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Ford to give HD Radio a huge boost

Ford's decision to make HD Radio receivers a standard dealer-installed option across all of its models has finally given the technology the boost it needs to be more than a niche for audio fans, according to the Detroit Free Press's Mike Wendland

I remember the first time I heard HD Radio. It was at the Consumer Electronics Show in Las Vegas in 2002. It blew me away. AM stations sounded like FM stations. Music playing on FM stations sounded like a CD.

But what has stalled widespread HD Radio's adoption up to now has been the hassle of having to yank out the old radio receiver from the dashboard and replace it with a new one.

With radio controls embedded in the steering wheel on some models, that just became too painful for many consumers. The HD receivers have also been expensive, as much as $700.

Posted by Peter C. T. Elsworth  at 3:32 PM to Ford , Technology | Permalink | Comments 0

Dingell unveils draft of gas tax

WASHINGTON -- U.S. Rep. John Dingell says his proposed plan for curbing greenhouse gases through higher taxes will likely include a "cap and trade" system for controlling carbon dioxide favored by several other lawmakers, and could give Detroit automakers an opening to sell more diesel-powered vehicles, according to the Detroit Free Press.

The Dearborn Democrat unveiled a draft outline of his proposal on his Web site today calling for a 50-cent-per-gallon increase in gasoline taxes and a $50-per-ton levy on carbon emissions from fossil fuels.

Posted by Peter C. T. Elsworth  at 3:29 PM to Alternative fuels | Permalink | Comments 0

Oil Surges on Supply, Iran Worries

NEW YORK -- Oil and other petroleum futures surged Thursday amid supply concerns sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran, according to the Associated Press.

The U.S. is trying to raise support for new U.N. sanctions against Iran over its nuclear programs. Iranian President Mahmoud Ahmadinejad says the nuclear issue is "closed," and has vowed to defy any U.N. sanctions.

Many traders are betting the West will take action against Iran before the end of the year, and worry that economic sanctions or a military strike will result in the disruption of oil supplies from the Middle East, Gheit said.

November light, sweet crude jumped $2.58 to settle at $82.88 a barrel Thursday on the Nymex, while October gasoline rose 6.65 cents to settle at $2.0939 a gallon.

Posted by Peter C. T. Elsworth  at 3:24 PM to Crude oil market , Gas prices | Permalink | Comments 0

Chrysler, Ford deals may mirror GM accord

With a tentative agreement in hand with General Motors, the UAW expects to move quickly to lock in similar labor contracts with Chrysler and Ford, according to the Detroit Free Press.

"I think the pattern bargaining is still very much in play," UAW President Ron Gettelfinger said shortly after announcing the GM deal. "We expect this will basically be the same agreement."

Gettelfinger suggested that the UAW may try to finish up talks with Chrysler and Ford simultaneously.

During the past two contract talks, it took the UAW between 20 and 40 days from the day the first tentative agreement was reached until deals with all three automakers were ratified. If that holds true, a deal with all three of Detroit's automakers could be wrapped up in a month.

Posted by Peter C. T. Elsworth  at 9:35 AM to Auto industry , Chrysler , Ford , GM , Unions | Permalink | Comments 0

A new U.S. auto industry emerges

General Motors and the UAW bet their futures on a dramatic new labor agreement Wednesday that could ensure the survival of both -- making GM more competitive against its foreign rivals and helping the union stanch the loss of members, according to the Detroit Free Press.

More broadly, the proposed labor contract has the potential to shape a new Detroit auto industry that can compete on a more-level playing field with Toyota Motor Corp. and other foreign rivals not burdened by huge retiree legacy costs built up over the 20th Century. Also, the agreement has the potential to recast the UAW -- often dismissed as an industrial relic -- and give it more clout in the national health care debate.

The landmark feature of the UAW's tentative deal with GM is a controversial retiree health care trust that would shift tens of billions of dollars of retiree medical, hospital and prescription costs to the UAW and off GM's books.

The agreement, which ended the first national strike against GM in 37 years, will serve as the template for new agreements at Chrysler LLC and Ford Motor Co.

Posted by Peter C. T. Elsworth  at 9:32 AM to Auto industry , GM , Unions | Permalink | Comments 0

Chevron Approves $15 billion Buyback Program

SAN FRANCISCO -- Enriched by high oil prices, Chevron Corp. will spend up to $15 billion buying back its own stock - a commitment that pleased shareholders and rankled critics clamoring for bigger investments in projects that might help lower energy costs, according to the Associated Press.

The three-year repurchase program announced Wednesday served as yet another reminder of the cash cascading into the oil industry while motorists have been trying to cope with higher gasoline bills.

The dichotomy has triggered Congressional threats to repeal some of the industry's tax breaks or impose a special tax on profits above a certain threshold.

Posted by Peter C. T. Elsworth  at 9:25 AM to Gas prices | Permalink | Comments 0