American Airlines plans to park about 10 percent of its MD-80 fleet this year and trim domestic capacity to stem losses from sky-high fuel prices. Get the full story »
Filed under: Energy
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$3.5B deal signals consolidating power sector
AES Corp. will buy the regional power company DPL Inc. for about $3.5 billion in cash, the companies said Wednesday, accelerating a consolidation in the industry that is already well under way.
With costs rising and environmental regulations on the horizon, utilities are bulking up so that they can better shoulder the load. The recession also hit the sector hard because major customers like industrial plants and factories have shut down. Get the full story »
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Filed under: Autos, Energy, Environment, Green, Internet, Technology, Transportation Google to provide map to EV charging stations
A Chevy Volt being charged at a public electric vehicle charging station in Detroit, Oct. 12, 2010. Google will help electric vehicle owners find charging stations. (Jeff Kowalsky/Bloomberg)
Soon electric vehicle owners looking for somewhere to charge up will need little more than Google.
The U.S. Department of Energy said Tuesday that a new partnership will draw on Google Maps to create an online network of all the charging stations in the country and will serve as a primary data source for GPS and mapping services to track electric vehicle charging locations. Get the full story »
Only $3.8B paid from BP’s $20B Gulf cleanup fund
The fund established to compensate Gulf Coast residents in the aftermath of last year’s massive BP oil spill said Monday it has paid out $3.8 billion so far. Get the full story »
Obama says little he can do about high oil prices
President Barack Obama wears a Chicago Bulls cap at last night's Navy Pier fundraiser. Obama said Friday that there is little he can do about high oil prices. (Mandel Ngan/AFP/Getty Images)
President Barack Obama said there are no quick fixes to bring down rising gasoline prices and urged caution about being too quick to tap U.S. emergency oil reserves amid uncertainty in the Middle East.
“There aren’t going to be a lot of great short-term solutions to this problem,” Obama said in an ABC interview aired Friday. Get the full story »
Gas averaging $4 a gallon in Illinois, 4 other states
The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.
The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. It’s above $4 in Illinois, Connecticut, California, Hawaii and Alaska. Get the full story »
U.S. nuclear output slips as Exelon slows reactor
From Bloomberg News | U.S. nuclear-power output slipped for a second day as Scana Corp. slowed its Summer reactor in South Carolina and Exelon Corp. slowed the 1,152-megawatt Braidwood 2 reactor in Illinois to 91 percent of capacity from 97 percent yesterday.
Speedway to buy most Gas City properties
The U.S. Bankruptcy Court has approved the sell of 60 properties by Frankfort-based Gas City Ltd. to various buyers for more than $135 million.
Ill. average gas price above $4, last seen in July ‘08
Steve Bruski, 22, of Albany Park fills up his car at a Mobil Station at the corner of Fullerton Ave. and Seminary Ave. in Chicago, March 7, 2011. (Heather Charles/Chicago Tribune)
Gas prices across Illinois and Indiana continued to climb in April from continuing unrest in the Middle East and the annual switchover to a more expensive summer blend of gasoline, according to AAA Chicago. It marked the first time the monthly average has been above $4 a gallon since July 2008.
Monthly average prices in Illinois and northern Indiana reached $4.02 and $3.90 respectively, AAA said this morning in its Fuel Gauge Report. In Illinois, regular unleaded gasoline has increased 39 cents during the past month and per-gallon prices are $1.02 higher than last year. Get the full story »
Speedway, Circle K could take over Gas City stores
TribLocal | It appears the Gas City stations in the area could become Speedway or Circle K stations.
According to multiple reports citing bankruptcy court records, Speedway LLC and Canada’s Alimentation Couche-Tard Inc., the owner of Circle K, will purchase 32 of the 50 stations owned by Frankfort-based Gas City Ltd.
ICC judges recommend 3% rate hike for ComEd
Even as Commonwealth Edison fights in Springfield for legislation that would set utility rates by formula and sharply undercut the authority of the Illinois Commerce Commission, at home, that same regulatory body is undercutting ComEd in its battles for rate increases.
Administrative law judges recommended that Commonwealth Edison Co. be allowed a rate increase of about 3 percent, or $166 million, less than half what the Chicago-based utility requested last June. Get the full story »
Cargill earnings up 30% in 3rd quarter
U.S. agribusiness and trading giant Cargill said on Wednesday its quarterly earnings rose 30 percent, lifted by its grain processing business. Get the full story »
Oil slumps on Goldman warning, demand fears
Crude fell more than $3 on Tuesday as Goldman Sachs warned again of a price reversal and key forecasters said expensive oil could erode demand. Get the full story »
Bank regulators propose swap rules
Energy companies, airlines and other end-users would be mostly exempt from having to put up costly collateral when using uncleared swaps to hedge their business risks, under a proposal issued by U.S. bank regulators on Tuesday. Get the full story »
Higher oil shouldn’t trigger Fed rate hike: Evans
Rising oil prices are unlikely to push up core inflation and thus should not trigger any interest-rate hikes from the U.S. Federal Reserve, according to research from a top Fed official on Monday. Get the full story »
