The December 10, 2010, Consumer Reports (CR) “cars blog” review on the Chevrolet Volt plug-in hybrid electric vehicle (PHEV) could be summed up in three words: Not so impressive.

Eaton Corp., an Ohio-based industrial manufacturer, said consumers of its hybrid systems have collectively accumulated more than 100 million miles of service and have cumulatively saved 4 million gallons and 40,000 metric tons of greenhouse gas (GHG) emissions.

The leader of OAO Novatek, Russia’s second-largest natural gas producer now owns a 50% stake in the country’s largest petrochemical firm – Sibur – from Gazprombank, which analysts estimate is worth some US$4 billion.

U.S. crude inventories fell by 1.3 million barrels – lagging analyst projections – and refined product stocks were mixed, according to the Energy Information Administration (EIA) report for the week ended December 24.

China’s commerce ministry in Beijing announced December 28 a sharp reduction in export quotas for rare earth metals in the first months of 2011 – a move that threatens to cause further problems for producers already struggling with short supplies and soaring prices.

NYMEX light sweet crude for February delivery settled at US$89.84 per barrel (/bbl), down $1.28 on December 30, as end-of-year length liquidation and profit taking overrode a weaker dollar and supportive inventory data.

The U.S. Maritime Administration (MARAD) announced December 29 that it will conduct public meetings February 4, 15 and 23 to discuss an in-development “Great Lakes Fleet Revitalization Study” focused on possible financing options for complying with upcoming emissions rules for diesel-powered shipping.

A U.S. Court of Appeals rejected the request by the State of Texas to delay the imposition of the U.S. Environmental Protection Agency (EPA) greenhouse gas rules – scheduled to take effect on January 1, 2011, according to a December 30 Reuters report.