Drivers will find this summer's gas prices are lower than last year's, the result of a spike in crude oil production. Government forecasters say a gallon of regular gasoline will cost about $3.50 this summer — a slide of more than 10 cents from last year.
Auto executives got a grilling on Capitol Hill yesterday. Not the usual suspects from Detroit's Big Three. Think much, much smaller. Executives from the hybrid carmaker Fisker testified about hundreds of millions of dollars in loans Fisker got from the government. Today, the company is on the verge of collapse.
NPR's Sonari Glinton reports.
SONARI GLINTON, BYLINE: Fisker, the car company, isn't dead yet. But Congress has already begun the autopsy.
The new boom in natural gas from shale has changed the energy economy of the United States. But there's another giant reservoir of natural gas that lies under the ocean floor that, theoretically, could dwarf the shale boom.
No one had tapped this gas from the seabed until this week, when Japanese engineers pulled some up through a well from under the Pacific. The gas at issue here is called methane hydrate. Methane is natural gas; hydrate means there's water in it. In this case, the molecules of gas are trapped inside a sort of cage of water molecules.