Page 4 - 2 64 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> it is up about 4%. you have a fear of inflation and geopolitical risk. libya different than other countries we have talked about. libya is an oil exporter, a major oil exporter and a member of opec. big oil companies, we are watching closely to see if they are halting production. the u.s. imported from here, 80,000 barrels a day, the largest proven oil reserves in africa. that will mean probably higher gas prices down the line. they have been moving in that direction. $3.17 gallon of gas hurts. >> there we are. $2.64 last year. people certainly, this is the one place, it is hard to get

About 80,000 barrels a day from libya. libya exports an awful lot of oil to europe as well. so this is something people are taking notice to. we've already had gasoline prices rise. this is just another reason why many analysts are saying, martin, that gasoline prices will continue to rise. gas here in this country is about $3.17 a gallon. a year ago it was $2.64. if you want good news it's still 22% below where it was in the bad old days of the summer of 2008 when it was $4.11. but when you have a major oil producing country like libya with the largest proven reserves in africa, when you have...

Why don't we have both? [ male announcer ] old el paso. hard and soft tacos. ♪ feed your fiesta. in today's big breakdown, bigs news breaking a lot of wallets. i'm talking about gas prices. they are surging and it does not look like this is going to end anytime soon. the price for a gallon of gasoline has risen five cents in the past two weeks according to triple a. the price for regular is $3.17 a gallon nationwide. that's up 53 cents from more than a year ago when gas as around $2.64 a gallon. why the sudden surge? look at the headlines. that's libya we're talking about, the unrest in th...

Economically, as well. >> it will. what we're talking about here are higher oil prices, and they will mean higher gas prices. you've got crude oil up another $1 in european trading and that is because what we're seeing in libya. i wanted to show you quickly why libya's so important on the energy front. it's the largest proven oil reserve in africa with 44 billion barrels of crude. the u.s. imports 80,000 barrels a day according to the energy information association. and libya is a member of opec, the oil-producing cartel in the middle east. so this is -- you know, this is -- this matters to en...

Miles per hour, it would take them more than six minutes to cover it. it would take a car going 70 miles an hour a minute and 19 seconds to go that far. it would take a 737 going at 511 miles per hour, 11 seconds. and it only took 2.64 seconds for mr. harrison's bullet doing over 2,000 miles per hour. now, shep, explain to me as well. in the calculation, you take into consideration that the earth is spinning on top of everything else. right? because it is such a distance. >> yes, sir. it's called a corealisis effect. it's taken into account, yes, sir. >> this is amazing. how many people do you...