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BP Pipeline Shutdown Highlights US Oil Dependence

As BP shuts down eight percent of U.S. domestic oil supply and world oil futures shoot up by about $2 a barrel, our country is again reminded of the vulnerability caused by our oil addiction. According to a Union of Concerned Scientists analysis, the U.S. will spend at least an additional $24 million on oil imports today as a result of the price spike, sending a total of $10 million to OPEC alone. “The pipeline shutdown reminds us that we need to start kicking our oil habit,” said David Friedman, Research Director of UCS’s Clean Vehicles Program. “If all our cars and trucks on the road today got just one extra mile per gallon, we would not even need the 400,000 barrels per day BP has shut down. The U.S. would spend $50 million dollars a day less on gasoline priced at $3 a gallon. Over the course of a year, that would be $18 billion that could be spent strengthening our economy and creating jobs across the country.” While the U.S. Energy Department is preparing to tap into our strategic petroleum reserves to deal with the shutdown, the president and Congress still refuse to tap into available technology and […]

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MTI Reports Second Quarter 2006 Results

Mechanical Technology Incorporated (Nasdaq: MKTY) has reported financial results for its second quarter ended June 30, 2006. For the three months ended June 30, 2006, the Company reported net loss of $3.222 million, or $(0.10) per diluted share, on revenues of $1.793 million while total cash used during the quarter totaled $0.266 million. Revenues included $1.700 million in product revenue generated by the Company’s subsidiary, MTI Instruments, Inc. (MTI Instruments) and $0.093 million in funded research and development revenues generated by the Company’s subsidiary, MTI MicroFuel Cells Inc. (MTI Micro). This compares with net loss of $2.793 million, or $(0.09) per diluted share, on revenues of $1.665 million — $1.285 million generated by MTI Instruments and $0.380 million generated by MTI Micro — for the same period of 2005. The $0.415 million increase in MTI Instruments product revenue is the result of capacitance product sales, which have increased 18% since last year ($0.377 million in 2006 versus $0.319 million in 2005). Increases were also recorded totaling $0.249 million in aviation revenue and $0.087 million in semiconductor sales. There was also a $0.287 million decrease in funded research and development revenue at MTI Micro primarily due to the suspension of existing […]

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US Democratic Clean-Energy Strategy Emerges

URL: http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=1925&topicId=100002042&docId=l:415776887&start=2 Website: http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=1925&topicId=100002042&docId=l:415776887&start=2     

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