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Feb 03, `08 — General Motors will showcase several gas-saving commercial vehicles at the 2008 Chicago Auto Show Feb 6 thru Feb 17.

GM’s Fleet and Commercial Operations (FCO) will display vehicles featuring outstanding fuel economy, E85 ethanol and biodiesel capability, and gas-electric hybrid vehicles designed to help GM customers go green without going broke.

Here are some of the gas-friendly vehicles designed for commercial and business use that will be at the Chicago Auto Show:

Chevrolet Express 3500 Cargo Van
GM’s clean-burning, dependable and powerful 6.6 L Duramax engine can use B5 biodiesel and comes in rear-wheel or all-wheel drive. The Express also has left-hand side load doors and remote release side panels for easy loading and access.

Chevrolet Silverado
The half-ton Silverado gives customers the choice of powering their truck with E85 ethanol, gasoline or a combination of both fuels. In addition, this 2008 Fleet Truck of the Year continues to delight fleet owners with its comfort, capability and best-in-class fuel economy.

Chevrolet Impala Police Pursuit Vehicle
The 2008 Chevrolet Impala Police Car can operate on cleaner-burning, renewable E85 ethanol, an energy source that can help reduce our dependence on petroleum. E85 has been a very popular choice among fleet customers – including law enforcement agencies – because its availability is growing, and because E85 vehicles are an affordable fleet option.

Chevrolet Tahoe Police Pursuit Vehicle
The Tahoe PPV is the only SUV rated as a police pursuit vehicle. The 2008 Tahoe PPV is powered by the Vortec 5.3L V-8 engine delivering 320 horsepower (238 kW) and 340 lb.-ft. of torque (470 Nm). The Vortec 5.3L features Active Fuel Management technology, resulting in improved fuel economy, and can operate on E85 ethanol.

Silverado Hybrid
The 2009 Chevrolet Silverado Hybrid is a full-size pickup that achieves 40-percent greater city fuel economy and a 25-percent improvement in overall fuel economy.

The hybrid system provides all-electric driving at low speeds, allowing fuel savings to be realized even when the truck is fully loaded or towing a trailer. Silverado Hybrid can tow up to 6,100 pounds (2,767 kg).

The Silverado Hybrid goes on sale in late 2008. More at Chicago Auto Show.

Also, the AP reports, “GM says the 2009 GMC Sierra hybrid gets a 25 percent improvement in fuel economy without compromising performance, while its GMC Denali XT concept - a low-slung, muscular utility vehicle - gets 50 percent better fuel economy than a comparable small pickup.

The Sierra is the next large GM vehicle to get the company’s new two-mode hybrid system, which has also been introduced on the Chevrolet Tahoe and GMC Yukon sport utility vehicles and the Chevrolet Silverado pickup. The SUVs are expected to go on sale early this year, while the Silverado and Sierra are scheduled to hit the market at the end of 2008.” More at AP.

Houston, Texas — Feb 01, `08 — Beating its own record to rack up the largest annual corporate profit in American history, Exxon Mobil said Friday it earned $40.6 billion for the year, reaping the benefits of crude-oil prices around $100 a barrel.

Exxon Mobil also topped its own record for profit in a single quarter, posting net income of $11.7 billion for the final three months of the year — about $1 billion more than the same period in 2005, the previous quarterly record.

The annual profit was enough, at $3 a gallon, to buy nearly four 15-gallon fill-ups for the roughly 243 million registered passenger vehicles on American roads. Put another way, it’s almost equal to what Microsoft has offered to buy Yahoo outright.

Chevron, No. 2 behind Exxon Mobil among U.S. oil companies, also had its best year ever in 2007, saying Friday that it banked a profit of $18.7 billion.

The backlash against the oil industry, which has periodically intensified as gasoline prices have risen in recent years, was predictably swift on Friday.

One advocacy group, the Foundation for Taxpayer and Consumer Rights, called the profits “unjustifiable.” Some politicians said Congress should rescind the tax breaks awarded two years ago to encourage oil companies to boost their investments in the United States and increase domestic production.

“Congratulations to Exxon Mobil and Chevron — for reminding Americans why they cringe every time they pull into a gas station,” said Senator Charles Schumer, Democrat of New York.

Shanghai, China — Nov 05, ‘07 — PetroChina Co. almost tripled on its first day of trading in Shanghai, becoming the world’s first company to be valued at $1 trillion, larger than the entire Russian stock market. PetroChina Co. almost tripled on its first day of trading in Shanghai, becoming the world’s first company to be valued at $1 trillion, larger than the entire Russian stock market.

The milestone underlined the ongoing boom on Chinese markets, which have been flooded with ready cash brought by hungry investors who have disregarded warnings that the China bubble is destined to burst eventually.

Asia’s top oil and gas producer already traded in Hong Kong and New York, but PetroChina’s new shares made their debut Monday on the Shanghai bourse after the largest initial public offering ever on the Chinese mainland.

The shares, priced at 16.7 yuan for the IPO, touched a high of 48.62 yuan (6.5 dollars) shortly after the market’s opening, an increase of 191 percent that valued the firm at about 600 billion dollars more than ExxonMobil. The IPO of PetroChina, which raised nearly nine billion dollars in its sale of four billion shares, is the world’s biggest this year and the largest in mainland China’s history.

The oil producer’s Shanghai listing pushes China’s stock market beyond the U.K. as the world’s third-largest. PetroChina trades at 55 times earnings, four times Exxon’s ratio of 13 times earnings and near the 58 times for Google Inc., the world’s most-used Internet search engine.

In terms of earnings, however, PetroChina does not even make it into the top 50 companies of the world, raising a red flag both about the valuation of the firm and the overall sustainability of the Chinese stock boom.

China’s largest oil and gas producer had 20.5 billion barrels of oil and gas reserves in 2006, compared with 22.1 billion for Irving, Texas-based Exxon, data compiled by Bloomberg show. PetroChina has been adding new reserves at an average annual rate of 5 percent for the past three years, a faster pace than Exxon, Royal Dutch Shell Plc and BP Plc, the world’s largest oil companies by sales.