Hydrogen cars may go into production by 2015, but skeptics in the technology include President Obama. That could disrupt government funding and slow research. Officials say electric vehicles are more promising in the near term.
In an unexpected move the Obama administration has announced its plan to release 30 million barrels of oil from the nation's strategic reserve. This move comes despite adequate global supplies of petroleum and falling gasoline prices in the U.S. Many see this as political prior to the 2012 presidential election. The amount of oil to be released is only two days worth of normal consumption and is unlikely to have a long-term effect on oil markets.
The rule of thumb says that a car loses at least 10 percent of its value the moment it leaves the dealership. But soaring used-car values are turning that formula on its head for many fuel-efficient vehicles, which are suddenly in high demand as Americans fret about escalating gas prices and do not want to pay for a new car. Used cars over all are retaining a higher percentage of their original value than ever before, according to auto analysts who track prices. Compact cars that are one to five years old are worth, on average, about 30 percent more on the wholesale market now than just six months ago.
ALTe Powertrain Technologies has a three-year deal with Remy Electric Motors. Remy's powerful motor is now being used in a fair amount of vehicles coming to market, and Remy will be working with ALTe on plug-in hybrid technology for commercial, government, and utility end users. Initially, conversion specialist ALTe will focus solely on light- to medium-duty delivery trucks, vans, and shuttle buses.
While corn ethanol has supporters and powerful farm lobbyists in Washington, the mood in the capitol, and in the auto industry, has been shifting away from the alternative fuel recently. The House could likely join the Senate in eliminating nearly $6 billion a year in subsidies for ethanol production. While automakers, especially GM, have been supportive of ethanol in recent years, that has started to turn.