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Baltimore authorities probe rash of firebombings
Baltimore police and fire officials are urging people to be on the lookout for suspicious activity after a string of firebombings across the city in recent weeks. Officials announced Thursday that there have been nine arson incidents involving Molotov cocktails in the city since Sept. 13, but there have been no serious injuries or property […]
Sunoco to sell refineries
NEW YORK — Sunoco Inc. says it’s getting out of the refining business. The Philadelphia company, which owns two refineries in Pennsylvania, says refining oil into gasoline and other fuels has yielded disappointing returns. It plans to sell those refineries and focus on its retail and logistics business. Oil refining is only profitable when a […]
Gasoline close to record high before Labor Day
NEW YORK — Gasoline is near the highest it’s ever been for this time of year, just ahead of the Labor Day weekend. The run-up in oil prices this year, combined with a rash of refining problems throughout the U.S., has boosted pump prices. The national average on Thursday is $3.629 per gallon. Drivers will […]
New mileage standards aim for less fuel, pollution
WASHINGTON — President Barack Obama and automakers ushered in the largest cut in fuel consumption since the 1970s on Friday with a deal that will save drivers money at the pump and dramatically cut heat-trapping gases coming from tailpipes. The agreement pledges to double overall fuel economy to 54.5 mpg by 2025, bringing even greater […]
Exxon Mobil 2Q earnings rise 41 percent
NEW YORK — Exxon Mobil Corp. said Thursday that profit rose 41 percent in the second quarter, when the price of gasoline and other fuels jumped to three-year highs. Exxon’s second-quarter income of $10.68 billion is the largest since it set a corporate net income record of $14.8 billion in the third quarter of 2008. […]
Oil giant ConocoPhillips to split into 2 companies
NEW YORK — ConocoPhillips, the third-largest U.S. oil company, said Thursday that it will split itself into two separate publicly traded companies and its CEO and Chairman Jim Mulva plans to retire once the transaction is complete. The breakup would create the largest independent refiner in the world, a prominent analyst said. Its shares jumped […]
Oil falls over 2 percent on weak U.S. jobs report
NEW YORK — Oil tumbled more than 2 percent Friday, giving up most of its gains for the week after the latest government data showed hiring in the U.S. is at a virtual standstill. The Labor Department said that employers added the fewest jobs in nine months and the unemployment rate rose to 9.2 percent […]
Allison plaintiffs awarded $495M in Exxon leak case
A Baltimore County jury has awarded more than $495 million in compensatory damages to Jacksonville residents who sued Exxon Mobil Corp. over a 2006 gasoline leak. The six female jurors deliberated on punitive damages for six hours Wednesday afternoon until they were dismissed at 7:30 p.m. by Judge Robert N. Dugan. They will continue deliberations […]
Obama releasing 30M barrels from U.S. oil reserves
WASHINGTON — Wary of a new surge in gas prices, the Obama administration has decided to release 30 million barrels of oil from the country’s emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya. The release from the U.S. […]
Deliberations underway in Exxon case
Jurors began deliberations Monday morning in the second mass-action lawsuit filed by Jacksonville residents against Exxon Mobil Corp. stemming from a massive 2006 gasoline leak. The six female jurors heard closing arguments last week in Baltimore County Circuit Court in a case that began the first week of January before Judge Robert N. Dugan. Lawyers […]
Relief from high gas, food prices is in sight
WASHINGTON — Americans are finally getting some relief from high gas and food prices. Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this […]
Airlines collected $3.4 bln in bag fees in 2010
NEW YORK — The government says that airlines collected $3.4 billion in baggage fees last year, up 24 percent from 2009. The fees are typically $50 roundtrip for a first checked bag. Reservation and change fees accounted for an additional $2.3 billion, down 3 percent from 2009. The add-ons are one of the few bright […]
