Number of the Week: How Many Rigs Are Drilling for Oil?
The figure reflects a huge surge in U.S. oil drilling, up nearly 60% in the past year and the highest total since at least 1987, when oil services company Baker Hughes Inc. began keeping track.
The drilling boom is being driven by a variety of factors. New technologies have allowed companies to tap vast new oil reserves in places like North Dakota, Texas and, most recently, Ohio. High oil prices are making once-unprofitable fields more tempting. And low natural-gas prices are leading companies to shift their focus to finding oil. Natural-gas drilling, which generally uses the same rigs but in different places, is down 8% in the past year.
All that drilling is helping to boost U.S. oil production. The U.S. pumped 3.9 million barrels a day from onshore fields in March, up 5.9% from a year earlier and the most in nearly a decade.
Rising productionalong with other factors such as increased use of alternative fuels and reduced consumption due to more fuel-efficient carsis helping to make the U.S. less dependent on foreign oil. U.S. crude oil imports last week were down 11% from a year ago; on a percentage basis, the U.S. imported less of its oil last year than any year since 2003.
The trend may not continue, however. Oil prices have fallen to about $85 a barrel in recent weeks, down sharply from their highs of well over $100 a barrel last spring. The drop wont make companies stop drilling, but lower prices combined with higher costs could be enough to slow the rig counts rapid rise.
Are gas prices really going down? Yeah, right! I’ll believe that when it hits MY pump! All I know is that I am tired of paying huge gas prices. I found a new type of Auto Club. I use their membership gas card by sticking it into gas pump and it gives me 10% right back to my account for the gas purchase. It is really no hassle, a no brainer. With money we save, we enjoy more trips, movies and family fun stuff. You can check them out at http://gaspainrelief.mygasdiscount.net , the more that are doing this the more they can discount – its kinda like Cosco or Sam’s Club in that way.
The Worlds Least Fuel Efficient Car - News
Rising production—along with other factors such as increased use of alternative fuels and reduced consumption due to more fuel-efficient cars—is helping to make the US less dependent on foreign oil. US crude oil imports last week were down 11% from a
That's a salient point, given that BMW, one of the least fuel efficient auto makers to sign onto the new plan, said specifically in a July 27 letter that “the… mid-term evaluation described by the EPA and NHTSA… is critical, given BMW Group's view of
23, 2011 /PRNewswire-USNewswire/ -- After Fiat's being out of the US car market for nearly 30 years, Consumer Reports' tests of the Fiat 500 revealed it to be a fun-to-drive car in tests of fuel-efficient vehicles in the magazine's October issue.
Small, cheap, fuel efficient gas cars like Chevy Cruze or Ford Focus could continue to see relatively strong sales, but the real-world efficiency of these cars still lags well below that of hybrid and electric vehicles, and a failure of consumers to
The new standards will cut fuel consumption by more than 40 percent from current levels, advocates say. Fuel-efficient cars and trucks, especially those with advanced powertrains such as hybrid, electric, or flex-fuel vehicles, cost more than
Most Fuel Efficient Cars: Top 10 List 2011-2012
At one time in the summer of 2008, gas prices average around $4.50/gallon in the U.S. After the summer of 2008, gas prices plummeted down to $2.00/gallon and people were beginning to enjoy going out more. However, as of April 2011, the price is already $4.00/gallon and it is predicted that it will reach over $5.00/gallon within the next year or so. 10. Ford Escape Hybrid : 34 City/31 Hwy (32 Combined), Base Price: $30,110. 2.5-liter, 4-cylinder with 171 hp. The Ford Escape Hybrid is the most fuel efficient SUV in the world. It has better gas mileage than most passengers cars and at the same time, it can also performed heavy duty jobs.
10. Toyota Yaris vs Toyota Corolla. Which Toyota vehicle would you rather own? The Yaris is definitely a better buy, but it is smaller than the average sedan and it functionality is very limited.
Toyota Yaris: 29 City/35 Hwy, Base Price: $11,350.
Toyota Corolla : 28 City/37 Hwy, Base Price: $15,250.
9. Mini Cooper : 28 City/37 Hwy, Base Price: $18,700. Engines: 118hp 1.6 L I4. A small vehicle that can also be purchased as a convertible.
10. Honda Fit vs Ford Focus vs Honda Civic. Which do you prefer out of these 3 cars? All 3 cars are under $16,000 and they will get you around 30-miles per gallon of gas.
Honda Fit : 28 City/34 Hwy, Base Price: $13,950.
Ford Focus: 24 City/35 Hwy, Base Price: $14,395
Honda Civic: 26 City/34 Hwy, Base Price: $15,010
Special Car - Honda Civic GX (run on natural gas) : 24 City/36 Hwy, Base Price: $24, 590. 113-hp, 1.8-Liter, 16-Valve, SOHC i-VTEC® 4-cylinder engine. This is probably the most fuel efficient car because natural gasoline costs less than $2.00 a gallon. However, this isn't on the top 10 list because it is currently only available in NY and CA and it is very limited. You probably won't find a natural gas pump at your regular gas station, that is why Honda sells an at home pump you can plug into your home's natural gas line. A full tank (8 gallons) can travels approximately 170 miles and fueling stations are very limited; make sure to plan your trip correctly if you own a Civic GX.
The Worlds Least Fuel Efficient Car - Bookshelf
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