gas. was a moment where romney mentioned to obama, look, when you came in, oil was down here. now people are paying $4. and of course we know even more in california. are you telling me that what is underneath here can actually make natural gas bring down the price of fuel? >> sure, it can. and it's going to happen a couple different ways. we're going to transition away from burning diesel and gasoline to natural gas. and we're going to be more efficient in our existing engines that consume gasoline, diesel. so right now our oil consumption in the country is already the lowest it's been in five years. and my view is that it can continue to decrease. >> we're in the middle of nowhere, and i know in the middle of nowhere there were not a lot of jobs not long ago. but when you take an area that's had tremendous unemployment and you come here, and you did discover utica, this is the house that you built, what is the economic impact on everybody from the land owners to the people who run hotels

for gas thieves. all thanks to government regulation. how much worse can it get? >> while iran is still trying to control its currency crisis its offshore oil platforms are reportedly under cyberattack. is the regime running out of time? >>> are electric cars actually bad for the environment? specifically, twice as bad as traditional cars? a shocking new study says they may not be so green after all. even when they say it's not, it is always about money melissa: let's take a look at the day's market headlines. investors staying cautious before tomorrow's earnings season kickoff with alcoa. summit between eu finance ministers brought modest declines to stocks. stocks closed down 26 points. shares of apple fell more than 2%. there are report that is a weekend strike broke out at a foxconn factory in china, a major a sembler in china. foxconn is denying the report. they have had major problems. >>> netflix shares surged more than 10% on the news closing at highest price since july. >>> our top story toni

gas.build this terminal to import liquid natural gas. >> yes. >> a funny thing happens in the next few years. >> well, it wasn't so funny. >> it wasn't funny for the cheniere ceo because his company almost went bankrupt. what happened? the low levels of natural gas production in america suddenly gave way to a boom, thanks to shale gas. how big is the shale gas revolution in america? >> it's stupefyingly large. >> in 2000, shale gas accounted for only 2% of all natural gas. in 2012, it accounts for 32%. that's because america happens to be the saudi arabia of shale gas with big shale deposits over much of the country. and here's the kicker. when you burn natural gas to produce energy, it emits roughly half as much greenhouse gas as coal. >> natural gas is the perfect complement to wind and solar. not only does it emit half as much co2 as coal, but you can just turn it on and off when the sun goes down or the wind stops blowing to make tremendous inroads in reducing our carbon emissions. >>

get the natural gas out. to test it you want to turn it an eighth of a turn and turn it back to the way it it was. notice the little thing? that's going straight with the flow of the pipe that means it's open. if it's across that means you turned off the gas. the eighth of a turn you didn't turn it off you just moved it. these are in better shape. if you can get to this valve, safely, the building's collapsed on it you can't get to it you have to use the one in the street. pg and e put all the meters outside the houses in a lot of the neighborhoods, these are pretty easy to get to. they are easy to find. if you can find the little round circle in the sidewalk. if you look directly at the house you will find this meter and this shut off on the ground floor. in is a closeup of the shut off. in is the wrench i recommend you you use it for other things. they are cheap and they will work. this is great because you can use it somewhere else if you have to. an adjustable open end wrench. a diagram are off/on. shut o

gas.export natural gas. >> a funny thing happens. >> in the next few years. >> it wasn't so funny. >> it wasn't funny for the ceo of shanier energy. the low levels of natural gas production in america suddenly gave way to a boom, that's because of shale gas. shale gas is -- hydraulic fracturing or fracing. >> here's the kicker, when you burn natural gas to produce energy, it emitts roughly half as much greenhouse gas as coal. >> natural gas is the perfect complement to wind and solar. not only does it emitt half as much co 2rks as coal, but you can turn it on and off when the sun goes down or the wind stops blowing. but we can make tremendous inroads to reducing our carbon emissions. >> in 2011, greenhouse gas emissions in the u.s. were 9% lower than 2007 levels. one reason was that demand for transportation fuel was down, but another major force according to the government was our switch from coal to natural gas. in 2000, natural gas accounted for only 22% of the electricity we get from f

gas as coal. >> natural gas is the perfect complement to wind and solar.oes it emit half as much co 2 as coal, you can turn it on or off when the sun goes down or the wind starts blowing. >> in fact, we already have reduced emissions. in 2011 greenhouse gas emissions in the u.s. were 9% lower than 2007 levels. one reason was the demand for transportation fuel was down but another major cause according to the government was our switch from coal to natural gas. in 2000 natural gas accounted for only 22% of the electricity we get from fossil fuels, compared to 73% for coal. through july of 2012, it accounted for 46% and coal was down to 53%. that dramatic switch didn't happen because of our suddenly greener outlook on life. a main reason it happened is because natural gas now costs about the same as coal. >> fracking shows us if we get the price below, for instance, coal. >> will adopt it, you will get a dramatic shift, you will get reduction in co 2 emissions because it's a greener alternative and you'll get cheaper prices. >> but there are definitely some d

. >> gas leaks leveled buildings. >> it was the biggest explosion i had ever seen. >> gas stations erupt into infernos. and rescue workers put it all on the line. >> it was the closest call i've had. >> dire circumstances. >> i'm thinking there's no way somebody's going to live through that. >> disaster, heroism, survival. >> i can't believe i'm alive. >> you won't believe your eyes. >> boom! it went up. >>> "caught on camera: fireball." hello, i'm contessa brewer. welcome to "caught on camera." dangerous materials are used every day, usually without incident, because safeguards are in place to minimize risks. but natural disasters and man-made accidents happen all too frequently, and when highly flammable materials are involved, an emergency situation can become a fireball. may 15th, 2009. firefighters in la misa, texas are battling a blaze at a tank facility that stores oil, gas, and seawater. just when they think they have the fire under control, a flare erupts from the tank on the right. it's not a good sign. and in a matter of seconds, the tank launches into the air like a rocket. >

gas supply.ticking] coming up, maverick biologist j. craig venter on dna. >> dna is the software of life and the key to evolution of life on this planet, and now the key to the future of life on this planet is understanding how to write that software. >> designing life, when 60 minutes on cnbc continues. [ticking] everyone in the nicu, all the nurses wanted to watch him when he was there 118 days. everything that you thought was important to you changes in light of having a child that needs you every moment. i wouldn't trade him for the world. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. if you're caring for a child with special needs, our innovative special care program offers strategies that can help. [ticking] >> in 2010, microbiologist j. craig venter announced that his scientists had created a synthetic bacteria designed on a computer with man-made dna. the announcement was greeted with a mixture of praise, skepticism, a

gas for transportation fuel. happen. it has to happen. it's $2 a gallon cheaper than it is for diesel. natural gas is cheaper. but we got a heated discussion going on in energy in the second debate. they didn't come up to any conclusions. now we're going to switch over to our third debate, foreign relations. foreign relations mideast is built right on top of energy. that's exactly why we're there. >> boone -- >> we don't dhave to be -- >> you're talking about that second debate. you're happy they discussed energy. president obama certainly understands that natural gas needs to be in the mix. listen to what he had to say. >> we continue to make it a priority for us to go after natural gas. we've got potentially 600,000 jobs and 100 years worth of energy right beneath our feet with natural gas. >> but, boone, you say mitt romney demonstrated a deeper understanding of energy. tell me why. >> he's got a plan. you see it. you heard what obama said there. he talks about natural gas. sure. does he have a plan? never see

gas supply.ticking] coming up, maverick biologist j. craig venter on dna. >> dna is the software of life and the key to evolution of life on this planet, and now the key to the future of life on this planet is understanding how to write that software. >> designing life, when 60 minutes on cnbc continues. [ticking] it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serio

can control gas prices and make promises on gas prices and this is what he said. >> this just isn'tthe president of the united states controls no more than cans of soup or something. i can understand energy policy is really important, but the price of gas is just not something where the buck stops at the president's desk. >> christine, we're hear so much about just oil and gas drilling, if we just did more here in the united states, we could offset all sorts of problems, become more energy dependent. how much do we really have here compared to how much is out there and what opec would do to us? >> what these guys were arguing about last night is how to get more of what we've already got and they're arguing about drilling and drilling on federal lands. no question the united states is a huge energy resource. would just drilling lower gas prices? would drilling and higher efficiency standards lower gas prices? would a lot of things? it's a big global market, right? and sometimes when you push the lever here, there's another lever like opec moving someplace else. and that's what ken ro

with gas prices soaring this is a really good easy way for you to find the cheapest gas in the bay area. when you go on kron 4 .com go on the gas prices to blake. a bay area map will come up and you can scroll to find the cheapest gas. scrolled down a little more and you will see an area that says price trends. with prices cheche >> charles clifford is live this weekend. >> take a look at the overlook on the west and across the field. there has been fog horn this part of the city. but it has been clear today. take a look at this video that i shot a few hours ago. the other four will say information and go back some of the way. they will make large loupes and pass over that section over the bay. this is a part of their practice. there were people double parked trying to get seats. there was one gentleman here this stated that he saw the blue angels many of times. >> i always love the show and it is just spectacular. the jets they complement one another. the blue angels performed about 40 minutes and they finished up about 3:45 p.m. to 3:50 p.m.. i want to show you one more thing that aft

john and sandy hopkins saved so much money on their gas bill that the gas company thought their meter broken. >> we are on a budget with the gas company, so i have been watching our actual usage to see if we were saving money that way. in february, we had a $181 credit, and i was very happy because we've never had that in this house-- we have a... it's a very big house, and usually we don't come even or even have a credit until may-june. in march... march 13th, we received a letter stating, "we are trying to reach you regarding the consumption on your gas meter. it is inconsistent with normal usage at your address. please phone our office as soon as possible so that we can make arrangements to enter your home, in the event we need to change your meter." so we went from having a $181 credit to receiving this letter from the gas company... >> which i thought was pretty funny, 'cause, um... i guess they didn't want us to conserve. they tell us to, but they don't really want us to. ...all right, here's my brand shiny new gas meter from the columbia gas that they insisted i needed because

, one electric, one gas. the gas motor only kicks in when electric power is running low. compared to other popular hybrids and full gasoline cars its size, the volt is cheaper to drive over the long term even though at close to $40,000, it's more expensive to begin with. >> i can take the car up to san francisco and putter around the whole day and come back and barely use any gas and when i'm commuting to work, i don't use any gas at all. >> reporter: sales of the volt are now starting to pass other electric cars because the volt because it can also run on gas power means that drivers have less anxiety about running out of power. reporting live in san jose, len ramirez, cbs 5. >>> now, we have made it easy to compare the costs of your current vehicle to more fuel- efficient one. just go to our website, cbssf.com then click on news and then consumer. we also have a special page giving you the cheapest gas prices in your neighborhood. >>> new at 5:00 a rescue mission for two sea lions tangled in fishing line di

you can smell the gas. everywhere you go, you hear "shh", just all the open gas lines going. just scared to death. [ hissing ] >> reporter: do you hear that? that is the sound that everyone left in this town is faring the most. it is a hissing gas main. street after street. you can smell it in the air. and fire officials are concerned that these towns are basically ticking time bombs. everywhere we went along the jersey shore today, in town after town, the air was filled with this hissing menace. >> if the wind shifts, it's going to get into the crawl space, god forbid a spark. >> reporter: in the town of ortley beach, frank mazzo is worried and getting angry. have you called the gas company about this? >> five times. >> reporter: and their response? >> they'll get there as soon as they can. >> reporter: you can actually see the gas pouring out. it ruptured monday night. >> i don't know why there's not more trucks here right now. i mean, this is where we took the main shot. this is it, like, where are all the gas trucks? you got down the block, we got down the block, why can'

it's supply and demand and gas prices go up and down accordingly. we should reduce or depend dense on the middle east. >> it's not only the price. victoria is on the mark, it's about foreign oil. in north dakota, huge deposits of gas and oil they're finding, you see the way we're able to get oil from shale through production methods we didn't know existed 20 years ago, we could become energy sufficient. >> more from canada than any other country and they're not an enemy of hours. there is a huge difference between what president obama is doing and what governor romney proposes. president obama wants to dictate energy policy from the white house, which he's been a huge failure at doing. romney wants to put control back into the private marketplace and that's where it belongs. >> rick? >> it would be a more interesting to discussion to talk about the national breakfast cereal. >> we are not. >> i like that. >> as moderator, we're not going to talk about breakfast scroll. >> look, it is what it is and i don't know why we have to change the message. dis

if you want to try to save cash we will help, go to www.cbs5.com/gas and find the cheapest gas in your neighborhood. >>> thieves stole a thousand gallons worth of gas from a station in roseville. the manager says they struck three separate times, disabling the pump. surveillancesurveillance cameras caught them two more times. that is when a cashier recognized recognized the truck and took down the license plate. >>> the search continues for a killer. susie ko was found murdered after she failed to pick up her husband. the family is using social media to search for the killer. >> people can leave comments. >> the children turned to social media to help find their mother's killer. >> 140,000 and growing. [ talking at the same time ] >> and tweets of half a million people doing things like telling their friends. >> reporter: susie ko's husband who commutes to idaho asked a neighbor to check on her. >> she was lying in the front of the house. there was blood present and indication of injury. >> reporter: police believe she was killed between 7:00 and 10:00 who 10 stole her car. >> we love

i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ 2 baseball play-off games... ...and a record setting performace by the 49ers... i >> sports scene was full of sports. record setting performance by the 49ers. i can capitalize this in about a minute. natives were restless. giants had to do something. ryan ludwig had other plans. the reds are off. the reds roll 9 to nothing and they lead the series. that busy your game right there. the ea tied, bases loaded, there is your walk off. tigers win it 5-4. on to the 9ers and the bills. allen smith, 300 yards, 3 touchdown passing day. they pulled off over 600 yards of franchise record. they roll the bills today. you. we know you. we know you have to rise early... and work late, with not enough sleep in between. how you sometimes need to get over to that exit, like, right now. and how things aren't... just about you anymore. introducing the all-new, smart

go easy on the gas and brake pedals. they will use more gas. drive the speed limit going slower to concern fuel and lighten the load. a lighter view uses less gas. for the cheapest gas in your neighborhood, go to our website. live in emeryville, sharon chin, cbs5. >>> all right, you've got plans to come into san francisco this weekend? good luck. you will not be alone. a million extra people are expected to flood the city as well and their cars. this is a live look. lit up for the giants. it is peaceful right now, sure, but it will be a different story tomorrow with a bunch of events going on. you've heard about this. earlier today, the gridlock and as you have been expecting the same this weekend. some people are calling it the world series of transportation. the city has activated their emergency operation center, the best way to get in and out of the city, don't drive, take public transportation. >>> here's what's on tap just tomorrow. you've got fleet week, america's cup, the giants are playing. all along the water front. add to that the ha

he th -- range resources. >> not only is there natural gas in the oil well but there is natural gas that is coming from the production activities of range. the oil and gas regulator decide to do review the matter himself. >> there is no way in the world range had anything to do with the natural gas that might have been. >> indeed when he took his claim to state court the judge found that rich didn't screw that garden hose on to a water spigot but instead intentionally attached it to a methane gas vent, a common feature on many private water wells because methane gas is often found there. then they hit the record button and lit the escaping gas. >> oh my god. look at that. >> texas district court judge found that alyssa rich produced quote a deceptive video calculated to alarm the public into believing the fracking operations of a company called range resources were endangering human life. >> not only would she be back she passed that information on to reach 6th epa and they took it and ran with it as well. >> so range resources ultimately accused. >> they were falsely accused. this is an

i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ appeal award two years in a row. . >>> just getting around is getting more expensive. and the pain at the pump is not letting up. since we told you about the soaring gas prices here at 5:00 just yesterday, they have hit a new high in some places. ktvu is live in oakland with how businesses and people are coping with this sudden increase. >>> with the price of gas here in downtown oakland at $4.88 a gallon for regular, it's no wonder that small businesses that use a lot of gas such as these food trucks at the oakland art murmur are getting especially hammered. the cry heard around the bay area today, as the price of gas breached the $5 a gallon mark at some stations. food truck operators say they run on tight margins, so soaring gas prices eat into the bottom line. these trucks get poor gas mileage, then add in a gas-powered generator and the cost

solutions for the record breaking gas more headlines 30 minutes away. and now back to bulls and bears only on fox. >> here is a history breaking number that's breaking our pocket books. gas prices are on track to close at a record high for the year and consumers are getting squeezed. the white house saying tapping our emergency oil reserve is on the table. but some lawmakers urging the president to shelf that idea and tobin, you agree with him, why? >> yes, i turned into tobin, i like that. and first off, the problem is not the oil issue, the problem is refinery problems, not only disasters at refineries, the switchover that happens between september and october and it's not done yet. so our problem with gasoline prices, is gasoline refining, nothing to do with oil, number one. and we need that for when times get rough and listen, we have iran and israel still in a sort of of shouting match. it's not for gasoline prices. >> gary b. we've released the oil recertifies of only three times in history and each time oil prices come down a little bit. and then

natural gas liquids with the gas, propanes, butanes.apital where the better economics are. investors look for companies with significant inventories of liquid rich opportunities because they're making greater profitability on companies rather than just dry gas plays. david: wilbur ross is usually always ahead of the curve. he says china has huge natural gas deposits heretofore unknown about. he heard about it. they have come to ask him whether or not u.s. drillers, u.s. explorers could get into china to pull some of that out. they're not familiar with the latest fracking technology. is that anything you could get into? >> that wouldn't be something our company would necessarily do but with re are finding a lot of companies, not just chinese companies, particular any in asia, coming to the u.s. and investing in oil and gas markets. part of it is for strategic reasons to understand how to develop the shale rock and take that technology and use it other places internationally. china has significant shale reserves. there is lot less known a

stations but mainly also by the fact that we were very lucky to this to discover north sea natural gas and of course the replacement of coal fired capacity with gas turbines which have to actually know sulfur emission was a big step forward. that didn't solve our pollution problem in terms of c o two emissions really did clean up the atmosphere in terms of acid gases looks any little tick it looks a lot better and i think that in russia i believe you do have quite a lot of diesel for a zation capacity but i think there are still many power stations that have no sulfur removal systems so that's where you have to really start mr allonby you are the winner of the of the latest global energy price will how can you explain why did they choose you as the prize winner this year. and wonder it was a really amazing surprise to me and something i certainly hadn't expected causes you to look back on what you've done in the past i started to work in this area in the one nine hundred seventy s. when we were really looking to produce c o two from power stations to inject into oil fields to recover m

a lighter trunk uses less gas. and the best time of the day to fill your gas tank is in the morning because the fuel cools overnight and cooler gas is more dense, meaning you get more for your money. at least in theory. if you want to find the cheapest gas in our neighbor, go to our website. okay. >> i'll be waiting. thanks, sharon. >>> got plans to come to san francisco this weekend? you're not alone. a million extra people are expected to flood the city. this is a live look. it is peaceful right now and it will be a different story tomorrow with a bunch of events going on. cbs 5 reporter, alyssa harrington on some of the problem areas to avoid. >> fleet week air show. america's cup races, 49ers, and giants games. a few of the events happening in san francisco this jam packed weekend. >> we expect 1 million to come into the city to attend these events. there will be severe impacts to traffic. >> and almost nowhere is off limits. chp officer breaks down some of the problem areas describes might face. >> it will be

you can see $5.39 a gas. i say why would you go for that high when the average price is not near that. the latest in san francisco's $4.32 a gallon in san jose. $4.65 also. we are saying things go down by a penny. we will talk with mike pelton about gas prices at 6:30 a.m.. >> vice president joe biden and paul ryan are facing off tonight in the first and only vice-presidential debate. with just 25 days until election day they will take the stage in danville ky. a poll shows the latest fighting tightening up here. coming up later this morning at 815 are political expert will be joining us and studio to tell us what we can expect from tonight's debate. he can watch said on on interrupted at 0247 news channel comcast 193 or digital 4.2. the vp debate tonight and the presidential debate live and on interrupted. >> will be back in just a few minutes and oil shane was showing from the oral spill off the coast coast and mexico. the major allies are showing up early this morning but traffic is still moving but slowly

then they hit the word button and lit the escaping gas. >> oh my god. look at that. >> district court judge found that alyssa ridge produced a deceptive video calculate to do alarm the public to believe the fracking operations of a company called range resources were engangering human lives. >> not only did she do that, she then passed that information on to region 6 epa and they took it and ran with it as well. >> range resources falsely accused. >> they were falsely accused. this is an outlandish lie. it is unfortunate that the federal official you can get the trust would falsify activity and go after a texas business. >> is it possible he didn't actually know that the tests had been deceptive or falsified? >> he was a willing participant in the illusion. it wasn't as if somebody pooled the wool over his eyes. he had his own agenda adverse to natural gas. >> lass spring the epa quietly rescinded the order on range resources. a wyoming republican insists this goes beyond one regulator's agenda. >> that's the way the epa has been behaving over the last

we're talking gas, oil, nat gas, the election with boone. it is kind of whatever he wants to talk about anyway. he's coming up. a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. with the blackish-blue frame and the white dots and the splattered paint pattern, your lights are on. what? [ male announcer ] the endlessly customizable 2013 smart. >>> breaking news on some big numbers. just getting word that the deficit came in for last fiscal year for the federal government still above $1 trillion. in fact, it came in at $1.1 trillion. there was some hope that maybe we could inch that under a trillion. really just make the financial picture of america pristine. with just $999 billion. that didn't happen. we're still over $1 trillion. i think that's 12 zeros. >> it was $1.3 trillion for the 2011 fiscal year. >>> the stock is now down year to date down about 23% over the last six months. dramatically underperform being the nasdaq. >> it has to be frustrat

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if we are so rich in natural gas in this country, why aren't we a gas exporter? >> listen, maria, i think we should be a natural gas exporter. i think we will be a natural gas exporter. i think the problem is that for a long time, until about three years ago, natural gas was a commodity that was in shortage. it was always in tight supply. in fact, in '08, we had natural gas trade at $15 per mcf. it's now less than 25% of that. so because of hydraulic fracking, because of horizontal drilling, we've moved in the past five to ten years from natural gas being a scarce resource to it being an abundant resource. what we know today is that the united states has well over 100 years of supply that can be accessed by current technology and methodologies. >> really interesting. it can transform this economy. >> it can transform this economy. it will transform this economy. and it will also mean very significant job growth. my back of the envelope calculation is that for every additional billion cubic feet of natural gas reproduce, and right know we produce 65 billion cubic

gas, say, you can bring in gas anywhere. there's a slight penalty that you pay for the mrus it increases, but that's so insignificant, because once you get the few percent in, then you have a normal gas market, prices would fall. there's no evidence anybody is going to allow that to happen, but it has been approved once, if we do that, we could see prices go away very quickly. >> belva: maybe this is something the governor hasn't thought of. >> i think the governor's well aware of this. the question is, do you want to kind of suspend some of the environmental rules, which has been hard fought for and hard vote on in order to do this. politically, it would be very favorable to do that, but then he would have the environmental community saying, this is a crazy way to stabilize a market, way to stabilize a market is to get these things up and running and that shouldn't take all that long. but we could be seeing this gasoline problem stay with us for a matter of a few days to a few months, depending on how these various entities

in southern california, the gas shortage forced some costco gas stations to shut down.rices could continue to rise in the coming week. >> i have a big family. i have six cars. it affects a lot. i have three children who drive. >> even this little car, it's still $45 to fill up. that's crazy. >> reporter: if there are more problems with the state's refineries then we can expect gas prices to stay the same or perhaps go even higher in the coming weeks. monty francis, bay area news. >> thank you very much. gas prices way up, the temperature now starting to go the other direction. christina loren is here to show us the weekend. >> a good-looking weekend. we're getting our first showers of the season as we speak. want to start with the live picture of san francisco. look at all the boats out there. and you'll notice it's a little choppy. we have more winds to contend with today than this time yesterday. that's going to make for some good action out there on the bay for america's cup. i'll get to that forecast in a moment. as promised, let's show you those showers. there they