07 Feb '13, 12am

Study: UCS: Buying an efficient car takes a bite out of Big Oil

Study: UCS: Buying an efficient car takes a bite out of Big Oil

Filling up Does Little to Benefit Drivers' Local Economy, Personal Stock Portfolios WASHINGTON (Feb. 4, 2013) -Most Americans are likely to spend almost as much on gasoline over the life of their vehicle as its original cost but could save thousands with a fuel-efficient vehicle, according to a new report by the Union of Concerned Scientists (UCS), which also found most drivers see their oil company stock grow less than a penny a year from their own fill-ups. Rising gas prices and drivers' trips to the pump are translating into big profits for the oil industry. Just last week, ExxonMobil and Chevron posted near-record profits in 2012 of $44.9 billion and $26.2 billion, respectively. These profits, however, come at a big cost to consumers. Americans pay thousands of dollars every year to fill up their vehicles, and this expense is taking an increasing chunk out of their wal...

Full article: http://green.autoblog.com/2013/02/06/ucs-buying-an-effici...

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