Personal Loan Experts News

Wed, 2 May 2007
Interest rates on hold: reprieve for homeowners
In a boon for the nation's mortgage belt, the Reserve Bank decided at its quarterly meeting on May 1 to leave the official cash rate unchanged at 6.25 per cent. The Reserve Bank's decision followed the publication of a much lower than expected March-quarter consumer price index, which showed inflation rose just 0.1 per cent for the quarter and 2.4 per cent for the year. This was well within the Reserve Bank’s target of 2-3 per cent. In a rare show of consensus, many economic forecasters are now predicting a further easing in inflation and most believe interest rates will stay on hold for the rest of 2007, particularly given the impending federal elections.

Thu, 01 November 2007
Why Get a Personal Loan ?
Personal loans for big ticket items are making a comeback after being overtaken by credit cards, which are more flexible-but best suited to short term borrowing for small purchases.

Repaying a personal loan by fixed instalments over a medium to long period has always been a niche market.

Personal loan interest rates are traditionaly lower than credit cards, at about 12 per cent verses 18 per cent-but new budget cards are out with honeymoon rates down to 6.99 per cent and are really heating up the competition.

Personal loans can be taken out for any number of reasons-paying for an upcoming holiday, buying a new car or furniture, or even to cover education fees.

The loan has to be set for a specific purpose that costs between $5,000 and $50,000

SOURCE: news.com.au

Thu, 01 November 2007
ANZ to lift interest rates
The new chief executive of the ANZ Bank has warned that the global credit turmoil could last for years and that Australian consumers will bare the brunt of higher rates. The bank will lift credit card and personal loan rates by between 10 and 25 basis points this week. "We have held off as long as possible, but sustained high funding costs associated with the global liquidity squeeze mean we have no choice but to move," said an ANZ spokesman. Funding from the wholesale market and 30-day bill rate has risen 20 to 30 basis points above normal which is costing the bank $15 to $20 million each month.

By The Financial Review

2 October 2007

Tue, 06 November 2007
$330,000 car audio export boom
Its the ultimate in car audio- a boom box that costs 10 times the price of an average new car.

But neighbours be warned, it pumps out nightclub-quality sound that is so ear splitting that it can be heard clearly 2 km away.

The $330,000 state-of-the-art car audio system, designed and made in South Australia, has been picked up by the American makers of customised car TV show PIMP MY RIDE.

SOURCE:Adelaide Now:NOV 4 2007

Sun, 18 November 2007
Northern Rock CEO Resigns
London: Adam Applegarth, the chief executive of ailing British Bank, NORTHERN ROCK has quit and the bank has streamlined its board as two suitors confirm they've made proposals to buy or revive the bank and repay its loans.

Mr Applegarth will stay to oversee the new phase of a strateic review that is due to end by February, the bank said.

Acceptance of Mr Applegarth's resignation and the removal of seven other board members came as at least four bidders were expected to submit plans to take over or revive Northern Rock by a friday deadline.

SOURCE: REUTERS NOV 18 2007

Sat, 24 November 2007
Australians are the most entrepreneurial people
Australians are the most entrepreneurial people in the developed world with more than 20% of adults running their own business, or planning to start one, according to a joint study produced by Swinburne University of Technology and the University of Adelaide.

The study also shows that Australians value independence above income when it comes to their working life. These findings are part of the world’s largest study of entrepreneurship and business ownership, coordinated by the Global Entrepreneurship Monitor (GEM).

Professor Noel Lindsay and Mr Gary Hancock from the University of Adelaide and Professor Kevin Hindle from the Swinburne University of Technology collaborated on the study, based on 2006 data. The authors found that most Australians strongly believe that working for oneself provides much greater satisfaction and opportunities than being an employee.

“Business owners in the 22 to 44-year-age bracket are particularly optimistic about the growth of their business in coming years and are focused on the export market, which is very encouraging for the future of small business in Australia,” the report’s authors say. The downside is that a large percentage of Australian business owners lack confidence in their own skills and are less innovative than their competitors in other developed nations.

SOURCE:Swinburne University of Technology 16-11-2007

Mon, 03 December 2007
Rental company plans to offer personal loans
Radio Rentals is best known as a place to hire whitegoods such as fridges, televisions and washing machines.But now Australia's biggest household appliance rental company plans to offer financial loans to its customers.

Managing director John Hughes says the company is entering a new market - the personal loan industry.

SOURCE: ABC NEWS NOV 20 2007

John Hughes says Radio Rentals will be able to provide the loans under the top interest rate it can charge, which is around 48 per cent.

Sun, 09 December 2007
Bank of Queensland still on the hunt
BANK OF QUEENSLAND has signalled it is still on the hunt for acquisitions even though it has just spent $600 million to expand into Western Australia and has "moved on" after its failure to pull off a $4 billion merger with Bendigo Bank in Victoria.

Having succeeded in just one of three publicly disclosed deals this year to expand its operations, the Brisbane-based regional bank suggested further tie-ups were likely as the pace of consolidation in the industry speeds up.

SOURCE:BRISBANE TIMES 7 December 2007

Mon, 17 December 2007
Please help us to restore our fragile environment.
Ten more years at the current growth rate of green house pollution will kill us all. It must be dealt with now. That is right now!! Even if we stopped polluting today it would take thirty years for the earth to recover. That’s Thirty years. But it won’t happen that way will it? There is no way it will stop tomorrow, but it must be stopped or we humans as a species, and nearly every other species on earth are doomed.

It is therefore vitally important that you/we make people who count aware of the LEA technology.

Now that we are ready to showcase our technology it is time to act. Others, who support the coal, oil, and uranium industries are lobbying government’s world wide to push their own agendas. They have years of experience, and the know how, financial backing and networks to help them to “play the game” Remember Big Business does not take kindly to what they see as competition. In reality what we propose for our technology actually helps them to extend their resource life and by so doing make them more money. Take oil for example, what if the diminishing supply could last for an extra ten years, what would it be worth a gallon or litre then? We are not in opposition to these people, we want to fit in alongside them and help them as well.

Source: extract from open letter www.lutec.com.au LU Brits & John Chritie

Thu, 27 December 2007
Home Loans News
24 Dec 2007

RESEARCH shows that many Australian borrowers wrongly believe that retail banks can’t raise home loan interest rates if the Reserve Bank doesn't move the official cash rate.

Although movements in home loan rates generally follow the Reserve Bank, the banks can move independently – and lately they’ve been hinting they’re planning to do just that.

Research by online home loan lender myrate.com.au showed that 60 per cent of Australians would be caught off guard if home loan rates rose outside of an official movement by the RBA.

SOURCE: news.com.au

Sat, 05 January 2008
Rates threaten housing recovery
FURTHER interest rate rises could stop the housing market recovery in its tracks, housing experts have warned.

The warning comes at a time when the Australian housing market has so far shown it is immune to the US sub-prime mortgage crisis.

But the managing director of business forecaster BIS Shrapnel, Robert Mellor, said the recovery could be stalled if there was more than one interest rate rise in 2008.

Mr Mellor suggested that the strength of economic growth and wage pressures could lead to two or possibly more rate rises next year.

He pointed out that the recovery in NSW was tentative and would react to higher mortgage rates.

Other markets, such as Melbourne, Brisbane and Adelaide, which had been doing well this year, would also slow down.

National president of the Real Estate Institute of Australia, Noel Dyett, said the residential market had been travelling "reasonably steadily" this year.

But he added it was still "unknown" as to how much the US sub-prime situation would affect Australia.

SOURCE news.com Dec 28 07

Mon, 14 January 2008
Insurers hit by storm season
21 December 2007

Insurers are facing claims of almost $300 million from hail storms this month. Suncorp, which owns the AAMI and GIO brands, has said that it could be hit with a bill of up to $180 million while Insurance Australia Group has issued a profit downgrade equivalent to $150 million. While Suncorp is not yet sure how much of an effect the claims will have on its bottom line, it had budgeted for claims worth $100 million for the first half of the current financial year but storms since July have generated total claims between $230 million and $260 million.

By Sydney Morning Herald

Mon, 21 January 2008
Emerald evacuates as Nogoa rises
Emergency Services have begun evacuating residents at Emerald in central Queensland, where floodwaters are continuing to rise.

The SES has asked 50 residents living along the Nagoa River to leave their homes tonight.

Acting Emerald Mayor Kerry Hayes says hundreds of other residents have also been advised to prepare for the possibility of major flooding tomorrow morning.

"An area that we believe is likely to have some issues tonight with flooding - and we have requested that those people be relocated tonight - would cover about 50 of our residents in Riverview," he said.

"We are also sending out a second letter to up to 200 to 300 households just advising that perhaps with some change there may be a need to move those people in the morning."

Jenny Belbin from the nearby town of Sapphire says she has been left with nothing after floodwaters inundated her house.

"Our house was gone. Everything is gone," she said.

"It's just devastating. Everything just totally gone, just all full of mud and water."

Emergency Mangement's regional director Shane Wood says he has been in close contact with the weather bureau and the hydrologists who work at the Fairbairn Dam, which flows into the Nogoa.

He says the dam is overflowing for the first time in 17 years, and the water coming over the spillway is more than 2.5 metres high. It is also expected to rise to a new record.

"We're expecting the river to peak at 14 metres at the causeway going into town and that relates to the three metres over the Fairbairn Dam spillway," Mr Wood said.

He says unlike in Charleville, levees have not been built, because the Nogoa's banks already have a long steep incline.

SOURCE:ABC NEWS 20 Jan 2008

Sun, 03 February 2008
Commonwealth Bank lifts home loan rates
The Commonwealth Bank has become the third bank to announce it is lifting its home loan rates as a result of the global credit crisis.

The bank has announced it is lifting its variable home loan interest rate by 0.1 per cent to 8.67 per cent per annum this Friday.

The increase is the lowest of the rate increases announced so far.

On Monday, the ANZ announced a rate rise of 0.2 per cent, a move that was attacked by Treasurer Wayne Swan as "excessive".

Last week the National Australia Bank announced an increase of 0.12 per cent.

The banks say they have been forced to make the move because the global scarcity of credit has made the cost of borrowing money more expensive.

Wed Jan 9, 2008 SOURCE: ABC

Sun, 10 February 2008
Passengers to pay for carbon cuts
THE tourism and aviation industries risk being hit hard by both climate change and moves to solve the problem, a leading tourism economics expert has warned.

Monash University Tourism Research Unit deputy director Peter Forsyth told an aviation environment conference in Sydney yesterday that climate change could be damaging for tourism generally and for Australia's nature-based industry in particular.

But he also outlined a scenario where fares could rise sharply under an emissions trading scheme introduced to limit the nation's carbon footprint.

The Government has yet to reveal its plans for an emissions trading scheme, which would see carbon permits either issued free or sold to emitters.

But Professor Forsyth believes it is likely to introduce a scheme similar to the one being introduced in Europe.

"Aviation and tourism will be caught up in the ETS net, exactly how is going to be an issue," Professor Forsyth said.

February 08, 2008

SOURCE: THE AUSTRALIAN

Wed, 20 February 2008
Ford FG Falcon: The safety story
Ford is keeping tight-lipped about the FG Falcon safety package but there is growing speculation the car may become the first locally-built vehicle to earn a five-star rating in independent crash tests.

Ford claims its new FG Falcon will be the safest locally-built car on the road.

But the company refuses to be drawn on whether it expects the car to get a five-star rating when it is independently crash tested.

Both the Toyota Aurion and Holden Commodore have four-star ratings and industry sources suggest the new Falcon may become the first locally-built car to score a five-star rating from the Australian New Car Assessment Program (ANCAP).

Ford has confirmed that four airbags, anti-lock brakes and an electronic stability control system will be standard on all FG Falcon sedans. However, only the luxury G6E and G6E Turbo will get potentially life saving side curtain airbags as part of their standard safety artillery.

Curtain airbags will be a relatively affordable option across the rest of the FG Falcon range; XT, G6, XR6, XR6 Turbo and XR8.

A reversing camera will also be fitted to the G6E and G6E Turbo and available across the Falcon sedan range.

The FG Falcon's main rival, Holden's VE Commodore, has only two airbags as standard equipment as well as a stability control system.

Ford's move to omit the curtain airbags from most FG Falcons will no doubt be a point of contention with some drivers and buyers.

Toyota's relative newcomer, the Aurion, has six airbags on all models.

A press released by Ford on the FG Falcon says it will have “the safest body structure of any Australian-built vehicle and a world-class package of safety features”.

But spokeswoman Sinead McAlary declines to elaborate futher.

She says further details of the car’s body structure and crash protection will be revealed at a later date.

It is believed Ford may delay the NCAP crash test until after the FG Falcon launch to get another bite at the publicity cherry for its make or break new Falcon.

One vehicle in the Falcon line-up that won’t be getting a five-star rating is the Falcon wagon.

In a cost cutting move, Ford decided against making major revisions to the wagon and will continue to sell the vehicle in its current BF form.

Ford has kept the Falcon wagon’s dated rear suspension set-up, which it claims is better for load carrying. The new wagon will be positioned as a “tool of trade” fleet car and won’t benefit from the safety upgrades, although it will get stability control as standard fitment across the range.

The Falcon ute has also been shortchanged when it comes to safety. While the Commodore ute comes standard with stability control, its FG Falcon equivalent will not have the potentially lifesaving technology available on any model, including its sporty and more powerful XR variants.

The XR ute range will instead get traction control as standard.

Traction control is a more rudimentary driver aid than stability control. It limits wheelspin at take off but won’t correct the car’s trajectory if it begins to skid during cornering.

Traction control will be available as an option on the rest of the Falcon ute petrol range, but won’t be offered on LPG variants, which account for more than 20 per cent of Falcon ute sales.

On the sedan, Ford’s stability control system has been retuned to suit the new suspension and wheel sizes.

For the first time, Ford will offer two stability control tunings – a standard setting for the base model car that will intervene early and a sportier setting that will allow more initial wheel slip on its performance-oriented sedans.

Ford says driver visibility has been improved on the Falcon, with a redesigned windscreen and roofline that gives the driver a better view of the road ahead.

Ford claims the new Falcon has better front visibility than the Commodore, which has been criticised for its thick windscreen pillar.

Holden apparently had to make the pillar thick to meet crash requirements, but Ford claims to have achieved the better vision without compromising structural integrity and crash protection.

SOURCE: DRIVE.COM 17/02/08

Wed, 27 February 2008
NAB chief suggests merging big banks
The head of Australia's largest bank says the Federal Government should allow mergers amongst Australia's four big banks to prevent them being taken over by foreign companies.

Chief executive of the National Australia Bank (NAB), John Stewart, has told a business luncheon in Sydney the four pillars policy, which prevents Australia's major banks from merging, needs to be relaxed.

He says at the moment none of the four would be strong enough to stave off a takeover bid from a much larger foreign bank.

"The question is what's going to happen in the next five to 10 years, and I think we have to find a political solution," he said.

"That is a politically acceptable way to probably have a very strong or perhaps two or three very strong banks that can operate internationally."

SOURCE: ABC NEWS 27 FEB 08

Sun, 09 March 2008
Better mileage than a Prius? Not so fast
VW's new diesel-powered hybrid gets great mileage - better than Toyota's top-selling hybrid. Its price-tag is another story.

It was bound to happen - the Toyota Prius could soon lose its crown as the most fuel-efficient car on the market. But you might want to hold off before you cancel your order.

The VW Golf TDI Hybrid gets 69 miles per gallon in the European fuel economy test cycle, according to Volkswagen. Toyota claims 54 mpg for the Prius in the same test.

Volkswagen unveiled a Golf hatchback in Europe this week that gets even better mileage than the Prius. It's a concept vehicle for now, but the diesel-powered hybrid indicates something that's in the "near term future" for European customers, a VW spokesman said.

Customers in the U.S. would have to wait a little longer, but a car like this could eventually be sold here, said Keith Price, a spokesman for Volkswagen of America.

Check under the hood

It's easy to understand why the Golf gets 26% better mileage than a Prius, which burns gasoline. The Golf TDI hybrid has a diesel engine, which is more efficient.

A non-hybrid 2006 Volkswagen Jetta diesel sedan gets 33 mpg in combined city and highway driving, according to current EPA estimates. A 2007 Toyota Camry Hybrid, a similarly-sized car, gets just one mile per gallon more. And the Jetta diesel gets much better highway fuel economy - 38 mpg - than the Camry Hybrid's 34 mpg.

You may wonder why no one thought of the diesel/hybrid combination before.

"From a consumer standpoint, it comes down to 'What kind of compromise do I need to live with to enjoy all this wonderfulness?'" said VW's Price. And the biggest challenge, he conceded, is cost.

And then check your wallet

Diesel engines burn fuel using high pressure and heat instead of a spark. The engines have to be more rugged to withstand the strain, so they're more expensive to build.

Chrysler has a small test-fleet of plug-in diesel hybrid Dodge Sprinter vans in commercial use today, but the technology is too pricey to put into passenger vehicles, said Chrysler spokesman Nick Cappa.

"There has to be a customer value there," he said. "It has to pay for itself."

For the U.S. passenger car market, there's an additional cost hurdle: It's harder for diesel engines to meet strict clean-air requirements here. They produce lots of noxious fumes and particles that require expensive exhaust treatment systems.

But with new ultra-clean diesel fuel now readily available at American gas stations and new exhaust-cleaning technology in cars, various automakers hope to introduce a new generation of clean-diesel cars here over the next couple of years.

But like hybrids, these new diesels will be more expensive than similar gas-powered cars. The mark-up may not be quite as much, though.

Volkswagen estimates that the 2009 Jetta diesel will cost about $2,000 more than the gas-powered version. Official pricing hasn't been announced yet, though. (The 2006 model year was the last time VW sold diesel cars in the U.S.)

Manufacturers almost always add unrelated equipment to hybrids, so it's difficult to estimate a cost, but hybrids usually cost at least $2,500 more than non-hybrid versions of the same vehicle.

Add those numbers altogether, and a hybrid diesel would be dauntingly expensive, even if federal tax incentives were factored in.

Buyers could also lose another big cost benefit: excellent resale value. Diesel engines last longer than gas engines so diesel cars are worth more after years of driving.

Hybrids, on other hand, generally do worse than other cars in resale value, according to Kelley Blue Book. Combine a hybrid and a diesel, and its resale value is anybody's guess, said Robyn Eckard, a Kelley Blue Book spokeswoman.

On its way to the U.S.A.

For now, the Golf TDI Hybrid comes closest to making sense in Europe. Diesel fuel generally costs less than gas there, adding to the financial benefit of greater fuel efficiency. And European regulations don't require all the pricey emission-cleaning technology needed to sell diesels in the U.S. That's why diesels make up about half of new car sales in Europe.

Technology costs will come down over time, though, points out VW's Price. "The costs of all technologies come down with acceptance," he said.

If a diesel hybrid is a hit in Europe, and VW were to ramp up production, that could bring down the per-unit costs, he said. And that could open the door to selling such a car in the United States.

By that time, U.S. consumers should be familiar with VW's - and other companies' - new diesels, said Price.

And if any company could make it work in the United States, it would be VW, said Charlie Vogelheim, vice president of J.D. Power and Associates.

Even though they're not currently sold here, VW's diesels still have a strong cult following, he said: "It's like 'I don't care what anyone else thinks, I love my diesel car."

March 7, 2008:SOURCE CNN NEWS

Sat, 22 March 2008
UK ATM gives shoppers double-money
Saturday Mar 22 08:59 AEDT

A British cash machine became a big hit this week after it started paying out twice as much money as it should.

The ATM, outside a supermarket in they city of Hull in northern England, began spewing out double the money on Tuesday afternoon and continued doing so for several hours, drawing a crowd of hundreds eager to cash in on the mistake.

Those requesting the maximum daily withdrawal of 300 pounds ($A658) were being given 600 pounds and a receipt for 300.

"People were calling their mates up and telling them to get down there," the Hull Daily Mail quoted a passer-by as saying.

After several hours the machine finally ran out of money.

Payzone, a company that administers ATMs, would not comment in detail on the incident but said it appeared one of its machines had malfunctioned.

Police said those who had benefited could face charges but only if the operator complained.

SOURCE: NINE NEWS

Thu, 17 April 2008
Eddy Groves offloads Brisbane Bullets
April 17, 2008 12:00am

FOR an entrepreneur with a passion for basketball who was selling his own team, Eddy Groves was surprisingly upbeat yesterday.

"It's been a few dollars under the bridge and there's been a bit of pain," he said of the nine years owning the Brisbane Bullets.

"But it's been a great time."

The sale comes amid trouble at childcare chain ABC Learning Centres, where Mr Groves is chief executive.

ABC shares have plunged heavily, profit results have confused analysts and Mr Groves' own stockholdings have been wiped out.

Mr Groves said a sale of the Bullets had been considered earlier.

"I thought I'd go again with another year, and then circumstances have overtaken things," he said.

"I've got to focus all my attention on ABC and I want to send that message loud and clearly to shareholders -- I have no other interests."

Mr Groves sold the Bullets for an undisclosed sum to a group of businessmen led by David Kemp.

Mr Groves' ownership of the Bullets has been praised for supporting basketball -- but it also attracted concerns as ABC sponsored the team and gave tickets to families.

More than 10 ABC affiliated companies were backers of the Bullets.

However, Mr Groves has maintained there was never pressure between the affiliated companies, relationships were long-running and many sponsors were businesses not linked to ABC.

Mr Groves remained tight-lipped on ABC issues, such as talk of a lower price for a US deal, a possible rights issue and private operation Childcare Providers.

He also declined to comment on Childcare Providers.

BusinessDaily reported recently that Childcare Providers chief executive Viryan Collins-Rubie had personal ties to Mr Groves and that both businesses had worked together.

ABC has maintained all related party disclosure requirements have been met.

But Mr Groves was upbeat about the Bullets, saying highlights of his association with the franchise included winning the NBL title.

"The key thing for me is that the Bullets would continue," he said of the sale.

Despite his high-flying image, often linked to flash cars, Mr Groves left in a modest black four-wheel-drive.

Source: HErald Sun

Sat, 17 May 2008
Banks make $10.5bn in fees
May 15, 2008

BANKS made $10.5 billion in fees in the financial year ended June 2007, up 8 per cent on the previous year, but say the increase is due to higher demand not higher charges.

Commenting on annual data released by the Reserve Bank today, the Australian Bankers Association said the higher fee revenue didn’t mean banks had hiked service charges.

“The main driver of growth in bank service fee revenue has been strong demand for banking products and services, underpinned by a strong economy, rather than increased prices for banking services,” the ABA said.

ABA chief executive David Bell told NEWS.com.au penalty fees had been reduced over the past year.

"Banks have been been reducing or getting rid of some of those fees so there has been some downward pressure on those fees," he said.

What are they making?

For the first time in four years, business paid more in banking fees than households, contributing 58 per cent of the total fee revenue against 42 per cent by households.

Bank fee income from households grew 9 per cent to $4.4 billion, with 40 per cent of that coming from deposit account fees.

Income from housing loan fees grew 8 per cent, and 14 per cent from personal loans – in line with strong demand for credit.

Credit cards are proving good money spinners for banks, with total fee income from plastic surging 170 per cent over the past five years. In 2007, total credit card fees paid by households grew 12 per cent.

Credit card transaction fees, including cash advances, were up 12 per cent, while account servicing fees rose 11 per cent. Credit card penalties and foreign currency conversion fees rose 16 per cent.

What are you paying

Recent analysis by financial research firm Cannex found it costs around $240 a year for customers to keep an account. The research also found that the average consumer spends around $200 a year taking money out of ATMs operated by banks they don’t have an account with.

Cannex said the highest account-keeping fee was charged by the National Australia Bank for its Gold Banking account ($12 a month), while the ANZ's Equity Manager account had no account-keeping fee.

Political pressure

The Federal Government is pushing an Account Switching Package to help make it easier to for people to change accounts and banks.

The package means customers who want to switch banks have to be given a copy of all of the direct debits and payments they have set up for their accounts, in order to make the transition easier.

Treasurer Wayne Swan is also putting pressure on banks to change their fee structure.

Earlier this month Mr Swan wrote to the chief executives of Westpac, Commonwealth, ANZ, NAB and St George, urging them to drop bank fees. He warned if they didn’t act off their own bat he would consider regulation to force them to do so.

"I would encourage lenders to review their existing fee structures, especially where exit fees are high relative to industry averages and might not reflect the underlying cost of terminating the loan," Mr Swan said, in his letter.

The letter came after a review of bank fees found Australian customers were paying more for services than their counterparts in Britain and the US.

Despite the criticism banks are reluctant to cut fees, warning that if fees came down they would need to look at recouping the money elsewhere, most likely in the form of interest rate hikes on home loans.

Mr Bell said he believed banks' mortgage exit fees were fair.

"We think the attention should be focused on non-APRA regulated lenders because they charge a hell of a lot more than we do," he said.

"The RBA has concluded very clearly that the growth in fee income appears to be the result of greater use of banking services rather than higher unit charges."

SOURCE: News.com

Sun, 25 May 2008
Record gas prices force some would-be holiday weekend drivers to stay off the roads. Travel expected to lessen for first time since 2002.
May 23, 2008

NEW YORK -- Travelers taking to the road this Memorial Day weekend face soaring costs as prices at the pump continued their record run Friday.

The nationwide average for a gallon of regular unleaded gasoline rose to $3.875, up from $3.831 the previous day, according to the most recent reading from motorist group AAA. That's the 16th consecutive record for gas prices, which have now risen for 17 straight days.

Retail gas prices are up nearly 10% from a month ago and have climbed more than 20% in the last 12 months. Last Memorial Day weekend, drivers only had to shell out an average of $3.23 for a gallon of gas.

The surge in prices is keeping some drivers off the road. For the first time since 2002, Americans plan to drive less on Memorial Day weekend than they did the year before, according to AAA.

The number of Americans traveling 50 or more miles from home this holiday weekend will slip by 0.9% to 37.87 million, the motorist group forecast last week.

"Most people are going to travel closer to home this year, and they're going to take fewer trips," said AAA spokesman Mike Pina.

Among the estimated 12% of Americans who will be traveling this weekend, AAA said 31.7 million people, or 83%, are expected to drive. That's slightly fewer than the 32 million Memorial Day drivers a year ago.

Moet Muller, a New York chef won't be traveling this weekend because he doesn't drive.

"I'm glad I don't - the subway will do just fine for me," Muller said. "Who wants to pay $3.80?"

The AAA survey was conducted during the last week of April, when gas was only at $3.50 a gallon. Now, Alaska, Connecticut, Illinois, New York, California, Hawaii and Michigan are all averaging over $4 per gallon. Only Wyoming and Arizona have an average that's under $3.70 a gallon.

A Deloitte & Touche survey of more than 1,000 Americans conducted May 12-14 found that, as a result of the rise in gas prices, 23% of Americans have altered their Memorial Day weekend travel plans.

Deloitte & Touche found that 12% of would-be travelers are cancelling their vacation plans altogether, and 11% plan on traveling closer to home.

Holly Horden, a medical facility employee from New Brunswick, Conn. decided to cancel her Memorial Day trip to New Jersey in addition to a New Hampshire trip she scheduled for later in the year.

"We did it last year, and it's going to be half the price [it would cost] this year," said Horden.

The average traveler is expected to drive 91 miles to and from home this weekend, according to the Deloitte & Touche survey. The average car gets 20.2 miles per gallon, according to the U.S. Environmental Protection Agency, so that 91-mile trip will cost drivers $34.92. Last year, that same trip would have cost $29.10.

Fashion merchandising students Samantha Matlock and Jill Habner from Dallas, Texas drove to New York for Memorial Day weekend on Friday. Though high gas prices have tightened their budget, they still decided to travel by car for 11 hours.

When asked if gas prices have affected their travel, Habner said, "It should."

"But it doesn't," added Matlock. "We still want to travel."

Air travel will give vacationers no respite from high fuel costs: For the 11% of travelers who plan on flying, the price of a ticket will be 8% higher than it was last year. Most U.S. air carriers have announced a fuel surcharge that will be added to ticket prices this spring.

Much of the run-up in gasoline can be attributed to record crude oil prices, which have more than doubled over the past year and surpassed $135 a barrel Thursday.

SOURCE: CNN MONEY

Sat, 31 May 2008
Rudd defends petrol policy
May 31 2008

In an article from AAP PM Kevin Rudd defends the petrol price policy.

Stating "there is no silver bullet to fix the problem,through the Budget, the Government had done "as much as we physically can" to help."

Mr Rudd was grilled by voters for almost an hour by TV studio audience But it was the price of petrol that dominated the discussion.

He said the price of petrol, which hit a record high of $1.62 per litre in capital cities earlier this week, was largely out of his control.

"When it comes to things you do not have direct control over, obviously in terms of the global price of oil, then what you can do is simply act in the other areas to make sure that there are some more dollars to draw upon in terms of the family budget."

Mr Rudd also defended the planned FuelWatch program and criticisms that the Government would simply be watching fuel prices while the coalition's policy of reducing the fuel excise by five cents per litre would have a real impact.

He said the responsible course of action was to maximise competition among the petrol companies.

All this on the back of fuel companies release of net profits being made public.

Caltex reported net profit after tax in 2007 was $444 million on a replacement cost of sales basis, which removes the effect of oil price movements.

Royal Dutch Shell and BP, Europe's two largest oil companies, both saw first quarter profits jump thanks to record crude prices and higher natural gas prices.Shell's first quarter profits rose 25pc to $9bn, while BP's profit soared to $7.6bn from $4.6bn in the same period.

While US Based Chevron posts record $18.7 billion profit in 2007, the fourth consecutive year that the San Ramon company made record amounts of money.

Other companies have made even more. Exxon Mobil, the country's largest oil company, reported on Friday that its 2007 profit hit $40.6 billion, a 3 percent increase from 2006, while sales passed $404 billion. No American business has ever scored a higher profit.

"The major oil companies' incredible profits, boosted by multibillion-dollar tax subsidies to the industry, are ultimately clobbering taxpayers," said Judy Dugan, research director for the Foundation for Taxpayer and Consumer Rights.

Here in Australia it seems the skyhigh price of petrol will soon be felt more than just at the bowser, with the earnings of companies expected to be downgraded as profit margins are squeezed by higher oil prices.

The usual suspects of airlines and transport companies are in the sights of analysts at the moment, as they question what effect on the bottom line there will be from oil prices remaining above the $US130 per barrel mark.

However, the effect of higher oil prices will be felt across the market, particularly in the second half of the year, as the input and transport costs move higher and the spending patterns of consumer are crimped as they pay more for fuel.

It needs to be remembered that despite the current hubbub surrounding fuel prices, Rudd and Wayne Swan have not actually done anything from a serious policy perspective that will bring down the price at the petrol bowser for consumers.

Whilst a showdown with the states is looming over the proposal to scrap the GST that is levied on the fuel excise.

In reality, Rudd has only moved to include the GST arrangements on excise in the broad review of the national taxation system to be headed by Ken Henry.

The inquiry could report defiantly that the ``tax on a tax'' should be scrapped but the government does not have to follow suit. Like the majority of these reviews, the recommendations could be ``reviewed' by the government with little actual outcome.

The "tax on a tax" issue and fuel prices is an issue that if continued could see prices hikes for us all in groceries, produce and most consumer goods which will undoubtedly severely effect the economy and affordability crisis looming for all Australians.

How much longer Mr Rudd do we need to allow the Oil companies to create record (almost criminal) amounts of profit and seemingly hold the world to ransom with fuel prices, whilst almost all governments worldwide claim to be powerless in the effort to control ever increasing bowser prices ?

Do we see a whole transport industry crippled, or smaller operators closed their doors due to rising costs leading to major shortages of basic living needs shortages in groceries and produce before any steps by not only governments, but bodies like the ACCC.

The Mega rich tyccons of places like Dubia must be rubbing thier wallets daily whilst planning more spectacular and incredible feats of architecture rising up out of the once deserted strip that was named the main street of dubia in the early 90's.

Author: Craig OBrien

Sources: ABC NEWS, AAP, NEWS.COM, The Chronicle, Bloomberg



Tue, 10 June 2008
Fuel Prices: The Mass Debate
10 June 2008

Or How to Knock About 50c a Litre Off the Price Of Fuel

First and foremost this debate should be centred on Diesel NOT Unleaded. Why? You may ask. Just look at the increase in supermarket prices for your answer. While it may cost you $5 or $10 extra to fill your tank everything that is transported (which is everything) rises as Diesel rises. My average basket at the supermarket per week has increased on average $30 and that’s for one person. Australia’s whole economy is tied to Diesel and therefore it should be afforded the same priority and status as water i.e. an essential commodity.

I own a small transport company and I have had to significantly raise my prices twice in the past year just to maintain profit margins. This cost you money too.

I am compelled to write this letter because I am sick of all the namby-pamby pussyfooting around everyone seems to be doing about the current fuel debate. I have spent considerable time researching this area because it affects my income. Contained herein is the WHOLE truth about the debate, the WHOLE big picture, if you will. NO-ONE till now has had the testicular fortitude to stick their necks out and present the WHOLE argument about just how much we are being RIPPED OFF. If you want the truth and the WHOLE truth read on.

DON’T – Listen to spin doctors from the oil companies. THEY HAVE A VESTED INTREST TO KEEP FUEL PRICES HIGH.

DON’T – Listen to the government – state or federal. THEY HAVE A VESTED INTREST TO KEEP FUEL PRICES HIGH.

DON’T – pay too much attention to news or current affairs programs. THEY HAVE THEIR OWN AGENDAS.

So here we go, how to make fuel cheaper!

FIRSTLY – DISBAND FUEL PARITY

Parity, for those that don’t know, is government sanctioned price fixing (simple as that). Parity allows fuel companies to sell their products for the highest current price they find in the Asia Pacific region. It completely disregards supply and demand economics and eliminates any need for competition amongst themselves.

Don’t believe me? Just look at the price of Diesel. If you remember growing up when Diesel was always 10-15c p/l cheaper than Petrol you might understand this more.

How can a product that costs far less to produce (partially a by-product of producing Unleaded as well) and a product that Australia uses more of than any other fuel be MORE EXPENSIVE than Unleaded? Simple, ring Singapore, where they don’t use a lot of Diesel and import all their fuel, find out how much it’s selling for there and charge the same here – sound fair? NOT!

Any other industry who tried this one would be hauled of to the High Court quick smart and prosecuted for price fixing! Oh but hang on, our government ALLOWS them to do this

NUMBER TWO – BARRELL PRICE

That price the news loves to show us each night is the PREMIUM GRADE crude oil price. Australian oil companies DO NOT buy PREMIUM GRADE crude oil! In fact Australia produces around 70% of its own oil and imports about 30%. The cost of production per litre produced here is cheaper than that of imported fuel, but in no way is this factored into the pump price, because they don’t need to (SEE PARITY ABOVE) we pay a pump price based on PREMIUM GRADE crude oil price the same as if we imported all of it, say somewhere like Singapore! Starting to get the picture?

NUMBER THREE – LEVIES

Everyone knows that both State and Federal Governments take a large slice of the cost of a litre of fuel. This equates in total to about 46% of the price per litre. This money is used for infrastructure, road trauma etc. etc. so fair enough right? WRONG!

What is wrong is that it is a PERCENATGE! Look at this. If a litre of fuel costs $1.00 then the Government gets 46c p/l, right? A week later fuel rises to $1.10 p/l; the Government gets 50.6c p/l, bingo! Something tells me that in one week, their costs, IN NO WAY have gone up 9%!

As I stated previously – THE GOVERNMENT HAS A VESTED INTREST TO KEEP FUEL PRICES HIGH. THEY MAKE LOTS MORE FREE MONEY! Why else do they allow fuel companies to maintain PARITY?

If they changed the tax (sorry, levy) to a flat rate tied to the GDP then the fuel price would drop drastically and immediately!

NUMBER FOUR – GST - THE DOUBLE DIPP

Now this one is outright “THIEVERY” and also applies to cigarettes and alcohol.

GST = Goods and Services Tax, correct?

46% or 46c in every dollar in the price of a litre of fuel is TAX (sorry; again, LEVY).

What part of LEVY is a good or a service? YOU CANNOT TAX, TAX RIGHT? WRONG!

You do the math.

Say fuel costs $1.00 p/l – the GST component = 9c

But hang on a minute 46% or 46c of this is TAX!

i.e., 4.14c of the GST is ILLEGALLY CHARGED ON THE TAX COMPONENT! Not much you say?

FOR EVERY LITRE SOLD IN AUSTRALIA EVERY DAY!

That equates to millions of free dollars for the Government! I’ll say it one more time - THE GOVERNMENT HAS A VESTED INTREST TO KEEP FUEL PRICES HIGH. THEY MAKE LOTS MORE FREE MONEY!

The GST on fuel should be 5.4% not 10%. At $1.75 p/l this would drop the current price by around 8c p/l.

Feeling a little annoyed? You should be!

Even without disbanding parity and introducing real competition among fuel companies, you should be paying about 40c less per litre!

My name is Graeme Strempel, (gusto1@arach.net.au) and I run a small transport business, I happily welcome anyone, Government and fuel companies included to prove me wrong.

If you feel strongly about this issue then pass this missive on to everyone in your address book. Eventually someone might take notice.

SOURCE: GREAME STREMPEL

Mon, 23 June 2008
Fuel Price -World protests spread
Is Australia NEXT?, maybe we should be ??

Whilst I agree something needs to be done, some other countries methods are maybe a bit over the top, but i guess how else are they to be heard.....So what is next in the global debate that i simply describe as the OIL COMPANIES HOLDING THE WORLD TO RANSOME!.

Artcicle source ABC NEWS Fri Jun 20, 2008

Spanish farmers marched, Israeli truckers slowed rush-hour traffic and Nepali students stoned cars overnight in anger at rising fuel prices and inflation that they say are crippling their economies.

Protests by truckers, taxi drivers, fishermen and farmers demanding fuel tax breaks have spread across the world, increasing fears of political instability and a global economic downturn.

The oil price, which dipped $US3 to $US133 after China's announcement, has touched record highs near $US140 in recent months, fuelling inflation and squeezing business margins.

In Madrid, thousands of farmers brought traffic to a halt on the capital's busiest road to demand lower diesel tax to help cushion the blow of higher fuel costs and low producer prices.

"This is the last straw. If good spring rain hadn't arrived this year and last, we would already have gone bust," sugarbeet farmer Evaristo Ortega said.

"The price of diesel and fertiliser is impossible to bear."

Diesel prices have shot up to around 1 euro ($1.62), from 60 cents a year ago, farmers said as they marched past soccer club Real Madrid's Bernabeu Stadium carrying banners reading: "For the future of our countryside."

For Greeks, the cost of living has replaced unemployment as the top concern, unions said.

Food prices have risen and motorists pay 13 per cent more for fuel than a year ago and heating oil costs 38 per cent more.

Labour unions have called for rallies in Athens to protest against the conservative Government's failure to rein in the price increases.

"Business interests have staged a party while the Government is duping us with its ineffective measures to contain rising prices," president of Greece's largest labour confederation, Yannis Panagopoulos said.

But Germany and other European Union states said they would reject a fuel tax break plan sought by France to cushion rising oil prices.

A senior French official said President Nicolas Sarkozy would ask EU peers to back a reduction in value-added tax on petrol across the 27-nation bloc.

In Berlin, German Chancellor Angela Merkel told Parliament: "In our view, financial policy intervention, which is being discussed again and again ... should be avoided."

Swedish Prime Minister Fredrik Reinfeldt went further and told reporters that Europeans should work longer hours and pay less income tax to cope with rising prices.

"I am asking myself ... that we might ease up on income taxes to make work pay even further, so that people could react to the fact that an increase in the petrol price could be met by working some extra hours," Mr Reinfeldt said.



Fri, 27 June 2008
Truck drivers protest over soaring fuel prices
27 June 2008

EUROPEAN leaders are struggling to defuse growing anger over soaring fuel prices as fisherman and truck drivers staged protests in several countries with more strikes planned in coming days.

The protests came as French President Nicolas Sarkozy called for a Europe-wide cut in oil taxes to help consumers and European ministers appealed for direct EU aid to help the hard-hit fishing industry.

Fishermen and truck drivers were in the vanguard of the protests across western Europe over rising fuel costs, amid recent record global oil prices over $US130 ($135) a barrel.

French riot police cleared blockading fishermen from an oil depot at Fos-sur-Mer near Marseille, but off the north coast of France, fishing fleets resumed blockades of ports and cross-Channel ferries over high fuel prices.

In London meanwhile, hundreds of angry haulage truckers, horns blaring, drove their vehicles in a rolling protest through the capital.

They handed a petition to Downing Street demanding a rebate in fuel tax.

About a hundred drivers staged a similar protest in the Welsh capital Cardiff.

In Spain, truck drivers joined striking fishermen in calling for government help to cover soaring fuel costs, before a meeting between road transport firm bosses and Transport Ministry officials. Italian, Greek and Portuguese fishermen may strike later this week.

Meanwhile here in Australia Truck drivers in Western Australia have threatened a state of chaos within six weeks if they don't get relief at the petrol pump. The Transport Workers Union gave a taste of the disruption they can cause today by setting up a blockade around Western Australia's Parliament House.

Hundreds of trucks arrived at Parliament House early this morning. Police had to rush to set up barricades so parliamentarians would be able to get to work. The blockade caused chaos in a city that's not used to the kind of crawling traffic typical in Sydney or Melbourne. The Transport Workers Union secretary, Jim McGibbon, says there'll be worst to come if something's not done about the high price of petrol.

The same In Queensland with a planned blockade of all major roads is reported to be coming for the Brisbane Metro area and west to Toowoomba at the end of this month (June), sending a clear message to our PM about the crippling price of diesel soaring to as much as nearly $2.00 per litre in some parts of the state. Placing a clear emphasis on the importance of removing the "TAX on TAX" scheme currently in place and showing that the transport industry can clearly return the so called " Holding for Ransome" that oil companies worldwide are currently displaying.

SOURCE : News.com , ABC News and Webmaster

Mon, 30 June 2008
Queensland Roads Chaosover Fuel Prices
June 30 2008

In the Article below i simply stated what transport industry sources were planning,I actually got the month wrong and this is planned for the end of JULY 2008.

Wether you read this in Australia or any part of the world for that matter, please understand this is only my opinion, which is that i think whether you drive a car or own a whole fleet of trucks, ride a pushbike even, we all need to get behind this, because it affects every single one of us, from kids and those that use public transport like buses and trains, to every day people, everything including groceries, building materials, general freight, houshold goods, the list is never ending for what is being affected by the rising cost of fuel, and it affects us all. These cost are flowing back to us, the end user.

Those who may say it's extreme,i will agree with also, as i said though its all just my opinion, but what else and how else do we get our government and the oil companies (that continue to push up these prices for apparently no other reason that profit margins) to listen to the public ?

Use the media to our gain, because that is what they are doing to us, create a big enough event that will bring worldwide media attention, in other parts of the world far worse and things of a more extreme nature are being done in protest over fuel prices.

So...lets support this, if it happens join in the trucks drivers efforts, even if its in your car, on your bike, or on foot, the more people the better. Let Get the message across peacefully but clearly.

Truck drivers in Western Australia have threatened a "State of Chaos" within six weeks if they don't get relief at the petrol pump. The Transport Workers Union gave a taste of the disruption they can cause today by setting up a blockade around Western Australia's Parliament House.

Hundreds of trucks arrived at Parliament House early this morning. Police had to rush to set up barricades so parliamentarians would be able to get to work. The blockade caused chaos in a city that's not used to the kind of crawling traffic typical in Sydney or Melbourne. The Transport Workers Union secretary, Jim McGibbon, says there'll be worst to come if something's not done about the high price of petrol.

The same In Queensland with a planned blockade of all major roads is reported to be coming for the Brisbane Metro area and west to Toowoomba at the end of the month (July), sending a clear message to our PM about the crippling price of diesel soaring to as much as nearly $2.00 per litre in some parts of the state. Placing a clear emphasis on the importance of removing the "TAX on TAX" scheme currently in place and showing that the transport industry can clearly return the so called " Holding for Ransome" that oil companies worldwide are currently displaying.

This planned blockade of Queensland roads will be one on a scale to cripple all major roads in and out of Brisbane and Toowoomba for up to 48 hours according to industry sources.

As much as this planned blockade will send a clear message, it is yet to confirmed.

It would be a sight to see, though with continual pressure worldwide on relief for transport operators of all kinds, and the growing pressure on governments to remove exise and taxes, i think this kind of protest is almost A MUST to show our government the message of unity amongst the transport industry as a whole, from big operators to small and owner drivers !

Source : ABC news and Webmaster

Sun, 06 July 2008
Philippines joins global fuel price protests
13 June 2008

A Filipino left activist wrote in a June 12 post on the Green Left discussion list: “The fuel-hike protests in the Philippines are now underway. As I write 100 trucks and 500 pedi-cab (tricycle drivers) are marching to Mendiola, Malacanang Palace.

“The protests have been organised by the broad alliance of transport organizations called Alliance of Concerned Transport (ACT NOW!). It’s demands are: scrapping of 12% VAT on all petroleum products; moratorium on oil price increase; and junk oil deregulation.”

The PDI article reported: “The protest action caused a monstrous traffic jam for about an hour on the streets leading to Malacanang and the University Belt and the areas around them.”

Accoring to the article, police stated that “some 80 tractor and trailer trucks and 50 tricycles blocked Bustillos Street in Sampaloc. A phalanx of anti-riot police officers prevented the convoy from reaching the country’s seat of power.”

Protest organiser Dante Lagman was quoted declaring: “It’s the government’s job to protect its people. If the government wants to address sincerely the global crisis on oil, it must implement measures that would immediately trickle down to the masses …”

“Gasoline prices in the Philippines have risen 14 times since the start of the year”, according to the PDI, “for a total increase of about 24 percent”. Inflation has also surged over recent months.

The Philippines protests came as strikes by truck drivers continued in Spain and Portugal. A June 12 AFP report stated: “Two truck drivers have been killed on picket lines in Spain and Portugal as strikes over soaring fuel prices turned deadly.”

According to the AFP, in Spain “Tens of thousands of truckers are on strike or joining the protests to demand government help to offset the higher fuel costs … Arrivals of fresh meat, fish and fruit in Madrid have come to a near halt. Most of the country’s car plants have had to cut or halt production, due to the strike action.

The AFP reports: “French railway workers began their own walkout on Tuesday, increasing Europe’s transport chaos.”

SOURCE: greenleft.org.au

Thu, 17 July 2008
LPG price 'will rise due to carbon tax'
July 16, 2008

THE Federal Government has failed to take into account the impact its model for an emissions trading scheme (ETS) will have on the price of LPG, Opposition climate spokesman Greg Hunt says.

The Opposition has voiced support for the government's plan to offset the impact of the emissions scheme on the price of petrol through a cut in the fuel excise.

However, Mr Hunt said the offset should be permanent rather than just for the first three years of the emission scheme's life, as the government proposed.

He raised concerns about the impact of the government's plans on the price of liquid petroleum gas (LPG), which does not attract an excise.

"It does appear that LPG may be set to rise immediately - clean-burning fuel will have a new tax on it immediately," Mr Hunt told Sky News today.

"We want the government to guarantee that (the price of) LPG won't rise immediately," he said.

SOURCE: NEWS.COM

Wed, 23 July 2008
Truckers form fuel price protest convoy
Wed Jul 23 2008

More than 100 heavy trucks have formed a go slow convoy from the NSW Southern Highlands to Sydney on Wednesday, in a protest against high fuel prices.

Some 40 trucks met at Sutton Forest about 6am (AEST) for the two-hour trip north on the Hume Highway to Casula, Transport Workers Union (TWU) spokesman Joshua McIntosh said.

The number of participating trucks grew to "just over 100" during the trip, he said.

The trucks moved at about 60km/h in the left-hand lane of the Hume Highway under police escort and the Roads and Traffic Authority (RTA) reported no traffic flow problems.

Mr McIntosh said the aim of the convoy was to attract attention to the impact of the rising cost of fuel.

The union says drivers are having to absorb the spikes in fuel prices along with the cost of maintaining their vehicles.

Retailers increasing the cost of their goods blame the rising price of fuel, but those increases are not being passed onto drivers, it says.

Mr McIntosh said the feedback from drivers taking part in Wednesday's convoy was "positive".

"I know there's a lot of support coming from, especially, drivers travelling south, who can't be a part of the convoy," he told AAP.

"But this is what we want, to attract some attention, to let people know about the impact rising petrol prices is having on the transport industry."

It was the second such protest this month, after at least 60 trucks took part in a go slow convoy down the F3 to Sydney on July 1.

SOURCE: NINEMSN

Sun, 03 August 2008
Motorists petrol-buying habits changing
Aug 3 2008

Australian motorists are changing their petrol-buying habits, with cheaper and more environmentally friendly ethanol-blended fuel growing in popularity.

APAC Biofuel Consultants has released its annual report showing that the biofuel sector is currently contributing about 3,000 barrels per day to the Australian transport fuel supply.

This is just over 50 per cent of the way to meeting the 350 million litres per year target by 2010, set by the previous federal government.

"The number of retail outlets selling ethanol blend has increased three-fold over the past two years, concentrating in Queensland and New South Wales and to a lesser extent in South Australia and Victoria," APAC Consultants joint chief executive officer Mike Cochran said.

He said there had been a three-fold increase in ethanol-blended petrol sales over the past 12 months.

While traditional fuels originate from oil, biofuels are partly from biological sources.

Mr Cochran told AAP ethanol-blended petrol was 10 per cent ethanol and 90 per cent petrol, sold for about two cents less than standard petrol and was a cleaner burning fuel.

Biodiesel is produced using oils like canola or palm and is blended with diesel.

Asked to explain the growing popularity of biofuels, Mr Cochran said: "Price would be a contributor but I think people are interested in being more environmental about their fuels and also promoting an alternative source of fuel".

Ethanol-blended petrol can be used in most vehicles manufactured after 1985, while most diesel vehicles can use a mix of five per cent biodiesel mixed with normal diesel.

SOURCE: NINEMSN

Sun, 17 August 2008
Why Warming Your Car in Winter is Burning a Hole in Your Pocket
17 August 2008

Winter is a difficult time for drivers. It does it's best to wreak havoc on your gas mileage. You may be playing the part of an unwitting ally to winter's effect on your fuel economy. Improperly warming your car up could be burning a hole in your pocket.

Drivers are in the habit of warming their vehicle up in winter temperatures. Drivers seem to be under the mistaken idea that they need to warm up their car for it to operate properly. By warming up they mean idling the car for a considerable amount of time before driving. This misnomer is costing you money.

Many drivers idle their car for 5 to 10 minutes in the winter to let their cars warm up. You should not let your car idle for more than 30 seconds. You need no more than 30 seconds of idling to circulate the engine oil before you can drive away on cold days

When you idle your car to warm it up you are burning gas but not going anywhere. When you let that happen you are getting zero miles per gallon. You may think that idling your car for few minutes or so is no big deal, think again.

To get an idea about how much fuel you are burning by letting your car idle for 5 to 10 minutes when you start it consider this. Assume you idle on the short side, only 5 minutes when you start your car in the morning. Most likely you idle for 5 minutes again, when you start your car again to drive home.

Therefore your car is idling for a minimum of 10 minutes a day. For illustrative purposes we consider winter to be four months long, or 120 days long. If a car is idling for 10 minutes a day for 120 days then it is idling for 1200 minutes during the winter period.

1200 Minutes is 20 hours. Think about it, warming your car for only 5 minutes per start amounts to your car idling and burning gas going nowhere, for 20 hours. Can you visualize your car sitting and idling for 20 hours? Of course not. Then why warm it up for the equivalent of 20 hours of burning gas when it is completely unnecessary?

Warm your car up by driving it. To operate efficiently your car needs to warm up other parts in addition to the engine. Tires, transmission, wheel bearings and other moving parts also need to warm up. Your car's catalytic converter doesn't function at its peak until it reaches between 400C and 800C. The only way these other parts warm up is by driving. The reality is, to warm your car up completely you have to drive it anyway.

To save gas and increase gas mileage in the winter one of the simplest things you can do is warm your car by driving it, not by idling. Not only will it save you gas and money but you will also be doing something positive for the environment. That warm car will stop burning a hole in your pocket.

Source:www.fuelcostangel.com/newsarticles

Sun, 24 August 2008
Rice's girls night out with medley rival
Sun Aug 24 2008

Stephanie Rice has been spotted enjoying a hot night out with an American swimmer who has been described as a 'super fish' … but it's definitely not Michael Phelps.

In a stunning development uncovered exclusively by ninemsn, the Aussie golden girl has instead been hitting Beijing's bars and dance floors with medley rival Katie Hoff — and any competitive tension between the two has apparently been replaced with something else altogether.

A nightclubbing source claims the duo have been inseparable on the clubbing scene and were cuddly as they partied at the Bud Bar earlier this morning.

"It didn't look like a stunt — it's just a dark little bar and they didn't seem to realise anyone was watching," our source said.

"They were dancing away and very cosy together … they only stayed for about 20 minutes then left at around 3am."

Rice and Hoff were dressed similarly in blousy dresses and strappy sandals and went largely unnoticed by the mostly ex-pat crowd.

The sightings follow rumours of a Beijing fling between Rice and Michael Phelps.

Fresh from their combined haul of 11 gold medals, Phelps and Rice — who will carry the Australian flag at the closing ceremony — were reportedly spotted kissing at an Olympic village party on Monday night.

The following day, the pair cheekily cuddled for the cameras at a sponsor's media day as Phelps removed his shirt.

Rice was the most successful woman swimmer at the Beijing Games: she won gold medals in the 400m individual medley, the 200m individual medley and the 4x200m freestyle relay.

SOURCE: NINEMSN

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