China has now surpassed the U.S. as the world’s biggest new-car market, according to official statistics.

Clean-diesel cars and gasoline-electric hybrids now can beat conventional gasoline cars on total cost of ownership in the U.S., according to a new study.

Researchers are trying to figure out whether a vehicle mileage tax could practically substitute for today’s vehicle fuel excise taxes, according to a study to be completed by September of next year.

The August NYMEX crude oil future price closed 0.5% higher yesterday, to US$60.41 per barrel, on reports that bargain hunters are taking advantage of low prices on the gasoline market.

Chevron’s interim update on second quarter earnings generally point to lower earnings compared to the first quarter. International downstream results in the second quarter are expected to include adverse timing effects due to the substantial increase in crude oil and refined product prices between the beginning and end of the quarter.

A South Dakota state board will hear testimony next week on whether Hyperion Resources should be granted an air permit for its proposed 400,000-barrel-per-day greenfield refinery.

U.S. senators Maria Cantwell (D-Wash.) and Olympia Snowe (R-Maine) calling on the Commodity Futures Trading Commission to put more restriction on Intercontinental Exchange.

CFTC’s call for public hearings this summer on alleged “excessive speculation” in energy markets drew a strong rebuke from Europe’s ICE futures exchange.

Sen. Robert Menendez (D-N.J.) introduced a bill to encourage the use and development of natural gas vehicles in the U.S. The NAT GAS Act was co-sponsored by Sen. Orrin Hatch (R-Utah) and Senate Majority Leader Harry Reid (D-Nev.).

Big ocean ships face proposed U.S. EPA regulations on bunker fuel and emissions; public hearings will be held August 4 and August 6.