Google plugs in to hybrid car development with $10M

slashdot.org -> usatoday.com -> google.org -> youtube.com :

Internet search giant Google hopes to speed the development of plug-in hybrid cars by giving away millions of dollars to people and companies that have what appear to be practical ways to get plug-ins to market faster. But the money, announced Monday afternoon [18 Jun 2007] at Google headquarters in Mountain Valley, Calif., totals just $1 million so far with another $10 million pledged, which might not be enough to move the needle. Auto development is crushingly expensive, especially when it involves the kind of advanced battery and powertrain technology used in plug-in hybrids. Though automakers are tight-lipped about what they spend, bringing a plug-in hybrid to market could cost hundreds of millions of dollars.

"Google is not going to get into the business of building and selling hybrid electrics. Our focus is on accelerating their developing through research, testing and investment," says Google.org's Dan Reicher, who was assistant energy secretary under former President Bill Clinton. Google.org is the philanthropic arm of Google.com.

General Motors is the only major automaker that has announced specific plans to market plug-in vehicles, as soon as 2010. "We applaud them for the investment in plug-in hybrid vehicle technologies," says Brian Corbett, GM's hybrid powertrain spokesman. "Every little bit helps." The federal government plans to spend $28 million on plug-in component research in fiscal 2008, he notes.

Google says it has a small fleet of Toyota Prius and Ford Escape hybrids modified into plug-ins, and is recording 74 miles per gallon, vs. 41 mpg from its ordinary Prius hybrids. Even though other car companies haven't announced plug-in plans, "There is a lot going on behind the scenes," Reicher asserts. "I would wager that three or four years from now we'll be looking at commercialization of these vehicles."

- Now, what are the chances of Google becoming an energy company in addition to being a search company?

AMD considering getting out of fabrication business

hardware.slashdot.org -> arstechnica.com :

2007 has not been kind to AMD. The company saw its workstation market share slip, has taken on $2 billion of new debt, lost almost $1.2 billion over the past two quarters, has been unable to close the gap with Intel when it comes to CPU performance, and has been the subject of recent rumors that Barcelona will be delayed. AMD has been in cost-cutting mode for the past several months and, according to IDG News Service, is considering getting out of the fabrication business.

Speculation is building in the analyst community that AMD will attempt to further cut costs by outsourcing more - or all - of its chip making as early as 2008. One Citigroup analyst is predicting a "transformational move" that would result in AMD's lower-end CPUs being manufactured by a third party and possibly selling off part or all of its Dresden, Germany facility. Another report from Goldman Sachs outlines the investment firm's belief that the company will leave manufacturing completely in the hands of third parties.

Currently, Chartered Semiconductor handles some of AMD's manufacturing, and AMD told Ars Technica last fall that its plans called for Chartered to eventually manufacture CPUs on a 65nm process. AMD also has a long-standing partnership with IBM under which AMD gets to use Big Blue's East Fishkill, NY, plant for R&D and manufacturing.

(2007-06-29 12:33:44 SGT) [Biz] Permalink

China overtakes US as world's biggest CO2 emitter

energybulletin.net -> environment.guardian.co.uk :

China has overtaken the United States as the world's biggest producer of carbon dioxide, the chief greenhouse gas, figures released today [19 Jun 2007] show. The surprising announcement will increase anxiety about China's growing role in driving man-made global warming and will pile pressure onto world politicians to agree a new global agreement on climate change that includes the booming Chinese economy. China's emissions had not been expected to overtake those from the US, formerly the world's biggest polluter, for several years, although some reports predicted it could happen as early as next year.

But according to the Netherlands Environmental Assessment Agency, soaring demand for coal to generate electricity and a surge in cement production have helped to push China's recorded emissions for 2006 beyond those from the US already. It says China produced 6,200m tonnes of CO2 last year, compared with 5,800m tonnes from the US. Britain produced about 600m tonnes.

Jos Olivier, a senior scientist at the government agency who compiled the figures, said: "There will still be some uncertainty about the exact numbers, but this is the best and most up to date estimate available. China relies very heavily on coal and all of the recent trends show their emissions going up very quickly."

Cadbury to cut 7500 staff worldwide

channelnewsasia.com :

Britain's Cadbury Schweppes said on Tuesday [19 Jun 2007] it would slash 7,500 jobs, or 15% of workers at its confectionery division, in a major restructuring after the likely sale of its US soft drinks unit.

The group, which makes Dairy Milk chocolate, said in a statement that the process to sell Americas Beverages was "actively underway," while 7,500 jobs would go at its confectionery arm which employs some 50,000 staff worldwide. Trade union Unite, which has more than 2,000 members working for Cadbury in Britain, warned that the potential job cuts were a "grave concern."

(2007-06-29 12:20:49 SGT) [Biz] Permalink

Oil spikes above $70 a barrel

news.yahoo.com :

Oil futures spiked above $70 a barrel on Thursday [28 Jun 2007] for the first time since Sept. 1 [2006] on a government report that showed gasoline inventories dropped unexpectedly as the summer driving season neared its peak. After rising as high as $70.52 and trading above $70 for several hours, light, sweet crude for August delivery closed the day's trading up 60 cents at $69.57 a barrel on the New York Mercantile Exchange. The front month contract last settled above $70 on Aug. 31, 2006.

Analysts said oil prices pulled back late in the session as traders locked in profits after prices penetrated the psychologically important $70 level, considered by traders to be a technical barrier. "I think this might be just some selling off after breaking through this technical support," said Jason Schenker, an economist at Wachovia Corp.

- I was watching oil prices yesterday, bouncing around $69.30, $69.60 and so on. So it did hit $70, but not for long. And it happened overnight in New York action. It's been a while since oil reached $70, a psychological level. And as for myself, I walked off (drifted to sleep, rather) with a 35% profit in one of my oil-company stocks. Drop in the ocean.

A pullback is expected, and it did happen. Nymex crude is now bouncing around $69.60 again. I wonder if it will break last year's $78.40 record. It might take a hurricane. Or two.

(2007-06-29 09:50:14 SGT) [Energy] Permalink

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