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Wednesday, June 25, 2008
Tuesday, June 24, 2008
Wednesday, June 11, 2008
'Unethical behavior' to blame for gas prices - poll
62% of survey respondents say record runup in prices is fault of actions by players in the gasoline supply chain.
NEW YORK (CNNMoney.com) -- The question nags at Americans every time they fill up their gas tanks: Why is it costing $4 a gallon?
A poll released Wednesday finds that 62% of Americans blame "unethical behavior" by industry players, while 32% attribute the price increases to supply and demand.
The CNN/Opinion Research Poll highlights a growing debate among American consumers, policymakers and oil executives over the exact causes of skyrocketing gas prices. Retail gas rose to another record Wednesday, with half the states in the nation paying more than $4 a gallon on average, according to AAA. Gas prices have risen nearly 9% from $3.718 last month and are 32% higher than the $3.066 average price a year ago.
The poll reflects telephone interviews with 1,035 adults conducted June 4-5. The margin of error is plus or minus 3 percentage points
While gas prices have taken a toll on consumer budgets, oil companies have seen record profits. Last month, industry executives faced lawmakers on Capitol Hill to explain those profits, which critics claim are excessive. The executives testified that the price runups belie tight margins and reflect fundamental economic factors such as a weak dollar, increased demand abroad for oil and speculative investment.
The weaker dollar encourages buying by investors who view oil and other commodities as a hedge against inflation. It also increases the appeal of dollar-denominated commodities like oil to overseas investors.
Industry analysts agree that the increased gas prices reflect complicated market forces rather than deliberate actions by individuals or corporations looking for profit.
"There's a solid supply-and-demand model that indicates that production is not growing for myriad reasons and demand continues to grow," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill.
Looking ahead, Ritterbusch believes that gas prices will level off by the end of the summer, although he declined to forecast an exact figure.
"The prices are already starting to choke off demand in the United States," he said. "That's going to spread overseas and to the emerging economies. We're also going to see concerted efforts to strengthen the dollar and we are going to see higher interest rates."
BP PLC (BP) chairman Peter Sutherland said Wednesday oil companies never expected demand for oil to surge so quickly, and they failed to make the investments needed to clear the supply bottleneck.
Consumer sentiment on gas prices has become a major election issue. On Tuesday, Senate Republicans blocked a proposal to tax the profits of the five largest U.S. oil companies and rescind an expected $17 billion in tax breaks for the companies over the next decade.
Analysts said the U.S. could help ease future gas prices by lifting restrictions on domestic oil drilling.
"We need to develop more sources of oil, not only globally but also in the United States," said Addison Armstrong, director of market research at Tradition Energy in Stamford, Conn. "The United States has done very little to boost its capacity."
Monday, June 9, 2008
The Entire World Is Feeling The Pinch at the Pump!
Huge tailbacks built up around major cities and on the French-Spanish border as French fishermen in Mediterranean ports ended their three-week strike over the spiralling cost of fuel.
Spain's second largest hauliers' union Fenadismer, which claims to represent 70,000 out of Spain's 380,000 truck drivers, launched an open-ended strike on Monday. It said it was "peaceful" but followed "massively".
Talks Monday between the hauliers and the government ended in failure, Fenadismer said.
"Fenadismer will maintain its national strike" as the government's proposals were "insufficient", it said.
Trucks jammed several main highways including at the frontier with France, according to traffic officials, who also reported massive snarls in Madrid and Valencia.
A Spanish truckers' group calling itself the Platform for the Defence of the Transport Sector, who say they speak for 50,000 truckers, walked off the job last week. They have threatened to disrupt the opening this weekend of the International Exposition in Zaragosa.
The conservative Spanish newspaper ABC said the aim of the strikers was to block oil supplies from refineries and stocks at retail markets this week.
Spanish media said the number of trucks at wholesale markets on Monday were considerably lower than usual.
French truckers struggling with high fuel costs staged fresh protests near the Spanish border and in the southwest.
Several trucks from the southern city of Perpignan disrupted traffic at border posts, preventing trucks from crossing and causing a tailback of some 10 kilometres (six miles) on both sides of the border. Private cars were allowed through.
Protestors branded banners which read: "Trucker = Unemployed," and "It's the end of our profession."
Some 200 trucks converged on the four main motorways leading into Bordeaux Monday morning, causing 30 kilometers (20 miles) of tailbacks in and around the city.
"We are demanding immediate measures" to counter the impact of high fuel prices, said Jean-Pierre Morlin, president of the European trucking organisation for the Aquitaine region.
Portugal's Transport Minister Mario Lino was to meet later Monday with representatives of road transport associations in a bid to end the strike by truckers who have threatened to "paralyze" the country.
According to police, trucks parked at petrol pumps were stoned overnight or while they were on the road after the strike started at midnight.
Many had their windscreens shattered.
The strikers also blocked entrances to several factories. According to industry figures, there are some 40,000 truckers in Portugal serving an estimated 5,000 firms.
However, French fishermen from Mediterranean ports on Monday ended a three-week strike ahead of a key meeting of European fisheries ministers.
"All of the fleets from the Mediterranean ports went back to work this morning, but we remain very vigilant," said Ange Natoli, a representative of the Mediterranean fishing fleets.
Fleets in the Channel ports of Boulogne-sur-Mer, Calais and Dunkirk last week called off their strike pending the talks.
Portuguese fishermen called off their five-day-old strike on Wednesday.
However, their counterparts in Spain, home to Europe's largest fishing fleet, maintained their "indefinite" stoppage launched May 30.
"Almost all the ports in Spain are on strike," said the head of the Spanish Fisheries Confederation, Javier Garat.
EU fisheries ministers meet on June 23-24 tackle the fuel crisis.
Marine diesel prices have leapt by around 30 percent since the start of 2008, triggering protests in European ports as well as warnings that fishing boat owners face bankruptcy without higher subsidies.
If you're looking for the cheapest gas in your area...This is for you!
Gasoline prices change frequently and may vary by as much as 20 percent within only a few blocks. It's important to be able find the service station with the lowest priced fuel. GasBuddy web sites allow motorists to share information about low priced fuel with others as well as target the lowest priced stations to save money when filling up at the pumps!
For those of you who would like to run your car/truck on gasoline and water in order for you to save BIG on your fuel cost, then visit us at: Water4fuel.info
Sunday, June 8, 2008
Fuel Economy Leaders: 2008 Model Year
Fuel Economy Leaders: 2008 Model Year
2008 Fuel Economy
Information Now Available
Rank | Manufacturer/Model | MPG city/highway |
---|---|---|
1 | Toyota Prius (hybrid-electric) | 48/45 |
2 | Honda Civic Hybrid | 40/45 |
3 | Nissan Altima Hybrid | 35/33 |
4 | Ford Escape Hybrid FWD Mazda Tribute Hybrid 2WD Mercury Mariner Hybrid FWD | 34/30 |
5 | Toyota Camry Hybrid | 33/34 |
6 | Toyota Yaris (manual) | 29/36 |
7 | Toyota Yaris (automatic) | 29/35 |
8 | Ford Escape Hybrid 4WD Mercury Mariner Hybrid 4WD Mazda Tribute Hybrid 4WD | 29/27 |
9 | Toyota Corolla (manual) | 28/37 |
10 | Honda Fit (manual) | 28/34 |
Sometimes, it just isn't easy trying to figure out which car to buy. If fuel economy is one of your primary selling points, then you should head on over to the fueleconomy.gov website to get the latest fuel economy (and emissions) from the EPA.
Unfortunately the EPA assumes people come into the site looking to purchase a particular type of car, whether SUV, small car, family sedan or hatchback. Not everyone thinks that way. So I looked through and located every 2008 model year car that gets over 25 mpg and sorted them by their fuel economy.
Not surprisingly, the top five most fuel efficient vehicles on the list are hybrids.
UPDATE (May 30, 2008): I've gone back and updated the list. There are now 99 cars listed that get over 25 mpg combined. As you can see from the list, the MINI(s) has been added in, along with the Saturn Vue Hybrid and a few others.
MPG | |||||
Ranking | Category | Vehicle | City | Highway | Combined |
1 | family sedans | Toyota Prius 4 cyl, 1.5 L, Automatic (CVT), HEV, Regular | 48 | 45 | 46.7 |
2 | small cars | Honda Civic Hybrid 4 cyl, 1.3 L, Automatic (CVT), HEV, Regular | 40 | 45 | 42.3 |
3 | Coupes | smart fortwo coupe 3 cyl, 1 L, Automatic (S5), Premium | 33 | 41 | 36.6 |
3 | Convertibles | smart fortwo convertible 3 cyl, 1 L, Automatic (S5), Premium | 33 | 41 | 36.6 |
4 | family sedans | Nissan Altima Hybrid 4 cyl, 2.5 L, Automatic (CVT), HEV, Regular | 35 | 33 | 34.1 |
5 | family sedans | Toyota Camry Hybrid 4 cyl, 2.4 L, Automatic (CVT), HEV, Regular | 33 | 34 | 33.5 |
6 | SUV | Ford Escape Hybrid FWD 4 cyl, 2.3 L, Automatic (CVT), Regular | 34 | 30 | 32.2 |
6 | SUV | Mazda Tribute Hybrid 2WD 4 cyl, 2.3 L, Automatic (CVT), Regular | 34 | 30 | 32.2 |
6 | SUV | Mercury Mariner Hybrid FWD 4 cyl, 2.3 L, Automatic (CVT), Regular | 34 | 30 | 32.2 |
7 | small cars | Toyota Yaris 4 cyl, 1.5 L, Man(5), Regular | 29 | 36 | 32.2 |
7 | small cars | MINI Cooper 4 cyl, 1.6 L, Automatic 4-spd, Regular | 29 | 36 | 32.2 |
7 | Hatchback | Toyota Yaris 4 cyl, 1.5 L, Man(5), Regular | 29 | 36 | 32.2 |
8 | small cars | MINI Clubman 4 cyl, 1.6 L, Manual 6-spd, Premium | 28 | 37 | 32.1 |
8 | small cars | Toyota Corolla 4 cyl, 1.8 L, Man(5), Regular | 28 | 37 | 32.1 |
9 | small cars | Toyota Yaris 4 cyl, 1.5 L, Auto(4), Regular | 29 | 35 | 31.7 |
9 | Hatchback | Toyota Yaris 4 cyl, 1.5 L, Auto(4), Regular | 29 | 35 | 31.7 |
10 | small cars | Honda Fit 4 cyl, 1.5 L, Man(5), Regular | 28 | 34 | 30.7 |
10 | Hatchback | Honda Fit 4 cyl, 1.5 L, Man(5), Regular | 28 | 34 | 30.7 |
11 | small cars | Honda Fit 4 cyl, 1.5 L, Auto(5), Regular | 27 | 34 | 30.2 |
11 | Hatchback | Honda Fit 4 cyl, 1.5 L, Auto(5), Regular | 27 | 34 | 30.2 |
12 | small cars | Toyota Corolla 4 cyl, 1.8 L, Auto(4), Regular | 26 | 35 | 30.1 |
13 | small cars | Honda Civic 4 cyl, 1.8 L, Auto(5), Regular | 25 | 36 | 30.0 |
13 | small cars | Chevrolet Cobalt XFE 4 cyl, 2.2 L, Manual 5-spd, Regular | 25 | 36 | 30.0 |
14 | small cars | Scion xD 4 cyl, 1.8 L, Man(5), Regular | 27 | 33 | 29.7 |
14 | small cars | Nissan Versa 4 cyl, 1.8 L, Automatic (CVT), Regular | 27 | 33 | 29.7 |
14 | small cars | Honda Fit 4 cyl, 1.5 L, Auto(S5), Regular | 27 | 33 | 29.7 |
14 | Hatchback | Scion xD 4 cyl, 1.8 L, Man(5), Regular | 27 | 33 | 29.7 |
14 | Hatchback | Honda Fit 4 cyl, 1.5 L, Auto(S5), Regular | 27 | 33 | 29.7 |
14 | Station Wagons | Scion xD 4 cyl, 1.8 L, Man(5), Regular | 27 | 33 | 29.7 |
15 | small cars | Honda Civic 4 cyl, 1.8 L, Man(5), Regular | 26 | 34 | 29.6 |
15 | small cars | MINI Cooper 4 cyl, 1.6 L, Automatic (S6), Premium | 26 | 34 | 29.6 |
15 | small cars | MINI Cooper S 4 cyl, 1.6 L, Manual 6-spd, Premium | 26 | 34 | 29.6 |
15 | small cars | MINI Clubman S 4 cyl, 1.6 L, Manual 6-spd, Premium | 26 | 34 | 29.6 |
16 | small cars | Kia Rio 4 cyl, 1.6 L, Auto(4), Regular | 25 | 35 | 29.5 |
16 | small cars | Pontiac G5 XFE 4 cyl, 2.2 L, Manual 5-spd, Regular | 25 | 35 | 29.5 |
16 | Coupes | Pontiac G5 XFE 4 cyl, 2.2 L, Manual 5-spd, Regular | 25 | 35 | 29.5 |
17 | small cars | Honda Civic 4 cyl, 1.8 L, Auto(5), RNG=170, Natural Gas | 24 | 36 | 29.4 |
18 | small cars | Hyundai Accent 4 cyl, 1.6 L, Man(5), Regular | 27 | 32 | 29.3 |
18 | small cars | Kia Rio 4 cyl, 1.6 L, Man(5), Regular | 27 | 32 | 29.3 |
19 | Station Wagons | Pontiac Vibe 4 cyl, 1.8 L, Man(5), Regular | 26 | 33 | 29.2 |
19 | Station Wagons | Toyota Matrix 4 cyl, 1.8 L, Man(5), Regular | 26 | 33 | 29.2 |
20 | small cars | Ford Focus 4 cyl, 2 L, Man(5), Regular | 24 | 35 | 29.0 |
21 | small cars | Scion xD 4 cyl, 1.8 L, Auto(4), Regular | 26 | 32 | 28.7 |
21 | Hatchback | Scion xD 4 cyl, 1.8 L, Auto(4), Regular | 26 | 32 | 28.7 |
21 | Station Wagons | Scion xD 4 cyl, 1.8 L, Auto(4), Regular | 26 | 32 | 28.7 |
22 | small cars | Nissan Sentra 4 cyl, 2 L, Automatic (CVT), Regular | 25 | 33 | 28.6 |
22 | family sedans | Hyundai Elantra 4 cyl, 2 L, Auto(4), Regular | 25 | 33 | 28.6 |
23 | small cars | Chevrolet Aveo 5 4 cyl, 1.6 L, Man(5), Regular | 24 | 34 | 28.5 |
23 | small cars | Chevrolet Aveo 4 cyl, 1.6 L, Man(5), Regular | 24 | 34 | 28.5 |
23 | Hatchback | Chevrolet Aveo 5 4 cyl, 1.6 L, Man(5), Regular | 24 | 34 | 28.5 |
23 | Hatchback | Chevrolet Aveo 4 cyl, 1.6 L, Man(5), Regular | 24 | 34 | 28.5 |
24 | small cars | Nissan Versa 4 cyl, 1.8 L, Man(6), Regular | 26 | 31 | 28.3 |
25 | SUV | Saturn Vue Hybrid 4 cyl, 2.4 L, Automatic 4-spd, Regular | 25 | 32 | 28.2 |
26 | SUV | Ford Escape Hybrid 4WD 4 cyl, 2.3 L, Automatic (CVT), Regular | 29 | 27 | 28.1 |
26 | SUV | Mazda Tribute Hybrid 4WD 4 cyl, 2.3 L, Automatic (CVT), Regular | 29 | 27 | 28.1 |
26 | SUV | Mercury Mariner Hybrid 4WD 4 cyl, 2.3 L, Automatic (CVT), Regular | 29 | 27 | 28.1 |
27 | small cars | Ford Focus 4 cyl, 2 L, Auto(4), Regular | 24 | 33 | 28.1 |
27 | small cars | Hyundai Accent 4 cyl, 1.6 L, Auto(4), Regular | 24 | 33 | 28.1 |
27 | small cars | Pontiac G5/Pursuit 4 cyl, 2.2 L, Man(5), Regular | 24 | 33 | 28.1 |
27 | small cars | Chevrolet Cobalt 4 cyl, 2.2 L, Man(5), Regular | 24 | 33 | 28.1 |
27 | family sedans | Hyundai Elantra 4 cyl, 2 L, Man(5), Regular | 24 | 33 | 28.1 |
27 | Coupes | Pontiac G5/Pursuit 4 cyl, 2.2 L, Man(5), Regular | 24 | 33 | 28.1 |
28 | Station Wagons | Pontiac Vibe 4 cyl, 1.8 L, Auto(4), Regular | 25 | 31 | 27.7 |
28 | Station Wagons | Toyota Matrix 4 cyl, 1.8 L, Auto(4), Regular | 25 | 31 | 27.7 |
29 | small cars | Mazda 3 4 cyl, 2 L, Man(5), Regular | 24 | 32 | 27.6 |
29 | small cars | Nissan Versa 4 cyl, 1.8 L, Auto(4), Regular | 24 | 32 | 27.6 |
29 | family sedans | Chevrolet Malibu Hybrid 4 cyl, 2.4 L, Auto(4), Regular | 24 | 32 | 27.6 |
29 | family sedans | Kia Spectra 4 cyl, 2 L, Auto(4), Regular | 24 | 32 | 27.6 |
29 | family sedans | Saturn Aura Hybrid 4 cyl, 2.4 L, Auto(4), Regular | 24 | 32 | 27.6 |
29 | Hatchback | Saturn Astra 2DR Hatchback 4 cyl, 1.8 L, Manual 5-spd, Regular | 24 | 32 | 27.6 |
29 | Hatchback | Saturn Astra 4DR Hatchback 4 cyl, 1.8 L, Manual 5-spd, Regular | 24 | 32 | 27.6 |
30 | small cars | Nissan Sentra 4 cyl, 2 L, Man(6), Regular | 24 | 31 | 27.2 |
31 | small cars | MINI Cooper S 4 cyl, 1.6 L, Automatic (S6), Premium | 23 | 32 | 27.1 |
31 | small cars | MINI Clubman S 4 cyl, 1.6 L, Automatic (S6), Premium | 23 | 32 | 27.1 |
31 | small cars | Chevrolet Aveo 5 4 cyl, 1.6 L, Auto(4), Regular | 23 | 32 | 27.1 |
31 | small cars | Chevrolet Aveo 4 cyl, 1.6 L, Auto(4), Regular | 23 | 32 | 27.1 |
31 | family sedans | Nissan Altima 4 cyl, 2.5 L, Man(6), Regular | 23 | 32 | 27.1 |
31 | luxury sedan | Mercedes-Benz E320 Bluetec 6 cyl, 3 L, Auto(L7), Diesel | 23 | 32 | 27.1 |
31 | Hatchback | Chevrolet Aveo 5 4 cyl, 1.6 L, Auto(4), Regular | 23 | 32 | 27.1 |
31 | Hatchback | Chevrolet Aveo 4 cyl, 1.6 L, Auto(4), Regular | 23 | 32 | 27.1 |
31 | Coupes | Nissan Altima Coupe 4 cyl, 2.5 L, Man(6), Regular | 23 | 32 | 27.1 |
31 | Convertibles | MINI Cooper Convertible 4 cyl, 1.6 L, Man(5), Premium | 23 | 32 | 27.1 |
32 | small cars | Nissan Sentra 4 cyl, 2.5 L, Automatic (CVT), Regular | 24 | 30 | 26.7 |
32 | Hatchback | Saturn Astra 2DR Hatchback 4 cyl, 1.8 L, Automatic 4-spd, Regular | 24 | 30 | 26.7 |
32 | Hatchback | Saturn Astra 4DR Hatchback 4 cyl, 1.8 L, Automatic 4-spd, Regular | 24 | 30 | 26.7 |
33 | small cars | Mazda 3 4 cyl, 2 L, Auto(S4), Regular | 23 | 31 | 26.6 |
33 | small cars | Suzuki SX4 Sedan 4 cyl, 2 L, Auto(4), Regular | 23 | 31 | 26.6 |
33 | family sedans | Nissan Altima 4 cyl, 2.5 L, Automatic (CVT), Regular | 23 | 31 | 26.6 |
33 | Coupes | Audi TT Coupe 4 cyl, 2 L, Auto(S6), Premium | 23 | 31 | 26.6 |
33 | Coupes | Nissan Altima Coupe 4 cyl, 2.5 L, Automatic (CVT), Regular | 23 | 31 | 26.6 |
33 | Sports/Sporty Cars | Audi TT Coupe 4 cyl, 2 L, Auto(S6), Premium | 23 | 31 | 26.6 |
34 | small cars | Chevrolet Cobalt 4 cyl, 2.4 L, Man(5), Premium | 22 | 32 | 26.5 |
34 | small cars | Pontiac G5/Pursuit 4 cyl, 2.4 L, Man(5), Premium | 22 | 32 | 26.5 |
35 | Hatchback | Dodge Caliber 4 cyl, 1.8 L, Man(5), Regular | 24 | 29 | 26.3 |
36 | family sedans | Kia Spectra 4 cyl, 2 L, Man(5), Regular | 23 | 30 | 26.2 |
37 | SUV | Toyota Highlander Hybrid 4WD 6 cyl, 3.3 L, Automatic (CVT), HEV, Regular | 27 | 25 | 26.1 |
38 | small cars | Pontiac G5/Pursuit 4 cyl, 2.2 L, Auto(4), Regular | 22 | 31 | 26.1 |
38 | small cars | Chevrolet Cobalt 4 cyl, 2.2 L, Auto(4), Regular | 22 | 31 | 26.1 |
38 | Coupes | Pontiac G5/Pursuit 4 cyl, 2.2 L, Auto(4), Regular | 22 | 31 | 26.1 |
Rankings for the Most Fuel Efficient Cars of 2008
The rankings for this list of the most fuel efficient cars in 2008 was based on the combined fuel economy (45% highway, 55% city). Since fuel economy is so dependent on the engine type, the EPA breaks down the vehicle by engine type. So, even though the list seems to be repeating itself, it's not.
The numbers shown are based on the new EPA MPG testing. The old ratings were not very realistic, leading to many complaints about not getting the fuel economy they were promised. And although many predicted that hybrids would be affected more than others, they are still there at the top.
UPDATE (May 30, 2008): The following paragraph is no longer true since I've gone back to update the list. But I would still like to hear from you if you see a car that's not on the list.
All cars on this list are 2008 model year. Notice that the 2008 Saturn Vue Greenline Hybrid is not on the list. For some reason it's not up on the fueleconomy.gov website, yet. If it was, in would be right up there with the top ranked vehicles. But since it's not there, I decided to keep it off the list.
You may notice other vehicles that are not on the list. If you do, please let me know in the comments below. When I come back to update the list, I'd like to get it right.
Thursday, June 5, 2008
Fuel protests erupt in India, Malaysia
By EILEEN NG – 8 hours ago
KUALA LUMPUR, Malaysia (AP) — Protests broke out in India and Malaysia on Thursday as consumers reacted angrily to sharp fuel price hikes that could undermine governments in both countries.
With global oil prices soaring, authorities in the two countries said a day earlier they were slashing fuel subsidies that were draining government coffers.
In Malaysia, gasoline pump prices jumped 41 percent overnight and diesel prices surged a stunning 67 percent.
The gasoline price hike in India, the second this year, was smaller — about 11 percent in the capital, New Delhi — but will still weigh on consumers. India also raised prices on diesel and cooking gas.
The most pronounced protests were in India's West Bengal state, where schools and businesses were closed and flights and trains canceled. Shops were also shuttered and roads emptied in the southern state of Kerala, with protests also reported in the central city of Indore.
India's communist parties, which control both Kerala and West Bengal, have called for a week of protests across the country, saying import duties on oil should be further cut instead of raising retail prices.
In Malaysia, long lines of vehicles formed at gasoline stations overnight to fill up before midnight when the new pricing came into effect, and brawls broke out as some motorists tried to cut in line.
On Thursday, gas stations were mostly deserted. The opposition Democratic Action Party staged a small protest in downtown Kuala Lumpur and vowed more rallies to demand the government back down from the plan.
"There is a sense of public outrage ... both on the increase and the manner in which it was done," said DAP chief Lim Kit Siang.
But many Malaysians appeared resigned to the cut in fuel subsidies.
"If we don't increase the fuel price now, the economy will go down," said Chong Wai Ket, a 29-year-old shopkeeper in Kuala Lumpur.
PROTES, an anti-inflation coalition of opposition parties and other groups, is planning rallies nationwide which will peak in a mass demonstration in Kuala Lumpur on July 12, said a coalition leader Hatta Ramli.
"We are hoping for 100,000 people to turn up. We want the government to revert to yesterday's price," said Hatta, who is also a member of the opposition Pan-Malaysian Islamic Party.
Like many Asian countries, Malaysia, is struggling with a spiraling fuel subsidy bill that may breach $14 billion this year as global oil prices skyrocket.
India, which imports 75 percent of the crude oil it needs, has said the hikes will help cover losses at state-run oil companies which have been unable to pass on to consumers the higher fuel costs due to price controls.
Government finances have been strained as crude oil prices doubled over the last year, spiking above $135 a barrel last month before falling back to the $122 range Thursday.
Indonesia, Taiwan and Sri Lanka have also recently raised fuel prices.
In Malaysia — which had some of Southeast Asia's lowest gasoline prices — gasoline jumped from the equivalent of $2.32 a gallon to $3.31 a gallon.
In India, gasoline was raised 5 rupees per liter. In New Delhi, that lifted the pump prices to 50 rupees a liter, or $4.56 a gallon. Fuel prices vary between states, which also impose their own taxes. Singh has urged states to lower taxes to ease the burden for the people.
The fuel price hike is expected to send prices of food, transportation and other essentials higher across the board, piling further inflationary pressure on India and Malaysia. India's inflation is currently at 8 percent and Malaysia at 3 percent.
Protests over the price hikes may further weaken Prime Minister Manmohan Singh's government ahead of an election in India by the middle of next year, analysts said.
In Malaysia, Prime Minister Abdullah Ahmad Badawi faces increasing risks as he fights for his political survival after shock election losses in March.
"It's going to be hard for people to accept. There will be an immediate adverse effect on (Abdullah's) popularity," said Ibrahim Suffian, director of independent think-tank Merdeka Center of Opinion Research.
Associated Press reporters Manik Banerjee in Calcultta and Julia Zappei in Kuala Lumpur contributed to this report.
From the looks of the blatant scam and manipulation of the big oil crime syndicate, things are going to get worse before they get any better!
Tuesday, June 3, 2008
HHO Gas, also referred to as Browns Gas or Oxyhydrogen, is extracted from water through the process of electrolysis। By modifying you car's engine to burn HHO, you can save at least 40% on your fuel cost
Browns Gas is also very safe. Unlike storing large volumes of raw hydrogen that are highly flammable, with this system hydrogen is produced steadily and in small quantities.
Why haven't we heard of this technology?
Although this technology has been known for many years (Nicola Tesla had discovered that water can be used as a fuel, almost a century ago), it was kept hidden from the public. Economical and political reasons prevented this technology from being publicized. But now this system is becoming more and more popular and has been simplified enough for anyone to use.
- Your car will be at least 40% more fuel efficient and you can start saving thousands of dollars on gas per year.
- You will cut down on harmful carbon emissions and protect your health and the environment.
- You will boost your engine's performance.
O - You can decrease the noise levels of your engine.
- You will reduce you car's maintenance costs.
- You can save on taxes for driving a vehicle that is friendly to the environment.
- Your car's engine will last longer.
Instead of buying a hybrid, which is not a very affordable solution, you can turn your own car into a hybrid.
The HHO conversion is such an easy process that you can do it all by yourself, even if you have minimal mechanical skills. All the parts you will need for the engine's modification, are available in any hardware store and in general don't cost more than $60. This process is completely reversible and won't void your warranty.
Some of the things you will need are: baking soda, a sealed quart size container, electrical wiring, some vacuum hose and of course water. To separate the water molecules into hydrogen and oxygen, you will have to pass an electrical current from your car's battery into the water. After that, the Oxyhydrogen that has been produced will be introduced into your car's manifold.
Apart from converting your own car into a hybrid, you can also help your friends and family assemble a device for their cars as well. You can even make money by doing so!
Thousands of people around the globe have already started using Oxyhydrogen as a fuel.
You too can benefit from this technology.
Discover the best way to Convert Your Car to Run on Browns Gas and cut your gas bills in half. Find out which is the most reliable and effective HHO Gas Car Kit that can provide you with step-by-step instructions and guide you through the conversion process.
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