from america s news headquarters, i m ainsley earhardt. the whistle-blowing web site, wikileaks, sparking new concerns about the future price of oil. wikileaks is posting confidential cables said to be from the embass nesaudi arabia, the chief exporter of crude, warning washington that the saudi s oil reserves might be overstated by as much as 300 billion barrels. oil prices are already above $100 a barrel because in part because of tensions in the middle-east. the transportation department finding that toyota vehicles are safe to drive. a 10-month investigation looking into sudden acceleration finding no electric problems. sticking gas pedals and other safety issues could be responsible. toyota recalling 11 million vehicles to make necessary repairs. we welcome to you tune in to the fox news business network.
government investigation rules out that faulty electronics as the cause of the acceleration problems that reached the crisis point in 2009. our cnn s samantha hayes has the story. reporter: after a ten-month investigation, the federal government says it knows what did not cause unintended acceleration of some toyota vehicles. at a news conference tuesday, nasa s scientists who performed extensive tests, vouched for the findings. nasa analysis and testing did not find evidence that malfunctions in the electronic throttle controls caused malfunctions as suggested in consumer reports. the problem, says ray lahood first, some toyota floormats entrapped drivers gas pedals while the vehicle was in motion.
that report found some cases could have been caused by sticky gas pedals or bunched up floor mats. those problems have already been handled through recalls. the top u.s. transportation official declared toyotas are safe to drive. the jury is back. the verdict is in. there is no electronic-based cause for unintended high-speed acceleration in toyotas. period. there were no failures found in the software that would unilaterally cause unintended acceleration. the japanese automaker welcomed the findings as confirmation of the reliability of its cars. toyota shares jumped to a nine-month high in early tokyo trading. a high school trip to a career day at the university of mississippi ended in tragedy. a semi-truck sideswiped a bus and then collided head-on with a second school bus. the truck driver and two school employees were killed. more than a dozen students were injured. high energy prices, high
came in third followed by the about to teleport and be investable. no jeddi hand trick. the dow opens at 12,233 after gaining 71 points. the s&p inched up 5 points and the nasdaq gained 13. in tokyo the nikkei shed 18 points while in hong kong the hang seng tumbled 320. well, toyota officials are breathing a sigh of relief after a 10-month federal investigation concluded that faulty electronics did not cause toyota vehicles to accelerate out of control. the federal probe confirmed toyota s own findings for which it s already recalled 8 million toyota and lexus cars, fixing sticky gas pedals or improperly fitted floor mats blaming toyota for sudden acceleration. its longest winning streak
their accelerators were sticking and their gas pedals got trapped under their floor mats. but a federal investigation now shows toyota s vehicles did not have any underlying electronic flaws, despite all you ve heard. only mechanical issues which led to a number of crashes. prompting the japanese automaker to recall more than 12 million vehicles since the fall of 2009. it put a huge dent in toyota s profits. just today, the company reported a 39% drop in quarterly earnings. but extensive research by nasa engineers finds there is no electronic issue that would have caused the vehicles to accelerator out of control. it s a top story at the bottom of the hour. doug mckelway is on it live in washington. how did they come to this conclusion, doug. they through the best engineers at the problem for 10 months. bombarded toyota s with array of magnetic fields. poured over software code and subjected the electronic