While proponents of alternative fuels and powertrains push various schemes to cut carbon dioxide emissions from cars, the best way to slash CO2 is via cutting the size and weight of conventional cars, according to a new Oxford University study.

Hydro-Québec and Mitsubishi Motors officials last week inked a memorandum of understanding that will lead to the launch of Canada’s largest all-electric vehicle pilot project this coming fall.

For the third consecutive trading day, crude futures fell Jan. 22. The price of West Texas Intermediate (WTI) crude for March delivery settled at US$74.54 per barrel (bbl), down$1.54, while Brent crude for March delivery fell $1.75, to close at $72.83/bbl.

Valero recently announced its intentions to resolve a tax dispute on its idled Aruba refinery. Potential buyer, PetroChina, noted to the press that it cannot consider purchasing the facility until the tax dispute is resolved.

Rationalization of U.S. refining assets will eventually result in noticeable increases in refined product imports. Regional imbalances in transportation fuel prices are also apparent from recent plant closures.

The 3-2-1 crack spread for the Gulf Coast experienced a 25.25% decrease from US$7.89 per barrel (/bbl) to $5.90/bbl for the week ending Jan. 15, and the New York 3-2-1 crack spread decreased 24.48% from $8.25/bbl to $6.23/bbl for the same period.

With NYMEX crude prices around the US$76 per barrel (/bbl) mark, U.S. Gulf Coast spot prices for aromatics remained flat for the week ending Jan. 21. Meanwhile, the spot MTBE price fell 2¢ from Jan. 14, settling at US$2.35/gal. The price of n-Butane gained 14¢, closing at $1.63/gal for the same reporting period. Ethanol fell12¢ to $1.44/gal, and isobutane gained 7¢ to $1.78/gal.

With the U.S. Senate now seen unlikely to pass “greenhouse” emissions legislation this year, the focus shifts to upcoming U.S. Environmental Protection Agency (EPA) carbon-control regulation – where a back-door “low carbon fuel standard” (LCFS) could emerge.

U.S. Senator Lisa Murkowski (R-Alaska) offered a measure Jan. 21 to overturn the Environmental Protection Agency's (EPA) plans to regulate greenhouse-gas emissions, putting a new edge on a conflict over environmental policy, according to The Wall Street Journal.

U.S. pollster Frank Luntz presented new poll findings that indicate the American people are eager for Congress to act on climate legislation that would promote energy independence and a healthier environment.

Abu Dhabi’s Masdar officials announced Jan. 20 that they signed a memo of understanding with Alberta, Canada’s Ministry of Energy to collaborate on research into carbon capture and storage (CCS).