Volkswagen’s stunning admission that it sold diesel-powered cars that intentionally faked emissions testing results has left many of their owners — who thought they were buying fuel-efficient and environmentally friendly vehicles — angry and feeling betrayed.
Volkswagen AG said Tuesday that 11 million diesel vehicles worldwide may have evaded emissions rules.
The federal government paid out as much as $51 million in green car subsidies for Volkswagen diesel vehicles based on falsified pollution test results, according to a Times analysis of the federal incentives.
U.S. ethanol producers are treading water right now with razor-thin margins brought on by low prices, but if historical trends hold up, things could get even uglier in September.
Volkswagen’s CEO said he is “deeply sorry” for violating U.S. emissions standards and ordered an external investigation Sunday, two days after the Environmental Protection Agency (EPA) accused the automaker of purposefully manipulating emissions tests for almost 500,000 vehicles.
After a credit-fueled energy boom and a punishing downturn, U.S. shale drillers now spend the vast majority of their operating cash flow paying off the debt they took out to expand their drilling.
The Obama administration on Friday directed Volkswagen to recall nearly a half million cars from the road, saying the German automaker used software intentionally designed to circumvent environmental standards for reducing smog.
Exxon says its study had nothing to do with CO2 emissions, but an Exxon researcher involved in the project remembered it differently.
Top executives were warned of possible catastrophe from greenhouse effect, then led efforts to block solutions.
Hybrids, plug-in hybrids, and full battery-electric cars—combined—represent only about three percent of the market. And that percentage hasn’t changed significantly since 2012.
