Most of the Circuit of the Americas outside of Austin is just a cleared dirt track, but that didn't stop David Coulthard from ripping it up in the Red Bull demonstration car while being chased by cowboys. An epic video is clearly in the making with the Capitol donuts from this weekend.

Despite pretending the "Texas experiment" of cutting millions in government spending to make up for billions in revenue shortfalls was working, the state is actually billions of dollars in debt. In the face of teacher layoffs, some are looking at cutting the $25 million promised to the US Grand Prix.

Against the dire predictions of some, the future home of the U.S. Grand Prix — aka the bong-shaped Circuit of Americas — may actually be finished in time to run a mid-2012 race.

The mysterious circumstances bringing the U.S. Grand Prix to Austin, Texas and the location of the track were both revealed today. Big-bucks former Vikings/Saints owner Red McCombs will provide the funding, and the track will be out in the sticks.

The FIA fined the bankrupt USF1 team their $380,000 entry fee and banned them from Formula 1 forever for being no-shows this season. Banning a long-dead team? That's the kind of quick, effective action we expect from the FIA!

A mere 24 hours after Jersey City revealed plans to host a Formula 1 race, the city's mayor has killed those plans, citing environmental issues. You may now go back to ignoring Jersey City. [GPUpdate]

In response to overtures made by Bernie Ecclestone's Formula One Management, Ltd., Jersey City, New Jersey has announced a track layout for the proposed return of the United States Grand Prix. (What? You were expecting Newark?)

Two of USF1's trailers are for sale on eBay after the fledgling team went bust in February. One of the trailers can hold up to three F1 cars and there's no reserve!