20130523-Stossel-[Gas Myths].Fox Business.CF.avi

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STOSSEL - [Gas Myths] - Fox Business Network
2013, May 23, Thursday

Xvid/MP3 AVI - encoded from medium quality ReplayTV stream

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[excerpted from John Stossel's blog:]

Much of what we think we know... is not so.

People assume the auto industry hates regulation, but Heartland Institute energy analyst James Taylor says big oil companies like the regulations because the onerous rules keep competitors out.

Obama says government's fuel efficiency requirements will save families $8,000 a year, but the regulatory director at George Washington University, Susan Dudley, says that these rules will actually cost us $60 billion.

Bob Dinneen of the Renewable Fuels Association and James Taylor debate whether ethanol is good for the environment, or consumers.

Frank Gaffney of the Center for Security Policy and Jerry Taylor from the Cato Institute debate whether "energy independence" matters.

And what exactly is in a barrel of oil? John Felmy, American Petroleum Institute's chief economist, points out that only about 50% of a barrel of oil is used to make gasoline. Our audience guesses which one of the items in the picture below is not made from oil:

Special Correspondent Kennedy is a "hypermiler". She shows us driving techniques to maximize fuel efficiency.

Finally, I explain why Bill O'Reilly and most people are wrong to complain about the price of gas. Gas is cheap. We should thank Big Oil.