The U.S. retail gas prices are climbing across the country — now at $3.918 a gallon on average, a $0.051 increase from a week ago, according to the U.S. Energy Information Administration.
The Obama Administration is tackling the issue of the rising gas prices and investing in a clean energy economy, and at the same time Barack Obama’s energy policy is under fire by Republican presidential candidates.
Mitt Romney recently said that Obama “has done everything in his power to make it harder for us to get oil and natural gas in this country, driving up the price of those commodities in the case of gasoline.”
Gas prices continue to rise and are unpredictable with growing global oil consumption and economic instability.
According to EIA, the biggest factor of gas prices is the cost of crude oil. Distribution and marketing, taxes and refining contribute to the rest of the cost.
Andre Boehman, Penn State U. Professor of Fuel Science and Materials Science and Engineering, said many factors contributed to the oil prices, such as the supply and demand of the market, situation of the Organization of Petroleum Exporting Countries, speculation of financial crisis and the tension between Iran and the West.
“There is a lot of issues going on internationally, and a great uncertainty of oil prices,” Boehman said. “The oil market is an artificial market affected by geopolitics.”
Boehman said the gas price increase will encourage people to make wiser choices, buy more energy-efficient vehicles and be more careful about petroleum consumption as “we are currently taking it for granted.”
According to the Obama Energy Agenda report, after the president took office, domestic crude oil production is rising, and U.S. dependence on foreign oil is down to less than 50 percent of domestic consumption in 2011.
The United States has nearly doubled renewable energy generation from wind, solar and geothermal sources since 2008, according to the report.
Locally, Centre Area Transportation Authority buses started a transition to 100 percent natural gas in 1996, Boehman said.
“For individuals, it will still take a while for us to use natural gas cars because of the difficulty of refueling,” Boehman said. “A home-refueling system cost around $5,000.”
The Energy Institute — the Diesel Combustion and Emissions Laboratory within the College of Earth and Mineral Sciences, is working on developing renewable fuel vehicles and advanced clean energy.
In February 2011, Obama delivered a speech at Rec Hall touting the importance of Penn State’s research efforts in moving the nation toward a clean energy future with its technology and building initiatives.
Boehman said the research is ongoing, for example, to improve energy-efficient buildings like the HUB-Robeson Center.