Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Mon, Jun 8 1992 Date: Mon, 8 Jun 92 05:19:51 EDT Message-ID: 06-08 0000 DECISIONLINE: Energy USA TODAY Update June 8, 1992 Source: USA TODAY:Gannett National Information Network OIL HITS HIGH FOR YEAR AGAIN: Crude oil advanced and hit a new high for the year again Friday in moderate trading. Light sweet crude oil for delivery in July, which rose 5 cents on Thursday, added another 14 cents to settle at $22.62 per barrel on the New York Mercantile Exchange, a new high for 1992. The near-term contract recorded yearly highs on both Wednesday and Thursday. REFINED PRODUCTS ADVANCE: Refined petroleum products advanced Friday to close at their best levels for the year at the Mercantile Exchange. Unleaded gasoline for delivery in July settled at 67.24 cents a gallon, up .07 cent. Home heating oil for delivery in July settled at 61.85 cents a gallon, up .98 cent. Natural gas for July delivery settled at $1.653 per 1,000 cubic feet, up 44 cents. OPEC PUMPED MORE IN MAY: The Organization of Petroleum Exporting Countries pumped a little more oil in May than April as demand grew in North America, the International Energy Agency said Friday. The IEA said in its monthly report that the 13 OPEC countries extracted 23.5 million barrels of oil per day in May, 200,000 more than in April. It had originally put OPEC April output at 23.5 million barrels per day. NEW BATTERY MAY GIVE JUMP START: Electric-car market share may have received a boost recently with the introduction of a battery that promises to double or even triple vehicle range and last the life of the vehicle. Carmakers have said that an electric car's short range and two- to three-year battery life were major drawbacks. But the new battery announced last week by the U.S. Advanced Battery Consortium may change that. (For more, see special Electric package below.) BATTERY CONSORTIUM FORMED: The lead-acid battery industry is trying to improve its products enough so heavy lead can keep a place in the lightweight electric vehicles of the future. Four battery makers and seven lead refiners have formed the Lead-Acid Battery Consortium to find ways to improve existing lead-acid battery technology. Electric vehicles need batteries with more energy for increased driving range. APPLIANCES TO BE RATED: Ten utilities serving more than 85% of Vermont's electric power customers have formed a program to rate the energy efficiency of home appliances. At least 80 stores will take part in the program. Three companies will give their customers $30 rebates if they buy new energy-efficient appliances by December. HANSON PLANS TO SCALE DOWN: British-U.S. conglomerate Hanson PLC plans to sell majority stakes in several U.S. businesses in a move that should generate more than $1 billion, London's Financial Times reports. Hanson is considering the sales so it can concentrate on its core businesses, which include Peabody Coal. The companies for sale are in the consumer products, recreation, leisure and housebuilding fields. PHYSICIST TO TALK ABOUT SITE: A proposed nuclear waste storage site in Fremont County, Wyo., is the subject of a talk by nuclear physicist Marvin Resnikoff in Laramie on Wednesday. His talk, at the University of Wyoming business college auditorium, is backed by local environmental groups aiming to give an alternative view to information from the county. LET THERE BE LIGHT: The newly developed E-lamp is the most efficient when it comes to cost. For 10,000 hours, it will cost about $16.50 to burn the E-lamp, according to the Electric Power Research Institute and Edison Electric. It'll cost about $90 to burn traditional long-life light bulbs for 10,000 hours. It would cost about $66 in standard light bulbs and about $18 in compact fluorescent lighting. SPECIAL PACKAGE ON ELECTRIC: CONTRACT AWARD IS USABC'S FIRST: The United States Advanced Battery Consortium is awarding $18.5 million to the Ovonic Battery Company, a subsidiary of Energy Conversion Devices Inc. of Troy, Mich. The "mid-term" contract is to develop and demonstrate the ability of the company's nickel metal hydride battery for electric vehicles. It is the first contract awarded by the consortium. BATTERY LASTS LIFE OF VEHICLE: Extended range claims for the Ovonic battery are based on the fact that lead-acid batteries offer 30- to 40-watt hours per kilogram. The Ovonic battery is said to be capable of 60- to 70-watt hours per kilogram. Lead-acid batteries are said to be capable of only about 20,000 miles of useful life. The Ovonic company claims its battery will last the life of the vehicle. BATTERY STILL NEEDS WORK: Ovonic has been producing the nickel metal hydride batteries since 1987 for computers, cellular telephones and medical equipment. Consortium members said the battery was still in need of development. The battery has yet to be installed in a vehicle. It must be scaled up for vehicle applications. They said that high-production manufacturing methods and costs must be investigated. (End of package.) Energy Editor: William Snoddy. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM