Business & Technology

New pedal from Nissan pushes back against excessive acceleration

Want to be an eco-driver but can’t seem to keep the pedal off the metal? Meet Nissan Motor Co.’s ECO pedal, which pushes back against excess foot pressure to encourage fuel-efficient driving. The ECO accelerator will be installed in some Nissan cars starting next year and be accompanied by a real-time dashboard display of fuel consumption. Nissan says the gadget could increase fuel efficiency 5 to 10 percent, and the device can easily be switched off by those who don’t like Big Brother watching their lead foot. But the initial response from car enthusiasts is skepticism. “This may be one …

High fuel prices causing globalization to lose momentum

It was unthinkable mere years ago, but globalization is starting to lose momentum. High and holding fuel prices — shipping a 40-foot container from Shanghai to the U.S. will cost ya $5,000 more today than a decade ago — are making global supply chains look far less attractive. Goods headed for the maw of the world’s largest consumer are now increasingly being made in-house: Swedish manufacturer IKEA just opened its first U.S. factory; Tesla Motors is assembling its luxury roadsters in California; China’s steel exports are falling rapidly, while American steel production is rising. Local-economy boosters are delighted, but many …

Notable quotable

"The military-industrial complex needs enemies." -- Brian Williams, news anchor of NBC, on The Daily Show with John Stewart, July 31, 2008.

China’s renewables sector booming, study says

China’s renewable-energy sector is growing substantially despite the simultaneous growth of its famous dirty-energy sector, according to a study by nonprofit The Climate Group. While China recently took the lead as the world’s largest carbon emitter and continues building roughly one coal-fired power plant a week on average, the country’s renewables industry is also setting records. In 2007, China’s $12 billion investment in renewables was second only to Germany’s; by 2009, China’s renewables-investment is expected to be the world’s largest. According to the report, China already has the world’s largest installed capacity for renewables generation, due in large part to …

A profit without honor

ExxonMobil rakes in record cash, spends only 1 percent on alternative energy

ExxonMobil broke its own record for the highest quarterly earnings in U.S. history, reporting $11.7 billion in profits for the second quarter. And as ABC reports, the company spent only 1 percent of its profits last year on alternative energy sources. “They’re probably spending more on the advertising than they’re actually spending on the actual [alternative-energy] research,” says Bernard Picchi, an economist with Wall Street Access. (h/t: Think Progress)

Oil companies’ continued record profits tick off Democrats, consumers

Major oil companies reported ginormous second-quarter profits this week, irking consumers and fueling harsh rhetoric from congressional Democrats. ExxonMobil reported a record-breaking profit of $11.68 billion — the highest of any U.S. company ever — besting its own previous record set in the first quarter of this year. Royal Dutch Shell raked in $11.56 billion, BP hit $9.5 billion, and ConocoPhillips posted $5.44 billion in profits; Chevron will release its earnings on Friday. Consumers are enraged that oil companies are making crazy-high profits while they pay record-high gasoline prices, and Democrats in Congress are trying to stoke that anger, pointing …

The jobs, my friend, are blowin' in the wind

Wind power industry hiring in huge numbers

Dear Kevin, I’ve heard lots of hype about wind power jobs, but I don’t know what kind of jobs we’re talking about. Can you describe a few? Thanks for your help. (I love Grist.) Amy K.St. Louis Dear Amy, Grist loves you back. Your letter goes straight to the top. The hype is very real. Reliable correspondents from the American Wind Energy Association’s massive June conference in Texas report that everyone was talking about a shortage of trained and experienced people. I believe that “we need people yesterday” was the exact phrase. So while “the answer” may not be blowing …

Advocates pushing LEDs into the spotlight

Compact fluorescents have had their time in the sun; it’s time to herald the era of LEDs, say advocates. Light-emitting diodes are bright, extremely long-lasting, über-efficient, and can color-shift by remote control (fun!). The bulbs shine in many traffic lights, colored the Times Square ball on New Year’s Eve, may soon light up the Empire State Building, and are becoming the bulb of choice for commercial lighting. Many bulb manufacturers expect that they’ll soon widely light up households as well; so sure is Philips Lighting, in fact, that it is spending no R&D money on CFLs, focusing solely on LEDs. …

Surprise first-quarter profit for Honda, unsurprising giant loss for Ford

Despite an economy that has hit automakers hard, Honda Motor Co. on Friday reported an unexpected record profit for its fiscal first quarter, crediting demand for fuel-efficient Civics and Fits for the surprise boost. Honda was the only automaker to report better U.S. sales in June 2008 than in June 2007, though small-car specialists Kia and Fiat SpA also reported first-quarter profits. In contrast, Ford Motor Co., which only recently decided to shift away from reliance on trucks and SUVs, reported an $8.7 billion quarterly loss, the worst in its 105-year history. Toyota, Nissan, and General Motors will all announce …