Tagged: Energy

The GOP candidates for president have seized on high gas prices as a line of attack against President Obama, largely saying the answer is more domestic oil drilling.

But GOP front-runner Mitt Romney used to have a position seemingly at odds — at least in emphasis — with what he and the other Republicans are now advocating.

As Massachusetts governor, Romney said high gasoline prices "are probably here to stay," and he advocated policies to cut energy demand.

Now, Romney says President Obama's environmental policies are to blame for $4-per-gallon gasoline, and he is pushing for aggressive new oil and gas exploration.

A house bill that would consider giving the Public Utilities Commission authority to force PSNH to sell its power plants to open up market competition is getting vocal opposition from business leaders and mayors in the state.

Berlin Mayor Paul Grenier says the move will raise electric rates and scare businesses away from his community.

"PSNH has a good system now that serves our residents well.  Why would the legislature want to endanger jobs and tax revenue and risk higher rates over this legislation? " asked Grenier.

The price of gasoline keeps rising for Americans, but it's not because of rising demand from consumers.

Since the first Arab oil embargo of the 1970s, the U.S. has struggled to quench a growing appetite for oil and gasoline. Now, that trend is changing.

"When you look at the U.S. oil market, you see that there's actually no growth," says Daniel Yergin, chairman of IHS Cambridge Energy Research Associates.

He says gasoline demand peaked in 2007 and has fallen each year since, even though the economy has begun to recover.

"The U.S. has already reached what we can call 'peak demand.' Because of increased efficiency, because of biofuels, we're not going to see growth in our oil consumption," Yergin says.

Shell Oil plans to explore for petroleum off Alaska's north coast this summer. The native people of Alaska have a big stake in both oil revenue and environmental protection. That conflict has played out in recent trips by Inupiats to Washington, D.C., to argue their case.

One of those appearances was in the last place on Earth you might expect to find a pro-whaling news conference: a Greenpeace meeting room. But that actually transpired, thanks to alliances formed to fight Arctic oil drilling. Environmental activists know one of their strongest arguments is to speak out and even go to court to protect a traditional culture. That includes whale hunts.

A visit to a training for a growing movement, Transition Towns.

Today we look at the rising fuel prices, why it's happening and what, if anything that can be done about it.