Ferox International Blog

The Truth About Off-Shore Drilling

December 19, 2008 – 4:30 pm
There has been much debate about off-shore drilling lately.  The 2008 Presidential race incorporated several heated debates about the subject.  Presidential hopeful John McCain based his campaign strategy on expanding offshore drilling.  President Bush also endorsed expansion plans.  But, will offshore drilling really help the U.S. fuel crisis? Guy Caruso, the government's "top energy forecaster" enlightens us about offshore drilling.  Caruso, of the Energy Information Administration, said that the expansion of offshore oil drilling wouldn't do very much to lower gas prices. Caruso recently held a briefing at the Center for Strategic and International Studies on the EIA's new long-term international energy forecast.  He said, "It would be a relatively small effect, because it would take such a long time to bring those supplies on.  It doesn't affect prices that much. The Energy Information Administration held the same view in 2007.  Back in ...

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Fewer Travelers This Holiday Season

December 18, 2008 – 4:29 pm
It looks like airports and gas stations can cut back on the amount of fuel additives they need this holiday season.  It looks like the roads and the skies will be less crowded during 2008's Thanksgiving rush. If you don't like to travel when it is crowded and packed with people, now is the perfect time.  The Wednesday before Thanksgiving gave a perfect insight into the holiday travel season.  Travelers strolled through open airport terminals.  Drivers cruised through open roads.  The economic crisis really is putting a damper on everyone's plans this holiday season. Gas prices have fallen in recent weeks.  But, the economy as a whole is still hurting.  Airlines who offered incredible holiday deals couldn't entice enough people to travel.  Americans look like they will be skipping trips altogether this year. Travelers are noticing the difference this year.  Some travelers say this ...

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GM…Going Down

December 17, 2008 – 4:29 pm
General Motors has been one of the most popular auto makers in the United States for years.  With the recent economic crisis, GM isn't looking so hot.  In fact, GM's shares to so risky right now that employees are discouraged from buying them. GM employees have been banned from buying GM shares through the company's 401(k) plans.  Why?  GM's financial difficulty. GM simply wants to register more shares of stock for its 401(k) participants to buy.  The financial institution that is in charge of the company's 401(k) plans refuse to approve this move.  The bank recently said that it must "focus exclusively on the best interests" of the 401(k) participants. CNBC analyst Paul Kedrosky said, "It is almost too surreal for words.  Next up, I'm guessing is that American Airlines employees won't be allowed to fly on AA planes."  It's just too dangerous.  Although ...

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Make Your Car Last

December 16, 2008 – 4:29 pm
Consumers aren't as interested in buying new cars, trucks and SUVs these days.  Instead of going through a new car every few years, drivers are looking to make their current cars last. Keeping your car a few years longer can really benefit you.  You will have fewer and cheaper car payments.  Insurance is also lower because the car isn't brand new.  As soon as you pay off your car, you can start saving for a new car.  You can buy your next car in cash and save a lot more money.  Here are a few ways to make your car last 250,000 miles or more. 1.  Maintenance.  You'd probably be surprised to find out that the majority of people don't maintain their cars or vehicles like they should.  It is so important to follow the maintenance schedule, especially if you want your car to ...

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What the Auto Body Shop Won’t Tell You

December 15, 2008 – 4:28 pm
Accidents happen everyday.  The biggest problem is that people don't know what to look for or ask when an accident does happen.  Here are seven things the auto body shop won't tell you. 1.  A fender-bender is a major expense.  Most people don't think that a fender-bender is a major expense.  The average cost of replacing a 1998 Buick LeSabre fender is $982.  Imagine what the cost would be on a newer or nicer vehicle.  Replacing the front bumper on a 2006 Mercedes-Benz E-Class can be up to $1,350.  Small accidents can end up costing you a lot of money. 2.  Tightfisted insurance companies have a list of approved auto shops.  Insurance companies aren't thrilled to pay for damages.  These stingy insurance companies use a list of approved auto body shops.  Shops on this list usually cut corners and don't do the job ...

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Crash and Burn

December 14, 2008 – 4:28 pm
The U.S. auto industry has been in serious trouble for many months now.  September's auto sales were record-setting...in a bad way.  There were 10.3 million domestically produced vehicles in August and only 9.4 million in September. What is causing the hit on the auto industry?  A carefully proportioned witch's brew.  Credit has been a lot harder to get in recent months because of the financial crisis.  There has also been a lack of lease financing.  These threats are in addition to all of the other threats that consumers already face: -Rising unemployment -The decreasing value of assets -Low consumer confidence -High gas prices -And on, and on, and on The auto industry just keeps spiraling downward.  Recently, all of the major auto manufacturers saw a major decline in monthly sales.  There were as follows: -Nissan was down 37 percent -Ford was down 35 percent -Chrysler was down 33 percent -Toyota was down 32 ...

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The Newest Endangered Species

December 13, 2008 – 4:28 pm
What is the world's newest endangered species?  The auto industry.  The auto industry isn't just hurting in the United States.  Auto manufacturers are hurting everywhere. It has been predicted that one in five U.S. car dealerships will go out of business by next year.  Think back to the last time you drove through your town.  Were all of the car dealerships doing well?  Chances are, they weren't.  If you were to take a trip through your town today, you might be surprised to see how many car dealerships have already gone under. Investors are staying away from the auto industry right now.  The housing market is viewed as a more profitable industry than the auto industry right now.  Can you believe that investors would rather invest in the housing market than they would in the auto industry?  Why is that?  Well, the housing ...

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Exposed: The Truth About Gas Mileage

December 12, 2008 – 2:08 pm
How many times have you bought a car and expected to get a certain gas mileage, but that number never really pans out?  Here's a little secret that the auto industry has kept from you for quite some time now...The Environmental Protection Agency fuel-economy ratings overstate actual gas mileage. That's correct.  You heard that right.  Drivers who calculate their gas mileage every time they fill up already know the truth.  But, the general public began catching on to the dirty little secret several years ago when the Toyota Prius hit the showrooms.  The EPA said that the Prius could get 60 mpg in the city and about 51 on the Interstate.  However, it didn't take long to figure out that those numbers were overstated, way overstated.  Drivers soon calculated Pruis gas mileage.  The Prius' registered gas mileage was only in the 40s. Auto ...

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Why is the U.S. Running Out of Gas?

December 11, 2008 – 4:27 pm
It has been several years since Congress approved a long line of national energy policies.  A few years ago, President Bush proposed a project that would involve $1.2 billion in research funding.  The funding would hopefully propel America to be a world leader in developing a clean, hydrogen powered vehicle.  President Bush hoped that this research project would promote energy independent "in ways that generations before us could not have imagined." There has been much debate as to whether or not the U.S. is running out of gas.  People have been saying that the world has a short oil supply for decades now.  Experts predicted that there wouldn't be enough oil left to teach the coming generations how to drive.  Obviously, these predictions never came true. People seem to use the same method for calculating how much oil is left on the earth.  ...

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$2.00 Gas: What It Means To You

December 11, 2008 – 2:07 pm
Remember when gas was well over $4 per gallon?  You should.  It wasn't that long ago.  The cost of driving has significantly decreased since July.  So, what does that mean for you? The average price for a gallon of gas these days, nationwide, is about $1.90.  The nation's cheapest gas is in Kansas City, MO.  Drivers there are enjoying $1.40 per gallon. Since the drop in gas, the average family now has about $1,250 a year back into their wallet.  Well, the average family has about double that amount now.  A family would save about $1,250 a year if gas dropped $1 per gallon.  Since July, it has dropped more than $2 per gallon. So, who has benefited the most from the dramatic drop in gas prices?  The biggest winners are the poor and middle-class households.  These people end up being forced to spend ...

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