-
Obama wants $2 billion from oil industry for clean-energy transportation research
TransportPresident Barack Obama is pressing Congress to create a $2 billion clean-energy research fund with fees paid by oil and gas producers to help lower U.S. dependence on oil. Obama will announce the congressional challenge today at the Argonne National Laboratory in Lemont, Illinois, one of the Energy Department’s largest labs for scientific and engineering [...]
-
Bahamas turns to oil exploration in face of mounting debt
DestinationsThe Bahamas government approved offshore oil exploration as the island nation seeks new revenue to help reduce its debt burden, Environment & Housing Minister Kenred Dorsett said. Exploration will probably begin this year to gauge if the archipelago contains enough oil to be commercially viable, Dorsett said in a statement yesterday. Oil estimates from the [...]
-
Ecuadorian indigenous community struggles to balance big oil and ecotourism
DestinationsWhile they were growing up in their remote community deep in the Ecuadorean Amazon, Blanca Tapuy and her sister Innes were inseparable. As children, they would play together while their parents hunted monkeys and tapir with blowpipes and spears. After they married, they regularly met to drink chicha and keep up with the latest gossip [...]
-
Despite claims, Ryanair planes were not skimping on fuel during Spain re-routings
TransportThree Ryanair aircraft forced to make emergency landings in Spain were carrying sufficient fuel when they took off, but the airline should still review its fuel policy, the Irish Aviation Authority (IAA) has said.
On July 26, the planes, which were bou…
-
JetBlue’s founder says he’s on a mission to lower fuel costs
TransportDavid Neeleman, the serial entrepreneur with four successful airlines under his belt, is looking to tackle one of aviation’s most acute problems: the price of jet fuel. The notion of converting a gas into a liquid jet fuel is not as technically far-fetched as it may initially sound. In Qatar, Shell (RDSA) has built an $18 billion [...]
-
Small hotels say they’re being railroaded by BP’s Gulf Coast disaster settlement
RoomsOwners of small hotels on the Florida and Texas Gulf coasts say a proposed settlement unfairly excludes thousands in the tourism industry who suffered economic damages in the 2010 oil spill. The Asian American Hotel Owners Association says the settlement between BP and a committee representing claimants sets arbitrary geographic boundaries including the entire coasts [...]
-
After years of rapid growth European carriers are cutting flights and routes
TransportAir passengers face higher fares, fewer flight choices and crowded aircraft as European carriers trim seating capacity growth or cut routes altogether, as they battle to salvage profits and fend off the impact of rising fuel prices. With jet fuel prices near record highs at the same time as taxes and airport charges rise, airlines [...]
-
The market likes that airlines are passing along fuel costs to consumers in ticket prices
TransportAirline stocks gain ground on fare hike meant to protect against rising cost of fuel
NEW YORK (AP) — Shares of U.S. airlines gained Monday following a successful attempt to raise fares to cover the rising cost of fuel.
Sou…
-
Saudi Arabia plans to build first electric subway train for capital city
TransportSaudi Arabia, which is trying to curb domestic fuel consumption, said it shortlisted four groups to submit bids to build the first electrical subway train network linking major areas of its capital city, Riyadh. The four groups should present their financial and technical bids for the project within four months, the Saudi Press Agency said [...]
-
The world’s airlines are going to be OK, says Moody’s
TransportMoody’s Investors Service says the world’s airlines enjoy a stable outlook despite the high cost of jet fuel and weak economies.
