I just installed a fresh Ubuntu 12.04 (Precise Pangolin).
I noticed that, there is no screensaver settings, which is fine. I like to control the period of time after which the blank screen is shown,which automatically locks the screen.
I do not want to enable screensaver. I only wish to be able to change the idle time period required to lock the screen automatically. It seems to me, it is by default around 10-15 minutes.