new cars in Europe is 43mpg, in the US it is 29.3mpg (up from 21mpg due to gas prices and GM shutting down large truck and SUV plants). In Europe in 2007 there were 113 cars that get 40mpg or better (up form 85 in 2005), in the US there are 2 (the honda civic hybrid and Prius) which is down from 5 in 2005.
U.S. 'stuck in reverse' on fuel efficiency - The Driver's Seat - MSNBC.com