GM says Volt would get 230 mpg

General Motors announced today that the Chevrolet Volt extended range electric car due out late 2010, would get an official EPA rating of more than 230 Miles Per Gallon in city driving, becoming the first vehicle to obtain a triple digit mpg rating. The car is expected to cost about $40,000.

Giants Duke Energy, Huaneng to develop CCS tech

Duke Energy Corp., the third largest utility in the United States said it signed a memorandum of understanding with Chinese Huaneng Group, China's biggest power producer by capacity, to develop carbon capture and sequestration technologies.

Oil consumption forecasted to fall further

Oil consumption is expected to fall by 1.71 million barrels per day in 2009, higher than a previous forecast of 1.56 million bpd decline, the U.S. Energy Information Administration said on Tuesday. The news contributed to a decline in crude oil prices which settled lower today at $69.45 per barrel.