President Chávez’s “21st century socialism” reached London yesterday when Venezuela signed an agreement to subsidise the fuel bill for the capital’s buses by up to $32m a year to fund cheap travel for the poor.
Ken Livingstone, London’s mayor, said the 20 per cent discount would fund half-price rates on buses or trams for 250,000 Londoners […]

On Wednesday the EU Commission will vote on whether to impose tough new CO2 emission limits for new motor vehicles. In a predictable response, European carmakers are warning that jobs will be lost and their brands will “suffer” if strict targets are imposed.

The CEO of General Motors, Rick Wagoner, is pushing for government tax credits and fuel subsidies to encourage the development and use of alternative fuel technologies.
With the price of oil at its lowest level in 19 months, Wagoner said that the US runs “the risk of reverting back to our traditional energy policy … that […]

“Green” cars may all be the rage at the Detroit motor show, but Chrysler’s chief economist Van Jolissaint has launched a fierce attack on “quasi-hysterical Europeans” and their “Chicken Little” attitudes to climate change.
Mr Jolissaint was speaking at a private breakfast where the chief economists of the “Big Three” US car firms presented their forecasts […]

Ford and General Motors, the two embattled giants of the US car industry, Ford and General Motors have both unveiled plans for electric cars to try to maintain their position in an increasingly competitive market.
GM, the world’s biggest car maker, unveiled the Chevrolet Volt yesterday at the glitzy Detroit Motor Show, where fuel efficiency and […]