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Automotive News Archive10-May-2006California Subpoenas Oil Refiners California Attorney General Bill Lockyer says he will subpoena documents from all 21 California oil refineries to determine whether they are profiteering and gouging consumers. Companies targeted by the subpoenas will include ChevronTexaco, ExxonMobil, ConocoPhillips, Valero, Shell, BP and others. Hot-Selling GM Products No Bargain for Consumers What is good for General Motors these days may not necessarily be good for the automotive consumer. Take a look at two hot GM products currently making money for the struggling automaker -- the Chevy Tahoe and the SUV sold as the Chevy Suburban, GMC Yukon XL and Cadillac Escalade. Gas Prices Don't Slow Gas Guzzler Sales With U.S. gasoline prices racing back to record highs, consumers are still buying big, gas-guzzling engines, at least for now. New Fuel Economy Standards Favor U.S. Automakers The Bush administration plans to raise the average fuel-economy standard for light trucks and sport utility vehicles to 24 miles per gallon by 2011. The new rules provide a big break for General Motors, Ford Motor Co. and the Chrysler group, which rely on larger trucks for sales and profits. Chevron Reports Huge Profit Chevron Corp., the No. 2 oil company in the U.S. reported quarterly earnings rose 49 percent to $4 billion, topping Wall Street expectations and sparking a 2 percent rise in the stock.
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