Click above for high-res gallery of the European Grand Prix

There are many grands prix in Europe, but there is only one European Grand Pix. Although the title was originally awarded as a badge of prestige to one race on the continent each year, over the last quarter century the name has allowed a second round in the Formula One World Championship to be held in a country that already hosts a race under its own name. With the 2008 Spanish Grand Prix already behind us, this year's European Grand Prix was held at the new street course in Valencia, Spain.

When the Formula One teams met last week at the Ferrari factory in Maranello, they had yet to announce who would take over the helm of their newly-formed Formula One Teams Association. The group was formed to effectively negotiate on behalf of all the teams on a new commercial deal with Bernie Ecclestone's Formula One Management and on new regulations with the FIA. Reports now indicate that Luca di Montezemolo will act as the group's leader and spokesman.

Click above for a high-res gallery from the 2008 Hungarian Grand Prix.

If you had bets placed with your bookie ahead of this year's Hungarian Grand Prix, chances are overwhelming that you lost your money. That's how shocking the final podium was at the culmination of the 11th round of the 2008 FIA Formula One World Championship. You might have been just as surprised if you had been watching the race up until the final laps when everything went topsy-turvy. If you've got the race TiVo'd, we'd advise you to go no further. But if you're keen to see how the grand prix turned out and where the results leave the race for this year's championship, read on.

The formula racing world is rife with the offspring of long-retired F1 drivers making a name for themselves: Rosberg and Piquet are already in F1, Jacques Villeneuve has already come and gone, and the Mansell brothers are working their way up, to name just a few. But since both the Schumacher brothers have retired, Formula One has been lacking that sibling rivalry. (Mind you, with Michael having won more championships than Ralf did races, it wasn't much of a competition).

In the highly competitive world of Formula One racing, the only thing teams can agree on is money -- they want more of it. To that end, they've set up the new Formula One Teams Association.

Following two incidents in two weeks, it looks like the ballyhooed KERS hybrid system might not make it onto Formula 1 cars for 2009 -- at least, not the first races. Teams have begun to talk about how much difficulty they're having in building a safe system. KERS not only needs to work when the car is racing around the track, it also needs to be engineered properly in the event of a 300-kph accident.

Next year Formula 1 will see the introduction of KERS -- the Kinetic Energy Recovery System. The system stores the energy from braking and makes it available to the driver in an on-demand burst. Due to the magnificent braking forces in braking an F1 car, the system must be called on to store a sizable amount of electricity.

Click above for high-res gallery from the 2008 German Grand Prix

A stormy 2008 British Grand Prix had left a three-way tie for the drivers' championship in Formula 1, with Hamilton. Raikkonen and Massa all in a deadlock at 48 points. That made the German Grand Prix this past weekend, the tenth race on the F1 calendar, that much more important. Raikkonen said it was a "must win" race for him, and Massa and Hamilton no doubt felt the same way. In qualifying Hamilton kept up the momentum from the previous race by capturing pole position, followed closely by Massa, Kovalainen, and Trulli. Follow the jump for a race report and results.

We'll call this a rumor for now, but there is some rumbling that the current roster of Formula 1 drivers is so fed up with the rise in FIA Superlicense fees that they may go on strike as early as the British GP at Silverstone next month. F1Fanatic is reminding us too that this wouldn't be the first such strike. Drivers refused to race way back in 1982 over similar issues.