Cheap gasoline prices are causing more drivers to take to the highways, with an estimated 41.9 million people expected to travel more than 50 miles this Independence Day, the highest total since 2007, according to AAA.
While the sponsorship has raised the profile of ethanol among race fans, it’s done little to quiet a decade-old debate about whether ethanol is a renewable-fuels godsend or a government-subsidized mistake.
The Conroe-based petroleum and fuel storage tank manufacturer said it will permanently shut the Conroe plant down close to Sept. 1, according to a WARN Act letter filed with the Texas Workforce Commission.
Pump prices have reached their highest point and should continue to fall for the rest of the summer as refineries run hard to process a glut of cheap oil, providing U.S. drivers the cheapest gasoline in six years.
The Independent Petroleum Marketers Association of Nigeria said the finance minister agreed Monday to pay a debt of $800 million to oil suppliers. It said companies started pumping oil again Tuesday and unpaid tanker drivers stopped striking.
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