One of the USA's largest refiners, Citgo is a subsidiary of Venezuela's state-owned oil company, Petroleos de Venezuela S.A. (PDVSA). As such, it ultimately belongs to Venezuelan President Hugo Chávez, an avowedly anti-American leader who counts Fidel Castro among his closest friends and mocks President Bush as a "genocidal murderer."
The question of Chávez's influence over Citgo was highlighted by the company's recent provision of 25 million gallons of subsidized home-heating oil to poor people in the northeast USA. More than 100,000 households in four states should eventually benefit from the low-cost heating aid.
But some worry that Venezuela's ownership of more than 6% of U.S. refinery capacity gives Chávez, a former paratrooper given to wearing red berets and military fatigues, the power to cripple as well as comfort.
As Hurricanes Katrina and Rita demonstrated, any disruption to the nation's refining industry instantly increases gas prices. What if Chávez, who periodically threatens to curtail oil shipments to the USA, closed Citgo's refineries?
"He'd only have to do that for 90 days, and he'd destroy our economy," worries Matthew Simmons, a prominent energy investment banker. "He actually has our livelihood in his hands."
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As of now all 23 crew members have been air lifted off the Cougar Ace but the fate of the vehicles is unknown. All the cars are secured on the ship before transport but from the angle the ship is sitting at it is unknown whether or not they have remained in place.
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Porsche's Plan to Purchase Controlling Interest of Volkswagen Approved!
What may be the quintessential sports car maker, Porsche, announced plans to seek a controlling interest in the Wolfsburg-based automotive giant Volkswagen group last month, submitting a proposal to German anti-trust authorities to gain clearance to purchase the remaining stock required. Already owning 21.2 percent of VW (Porsche owned 18.5 percent earlier this year but it has purchased most of its 3.4 percent available options in recent months), Porsche and the Peoples Car have had a longstanding and successful relationship, dating all the way back to Ferdinand Porsches design of the Beetle.
During World War II, VWs production line tooled up for military vehicles, and the basic Beetle chassis (and even shape) was used in the Kubelwagen utility vehicle and even the amphibious and aptly named Shwimmwagen. After the war, Volkswagen was decimated; quite literally. Allied bombing left the factory in ruins, and as a producer of military goods, everything was seized for reparations. Put under the command of an Englishmen, the factory was considered useless until the English commander painted one of the Beetles green and shipped it back to Allied Headquarters as a demonstrator. Shortly thereafter, the Allied forces within Germany, sorely lacking transportation, opted to purchase 20,000 of the little runabouts.
Fast forward seventy years and little has changed: with the announcement that Volkswagen will build Porsches uber-sedan, the Panamera, the pairs ties are stronger than ever; the two currently sharing the Toureg/Q7/Cayenne platform. As a major parts supplier to the worlds last large-volume independent sports car builder, Volkswagen is obviously incredibly important to Stuttgart, and as such Porsche is not inclined to see Volkswagen fall into the proverbial wrong hands, hence the interest in purchasing the requisite 25.1 percent of Volkswagen stock to give it control.
Porsche has been purchasing Volkswagen stock steadily since they announced a plan to acquire 20 percent of Germanys largest automaker last September, at a cost of $3.8 billion to fend off hostile takeovers, sharing the rest of the stock with Volkswagen and the Government of Lower Saxony. Now, with the approval of the takeover plan being granted late last week, the sports car company is legally allowed to purchase the remaining 3.5 percent needed to gain a controlling interest, effectively putting all fears of a hostile takeover to rest.
he two currently sharing the Toureg/Q7/Cayenne platform. As a major parts supplier to the worlds last large-volume independent sports car builder, Volkswagen is obviously incredibly important to Stuttgart, and as such Porsche is not inclined to see Volkswagen fall into the proverbial wrong hands, hence the interest in purchasing the requisite 25.1 percent of Volkswagen stock to give it control.
Porsche has been purchasing Volkswagen stock steadily since they announced a plan to acquire 20 percent of Germanys largest automaker last September, at a cost of $3.8 billion to fend off hostile takeovers, sharing the rest of the stock with Volkswagen and the Government of Lower Saxony. Now, with the approval of the takeover plan being granted late last week, the sports car company is legally allowed to purchase the remaining 3.5 percent needed to gain a controlling interest, effectively putting all fears of a hostile takeover to rest.
Mazda and Spacedog will announce the world debut of the first book in the Revved series of graphic novels at this year's Comic-Con International - home of North America's largest comic book and multi-genre convention - in San Diego, CA. Revved, to be published by Top Cow Productions and developed into a television series by Fox Television Studios, is truly ground-breaking due to the level of integration and collaboration from concept to execution between Spacedog, Top Cow and Mazda. For an exclusive preview of the first 10 pages of Revved: The Beginning, visit www.mazdausa.com/revved.
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Here's a policy we'd like to see made standard across every border.
Al-Futtaim Motors has promised full-car service on all Toyota and Lexus vehicles within 59 minutes. The policy started last month on the 15th and will end 59 days later on August 12th. Unfortunately, the service only applies to vehicles within the United Arab Emirates (UAE), and it's not worth it for us to drive that far for faster service. All of the chain's service stations in the UAE have also extended their hours to accomodate customers, and each customer will have a chance to win a Toyota Yaris in a prize draw.
'With the number of vehicles on the road on a steady increase, service centres in the UAE are currently faced with time constraints on car servicing, which in turn affect customers," states Kevin Jones, General Manager of Services. "Keeping our customers first, we have tried to combat that inconvenience by putting to work our years of expertise, the specially designed equipment and tools and Toyota's trained technicians, to offer our customers a full car service in just 59 minutes."
Unfortunately, the cited article doesn't say exactly what's included in a "full-car service", so if it takes these guys 59 minutes to change your oil, check the air pressure in your tires, and attempt to sell you new wiper blades, then they should that art has already been perfected and can be performed in 10 minutes.
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The world of Siberian tennis ace Maria Sharapova has changed infinitely since she first went to the US at the age of six.
In those early years, her parents were still struggling to establish themselves in a new country, to the extent that they even couldn't afford a car, the young Sharapova being ferried to tennis lessons on the back of her father's bike.
Toward the end of 2004 Sharapova met the people at Land Rover and was able to get them to organize a Land Rover for her in every city she traveled throughout the world. A little over a year later she signed on as an ambassador for the brand.
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BMW 7 Series ranked most apealing premium luxury for the fifth time in J.D. Power and Associates 2006 appeal study. The study ranked automotive performance, execution and layout apeal. High marks for the X5, 3 Series and 5 Series Sedans helped make the BMW brand second overall. ]]>
The BMW 3 Series, 5 Series, and X5 posted top-three finishes in their respective segments.
Rumor has it the Aston Martin V8 Vantage convertible will be called V8 Roadster.
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Attention thrill seekers, car nuts and racing fans -- Rev It Up, the World's Largest Performance Driving School and National Racing Competition, returns in 2006 with more professional instruction, more adrenaline crazed excitement, and added horsepower thanks to Chevrolet's lineup of performance vehicles.]]>
Rev It Up (RIU), presented by Chevrolet, combines fast cars, challenging courses and expert trainers for a high-energy experience. Competitors only need to sign up, show up, listen up to professional racers, and polish up skills in practice laps driving Chevy vehicles before striding up to the RIU Competition Course for a shot at the National Championship and a brand new Chevy Cobalt SS Supercharged Coupe.
Chevrolet General Manager Ed Peper said, "Chevrolet's line of products make high-performance cars accessible to everyone and Rev It Up gets race fans off the couch and onto the race course. It's a perfect fit. From the Cobalt SS to Corvette, participants will find out why Chevrolet is America's best selling brand."
After receiving training from professional racers, participants will experience firsthand Chevrolet performance vehicles such as the 440hp Corvette, 171hp Cobalt SS, 205hp Cobalt SS Supercharged and 303hp Impala SS.
The six stops currently scheduled on the 2006 tour are:
- Southern California: July 22-23 - El Toro Marine Base
- Dallas: July 29-30 - Lone Star Park
- Miami: August 5-6 - Hialeah Park Racetrack
- Chicago: August 12-13 - Balmoral Park Racetrack
- New York: August 19-20 - Belmont Park Racetrack
- Washington, DC: August 26-27 - FedEx Field
There are a limited number of competition slots available during each RIU weekend, so pre-registration is very highly suggested. The cost is $50.00, or $45.00 if you sign up online at least two weeks in advance at www.RevItUpRacing.com. The first 100 people that register online for each event will be able to enroll for only $40.00, so act fast. Competitors must be at least 18 years old and have a valid driver's license. The event moves forward rain or shine. General admission is free (and open to all ages) for those who just want to check out the action, root on friends and family, or test drive the line of Chevrolet SS cars on site.
The most exhilarating aspect of RIU is the competition where drivers show their stuff in a Cobalt SS for two separate laps on the RIU Competition Course. Upon registration, drivers fill out a questionnaire regarding their previous driving experience. Their answers dictate which of four competition divisions they are assigned, and a fifth group is set up just for female competitors. When racers hit the track, their lap times are indexed to a benchmark "best", laid down by a RIU pro driver. The competitor's time is then converted to a score. At each of the 2006 RIU stops, racers with the best score in each of the five groups will receive a new pair of Piloti driving shoes. The person with the highest score will be named City Champion and receive a reward (TBA).
Competitors will be able to check back at www.RevItUpRacing.com to see how their score matches up with others throughout the United States. When the tour ends in August, the driver with the highest score overall will be crowned RIU National Champion and walk away with a new Chevy Cobalt SS Supercharged Coupe -- a car that, in a slightly modified form, has been whipping all others in the Grand-Am Cup's Street Tuner division.
A RIU visit begins with a brief overview of rules and regulations. Drivers then have five Skills Clinics which they can attend to learn more about performance driving. Two of the Skills Clinics are classroom sessions taught by professionals who have worked at some of the most prestigious racing schools in the world. Students learn about car control, tire dynamics, braking techniques and racing line analysis -- talents that will make them better drivers on either the track or daily commute.
RIU attendees also practice performance driving techniques on three twisty Driving Clinic Courses outlined with orange cones. Pro instructors are on hand at all tracks to provide feedback and tips, and laps are timed so participants can chart their progress or put pressure on compatriots. Each track is uniquely designed to emphasize specific driving techniques and utilizes a Corvette, Impala SS or Cobalt SS Supercharged. Students have up to seven laps they can run on the Driving Clinic Courses, but are allowed only one lap at the Practice Course Driving Clinic. However, additional laps for this specific track can be purchased on site.
RIU competition participants can partake of the Skills Clinics in any order they wish. They can also take advantage of the classroom sessions and track time before, between or after their two Competition Course laps.
A special addition this year to the RIU experience is the inclusion of white-knuckle Hot Laps. For a small additional fee, RIU competitors or general admission visitors can ride "shotgun" in a 505hp Corvette Z06 with a professional racer at the wheel. Passengers get to see and feel how a pro uses masterful car control, pinpoint braking, perfect apex analysis and maximum throttle to careen a lighting fast car around the track. Not only is this experience an adrenaline rush, but it is also a tremendous learning tool as it clearly demonstrates how to execute a fast, safe and accurate lap.
RIU has spiced up the competition even more this year with a Beat the Pro Challenge. Any driver who manages to beat the RIU pro's time on the Competition Course will be rewarded with a racing helmet signed by several of Chevy's professional racing drivers. Only one such prize is up for grabs in each city. However, be forewarned -- the RIU pros are very good and don't like to be beat -- but it has happened before.
For those not participating in the competition, there are plenty of other activities at RIU during a weekend. The very popular racing kart track will be back to provide wheel-to-wheel excitement for a minimal fee, and there is a special Chevy SS Drive Course where people can test drive the entire SS line for free without being hassled by salespeople. The event also includes food and merchandise vendors, as well as exhibits featuring GM Accessories, OnStar, XM Satellite Radio and Goodyear Tires.
Grassroots Motorsports Magazine listed RIU as one of the "20 Things That Rocked Our World in 2003." David Stokols, president of Automotive Marketing Consultants which operates the RIU program, believes that Chevrolet's backing of this unique motorsports event ensures that RIU will again "rock some worlds."
"Chevrolet's performance vehicles have had tremendous success in all aspects of automotive competition, and AMCI is very excited to have the automaker aboard for our Rev It Up program," Stokols said. "AMCI designed the RIU program with the intent of having everyone walk away from the experience with hearts racing, but more importantly, with improved driving skills to be applied daily. With the 2006 RIU program, I think we've fully accomplished that goal."
For more information, go to www.RevItUpRacing.com.
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What would it have been like to be a "fly on the wall" when Henry Ford conceived the Model T or the legendary Rouge facility? Those moments in time are left to the imagination of historians. But, beginning today, Ford is pulling back the curtain and allowing the public to witness what happens behind the scenes at the automaker in an online documentary series called, "Bold Moves: The Future of Ford." The debut episode, entitled "Change or Die," can be viewed at www.fordboldmoves.com.]]>
Thursday Chrysler revealed the all-new 2007 Sebring sedan which is expected to arrive at dealerships late this year. With Chrysler exporting the Sebring to Europe in the first half of 2007.
With the new Sebring Chrysler hopes to take on the segment leaders Honda, and Toyota with an all new Sebring that blends high style and high technology in a totally redesigned car. Pricing has not been announced but Chrysler has revealed that it will be below the Accord and Camry which both start at $18,000.
]]> The 2007 Sebring features dramatic linse with sharp edges and lines in the hood similar to the Chrysler Crossfire. Inside the car will feature side-curtain airbags and antilock brakes as standard equipment with traction control and stability control as options.
As for engine choices the base model will be powered by a 2.4-liter four-cyclinder rated at 172 hp. with a 2.7-liter V-6 and 3.5-liter with six-speed transmission on upper level models.
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Twenty-one of the students squeezed into the old-generation Mini Cooper in just four minutes, with two petite women fitting into the tiny boot. They then stayed in place for 20 seconds, as demanded by the rules of the Guinness Book of Records - and then repeated the stuffy ordeal for a local TV crew which had arrived too late to film them first time round.
The students were, as stated in the rules, all over 1.5m (4ft 11in) tall and were, according to a participant, all 'skinny to average' in build. They beat the previous record, set by 18 British women in 2000 and are now awaiting formal ratification of their result from the Guinness officials, having sent off video footage.
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The Chrsler Group has a new 4.0-liter V-6 that will be the most powerful naturally aspirated V-6 in their lineup. The 4.0-liter V-6 produces 255 hp @ 6,000 rpm and 265 lb-ft of torque @ 4,200 rpm. More than 10 engine characteristics were designed specifically for minimal engine noise, and to ensure that the sound would remain pleasing to the driver. The result is an engine with equal or better noise, vibration and harshness (NVH) qualities than competitive benchmark engines. The 4.0-liter will be available in the 2007 Chrysler Pacifica and Dodge Nitro.
Full Press Release and engine specs after the jump...
]]> Auburn Hills Mich, Jun 22, 2006 -The leading goals guiding the development of the new Chrysler Group 4.0-liter SOHC V-6 were impressive low-rpm torque and extremely smooth and quiet operation.
"When we decided to create a more powerful V-6 for Chrysler Group vehicles, we invested in building on the dependable 3.5-liter V-6," said Bob Lee, Vice President, Chrysler Group Powertrain. "The new 4.0-liter V-6 delivers more power than any naturally aspirated V-6 engine in our vehicles, and does so with world-class smoothness and refinement."
The new engine has impressive low-rpm torque that will give customers very good engine response around town and provide the power they expect from a world-class V-6. The 4.0-liter V-6 produces 255 hp @ 6,000 rpm and 265 lb-ft of torque @ 4,200 rpm. The engine produced 15 more lb-ft of torque at peak power rpm, and as much as 35 lb-ft more torque throughout the power curve.
Specific changes from the 3.5-liter engine for improved power include:
* Crankshaft stroke increased from 2.47 in. (81 mm) to 2.78 in. (91mm)
* Displacement changed from 214.7 cu. in. (3.518 liters) to 241.2 cu. in. (3.952 liters)
* New camshaft profile featuring higher lift and revised timing events
* New upper intake manifold with improved flow
* Compression ratio raised from 10.0:1 to 10.2:1
Equally important are the decreases in engine noise, vibration and harshness (NVH). More than 10 engine characteristics were designed specifically for minimal engine noise, and to ensure that the sound would remain pleasing to the driver. The result is an engine with equal or better NVH qualities than competitive benchmark engines.
Specific changes from the 3.5-liter engine for decreased NVH include:
* Increased main-bearing width and diameter
* Tighter crankshaft balance spec
* Select-fit rod bearings
* Reduced reciprocating mass piston assemblies
* Added ribbing to the sides of the engine block
* Increased pan-rail thickness on block
* Direct-mount oil pan to transmission bell housing
* Thermoplastic valve cover
* New "low rumble" intake manifold
* Intake lobes splayed
* Equal length exhaust
The 4.0-liter V-6 utilizes an semi-permanent mold cast aluminum block with iron liners and cast-aluminum cylinder heads. It is a single overhead camshaft (SOHC), 24-valve engine. The engine is produced at the Trenton Engine Plant in Trenton, Mich., and will debut first in the 2007 Chrysler Pacifica, followed later this year by the 2007 Dodge Nitro.
4.0-liter SOHC, 24-valve V-6
Description: The 4.0-liter is a new engine, based on our 3.5-liter V-6.
Type and Description____________________60-degree V-6
Displacement__________________________241 cu. in. (3952 cc)
Bore x Stroke__________________________2.78 x 3.58 in. (96x91 mm)
Valve System__________________________ 24-valve, single overhead camshaft
Fuel Injection__________________________Sequential, multi-port, electronic
Construction___________________________Semi-permanent-mold cast-aluminum block with iron liners
and cast-aluminum cylinder heads
Compression Ratio______________________10.2:1
Power (SAE net)________________________255 (190kw) @ 6,000 rpm
Torque (SAE net)_______________________ 265 (360 N•m) @ 4,200 rpm
Max. Engine Speed_____________________6,200 rpm
Fuel Requirement______________________Unleaded mid-grade, 89 octane (R+M)/2 preferred
Unleaded regular, 87 octane (R+M)/2 acceptable
Oil Capacity___________________________5.5 qt. (5.2L) with dry filter
Production Facility______________________Trenton Engine Plant, Trenton, Mich.
Customer benefits: Significant changes were made for improved power and reduced noise, vibration and harshness.
Availability: 2007 Chrysler Pacifica and Dodge Nitro
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