CNN Student News

Aired August 26, 2003

This is a rush transcript. This copy may not be in its final form and may be dated.

CHRISTINA PARK, CNN ANCHOR: It takes more than a week's allowance to top off your gas tank these days. Fill up on the reasons why. The Red Planet dances across the night sky for a once-in-a-lifetime close-up. And there's no call-waiting at a phone-throwing competition in Finland. Hello and welcome to CNN Student News on this Tuesday, August 26! I'm Christina Park at the CNN Center.

First up. The SUV or Mini Cooper isn't drinking any more gasoline than usual, so why is there such a drain on the old pocketbook? There are a number of reasons why gas prices officially broke record-highs on Monday. And if you're guessing it had something to do with last week's blackout, you're on the right track. Seven refineries had to be shut down when the lights went out. Bill Tucker fills us in on the other reasons, it's been such a financial downer to fill up.

First Up: Paying at the Pump

(BEGIN VIDEO CLIP)

BILL TUCKER, CNN REPORTER: A perfect storm has been brewing in the gasoline markets... gas prices are on the rise.... a rupture in a supply pipeline to Arizona... resulted in long lines at gas stations. And drivers in Phoenix paid $2.09 for a gallon on unleaded. In Scottsdale a gallon set drivers back $2.13, the highest prices recorded by AAA ever in the state, but Arizona is not where you will find the highest prices...broken down by region -that distinction belongs to California, where a gallon of gasoline costs over two dollars...up more than 50-cents from a year ago. But, not everyone is shocked by the prices.

KAREN MATUSIC, ENERGY INTELLIGENCE: When you look at European prices that are about $5 a gallon for a country like Norway, that produces oil, as a net exporter of oil. Don't forget the price in 1981 is the equivalent to, in today's dollars, of $2.50 a gallon. So, people can't cry too much.

TUCKER: Maybe they shouldn't but they do, and they are also driving more. Demand has risen in the last three weeks and isn't Expected to ease just yet.

ROBERT SINCLAIR, AAA: This coming weekend overall they think about 36 million will be traveling and about 34 million of those will be traveling by motor vehicle and that's the highest its been since 1995.

TUCKER: Complicating the equation is reformulated blends which reduce refinery capacity...but...relief maybe coming...after labor day.

FREDRICK LEUFFER, BEAR STEARNS: I don't think we will have to get use to this price. I think we'll probably in the short term see a little more strength and then it will correct...fairly significantly ...and I wouldn't look for this sort of pricing to normalized.

(END VIDEO CLIP)

Do the Math

It's time to Do the Math! Just what do those high gas prices mean to you? Well, check this out: The national average price for a gallon of gas is about a buck-75. If you've got a 15-gallon gas tank, you're dropping 26 dollars and 25 cents every time you fill it up. Now suppose you've got a job that pays five-fifteen an hour - If you worked 15 hours a week, more than one-third of your total pay -- before taxes are taken out -- would drain out of your wallet and into your gas tank. Add that to your knowledge!

Around the World

CHRISTINA PARK, CNN ANCHOR: From India to Rwanda to Mexico, there's no shortage of news stories making international headlines. For a trip around the world to explore everything from elections in Africa, to a certain storm named Ignacio, here's CNN Student News' Deanna Morawski.

(BEGIN VIDEO CLIP)

DEANNA MORAWSKI, CNN REPORTER: A series of two explosions rocked India's financial capital of Mumbai on Monday. The blasts killed at least 44 people, and injured more than a hundred. No one has claimed responsibility. The Indian government says the bombings are similar to previous attacks by two terrorist groups--One allegedly tied to al Qaeda, which had been shut down by Indian authorities after the September 11th attacks...and one of Kashmiri separatists. Since 1989, Islamic militants have been fighting to separate the mostly-Muslim province of Kashmir from India.

Ballot counting has begun for Rwanda's first democratic election since years of brutal genocide ended in 1994. Incumbent president Paul Kagame is widely expected to win. Kagame is a Tutsi, which is a minority ethnic group. He came to power 9 years ago after leading a revolt against extremists from the Hutu majority. The overthrow ended the slaughter of more than half a million people-- mostly Tutsis. Despite some reports of intimidation, international observers say Monday's election went smoothly, though some concerns remain about overall fairness. The final results are expected Wednesday.

Hurricane Ignacio lost power Monday as it headed toward the eastern coast of Mexico's Baja California. Over the weekend, Ignacio was predicted to become a category three storm with winds topping 111 miles per hour. Instead, it was demoted to category one after stalling off the peninsula's east coast. With winds of roughly 80 miles per hour Monday, Ignacio began dumping heavy rain on the region. The predicted 20 inches is expected to cause mudslides and flash floods.

For CNN Student News, I'm Deanna Morawski.

(END VIDEO CLIP)

NASA Shuttle Report

CHRISTINA PARK, CNN ANCHOR: A report due out today on the break-up of space shuttle Columbia is likely to point a finger at NASA. The space shuttle disintegrated when it re-entered the earth's atmosphere on February first. Since then, the Columbia accident investigation board has been working to find out what exactly went wrong -- and who's responsible. Investigators believe that a piece of foam that struck Columbia's wing on take-off, tore a hole through it -- like you see in this test. The damage apparently weakened the craft too much, for it to safely return.

Shoutout!

Time for the Shoutout! Let's see how much you know about the red planet! How many moons does Mars have? If you think you know it, shout it out! Is it: A) None, B) Two, C) Three or D) Seven? You've got three seconds--GO! Phobos and Deimos are the names of Mars' two moons. Phobos is the larger of the two, and it could actually collide with the red planet in about 50 million years. That's your answer and that's your Shoutout!

Mars: Up Close and Personal

CHRISTINA PARK, CNN ANCHOR: Close encounters of the red kind. Mars has been in the viewfinders of telescopes around the world this month, because of a once-in-a-lifetime opportunity. The planet that's about half the size of Earth is closer than you'll ever see it again. Miles O'Brien joined up with a crowd of astronomers near Atlanta, Georgia, with lenses trained on the sky.

(BEGIN VIDEO CLIP)

MILES O'BRIEN, CNN CORRESPONDENT: We caught up with the Atlanta Astronomy Club in their viewing patch 30 miles outside town. On this night, nearly 300 people flocked to see the fourth rock from the sun - as close as it gets to the third. That's us.

Let's put this close thing into perspective. Let's say you drive your car to Mars at 70 miles an hour...times 24 hours in a day, that'd be 1680 miles a day. Divide that into about 35 million miles, which if you could go as the crow flies, the distance to Mars, you come out with 20,833 days, divide by years, that's 57 years or so if you wanted to take the sports utility vehicle to Mars, and that's without rest stops, so that's not really that close.

The last time this happened - it was 60,000 years ago...which explains why it is hard to find the file footage in our library. Maybe Neanderthals of the time looked up at the bright red star and said...."ugh." There were no telescopes, computers or astronomy clubs, of course.

ATLANTA ASTRONOMER: As you're looking at Mars do you see something in the left hand corner... a little bright spot? That's the south polar ice cap. So you could be skiing on Mars on carbon dioxide when you grow up. What do you think? Ready to go?

YOUNG GIRL: Most people won't see this for thousands of years

O'BRIEN: Most indeed...unless cryogenics pans out. This truly is a once in a lifetime event - the next time Mars gets this close - it will be the year 2287.

OLDER MARS VIEWER: The unknown is what draws everybody here. To take a good look at what you don't know. You'll never have the opportunity again.

O'BRIEN: After Wednesday, Mars will start slipping away from us ...but worry not planetary procrastinators - the experts say it will still be very bright and big for at least six weeks. If you miss it - you might very well kick yourself and say "ugh." Miles O'Brien, CNN Villa Rica, Georgia.

(END VIDEO CLIP)

Web Promo

If you teachers procrastinate one night and miss taping our show, you can always find each day's episode at CNNstudentnews.com our re-vamped Web site makes it easy to navigate our top stories...And it's packed with transcripts and the in-depth discussion questions you've come to expect from our curriculum team. Log on and shout out what you think of the show, at CNNstudentnews.com!

Before We Go

CHRISTINA PARK, CNN ANCHOR: Some folks in Finland have a unique way of forwarding their phone calls. They're dialed in to the annual phone-throwing competition; where you get to toss your hang-ups about cell phones...well, as far as you can. There are no special ring tones here -- just the clack of plastic on concrete. The winner placed a long-distance call of about 218 feet. And the prize? A brand-new Nokia 2100.

Goodbye

CHRISTINA PARK, CNN ANCHOR: Well, we'll ring off here on CNN Student News. I'm Christina Park. Headline News has more stories dialed up, next.