The price of a barrel of oil would be closer to $10 if the commodity wasn't traded as an investment instrument, given the record-high levels of U.S. oil inventories, Peter Beutel, president of Cameron Hanover, told CNBC Monday.
Peter Beutel: "I honestly think that if there were no investors using oil as an asset that the price of oil right now would be $10 or $15 or $18, but it wouldn't be anywhere near where it is”
"We have so much oil right now, more than we've had in 27 years. Why ...
When Americans hit the roads this weekend for their Labor Day travels and turn on their car radios, they may not realize just how significantly the car radio has evolved from its origins during the Great Depression.
From the first commercially available model appearing in 1930, through the addition of 8track, cassette tape and CD players, to today's systems that offer HD Radio, satellite radio and Internet radio, the ubiquitous car radio has undergone a series of significant changes.
Check out this image
There were 354,400 used commercial vehicles, registered in the U.S. during the first two quarters of 2010, according to Polk.
This historic number sets a new record for used commercial vehicle registrations in a six-month timeframe and represents nearly 68 percent of the commercial vehicle market. Additionally, this figure represents an increase of 28.8 percent over the same timeframe in 2009.
The combined registrations of new and used commercial vehicles in the first half of 2010 were 524,700, representing an 18.9 percent increase over the same period last year. New commercial ...
The Mercedes GP Petronas Formula One Team amazes sophisticated audience with its incredible line-up.
Inspired by the emblematic design of the Silver Arrows watch, the new Graham watch features an appealing 47 mm case. The timepiece is offset by a steel bezel, embellished with Clous de Paris motif.
It’s equipped with a steel lever plus a reset button and is shielded by a domed sapphire crystal with double-sided anti-glare treatment, for that water resistance by tp to 100 meters.
The Graham Mercedes GP Trackmaster watch is powered by an automatic bi-compax chronograph movement ...
An electric powered racer made by students at Ohio State University, set a new record of 320 MPH today at the Bonneville Salt Flats.
The fuel cells have now been replaced by lithium-ion batteries from A123 Systems and, after several days of aborted runs and wind-storms, the team finally got in two clean passes Monday afternoon. On the first run, the Bullet traversed the flying mile at 286 miles per hour.
However, today, the Bullet succeeded to 320 MPH !!!
![Wiki: World largest engine! Wartsila-Sulzer RTA96-C [w/video]](http://www.inautonews.com/wp-content/plugins/yet-another-photoblog/cache/engine_flatbed.1cqyccbyhukkkg40w4ck08gc8.a68hre3vj8084so4wcs0wkwgc.th.jpeg)
You own a car with a 5.0-LITER engine? And you think is large? Well … it is in some way… But take a look at this little boy ☺ The Wartsila NSD (Sulzer) RTA96-C two-stroke diesel engine.
This is the most powerful and most efficient piston prime-mover in the world today.
Hmmm .. yes your right- it’s not used for cars ☺ is designed for large container ships, running on heavy fuel oil.
It stands at (13.5 metres (44 ft)) high, is 27.3 m (90 ft) long, and weighs over 2300 tonnes in ...
UBS AG (UBS) said Monday it will sponsor Formula 1 racing from the Singapore Grand Prix later this month, part of its new branding push.
Zurich-based UBS, Switzerland’s biggest bank, said it will become a so-called global partner. Terms of the deal were not disclosed.
The cost of sponsoring the sport is likely to have fallen in recent years as financial crisis and recession have hit corporate marketing budgets.
"UBS has been searching for a global sponsorship platform that has appeal to our clients, promotes our brand globally and makes good commercial ...
One of the best-kept secrets of the automotive world was uncovered over the weekend. Top Gear’s famously unidentified ‘Stig’ driving specialist is, according to reports, Ben Collins.
SOME say... that he sucks the moisture from ducks, and that his crash helmet is modelled on Britney Spears's head. :)
But others are saying that The Stig, the most famous tame racing driver in the world, is a 35-year-old stuntman called Ben Collins.
Ben Collins is one of several drivers whose names have been put forward as being the man who regularly takes to the ...
The L3 1.8L CVT made its debut at the Beijing Auto Show, and the MT models and 1.5L models are expected to be in the market soon. The L3 adopts a brand new exterior.
Its size reaches 4,568*1,716*1,480mm, with wheelbase of 2,615mm. The interior of the L3 looks similar to the G3, but some details on the steering wheel, central panel and air outlets have slightly changed.
The L3 1.8L CVT made its debut at the Beijing Auto Show, and the MT models and 1.5L models are expected to be in the ...
The Spanish company Izaro Motors is a new name in the world of sports cars. Their GT-E is an electric sports car in the same league as the Tesla Roadster.
The car will go on sale at a price of approx. 55,000 euro.
Izaro Motors GT-E will be offered with two types of propulsion: a hybrid version, which will provide a total power of 416 HP and a range of up to 429 miles, and one full hybrid, it will display no more than 495 HP, but a range much lower, only ...
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