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The Truth Behind Gas and Energy Prices

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  • Description

    FBN’s John Stossel previews his latest show on energy myths.

  • Duration 8:03
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This transcript is automatically generated

You know it's gonna be good as a -- on on.

-- to have trouble pronouncing the word -- but gas drive this.

What's of fast anchors your went -- some -- -- to gas stations and it didn't want.

Well we asked people about ghastly where did it come from where we gonna run out and people gave us the usual silly answers like yes -- for a one little girl we're gonna run out 2015.

-- Jimmy Carter forty years ago said we're gonna run out within a decade but.

People having brains keep finding new ways to get more oil out of the ground so we have.

More oil than ever before people think most of it comes from Saudi Arabia places like that in fact most of it comes from America.

And what we import most of that comes from -- dangerous countries.

Canada and Mexico.

Most of -- or comes from American -- 52%.

Oh how come.

To them delivered to your -- really wanted to who don't normally I don't.

The soccer maritime on the solders -- raises the oil prices.

And intense partisans have to -- go through the roof.

Because it's a world market it all ends up in the same bath -- and when there's a little short somewhere.

Prices gets get bid up.

But -- -- Oracle like their story -- the total but -- is think about what it takes to get the stuff to us.

Some does come from Saudi Arabia some from war zones they now drill.

Up to seven miles into the earth the drills band and goes sideways and may second out of the ground -- and pipelines that cost millions of dollars ship but for.

Miles put it and ships that cost a million plus dollars.

Bring it to refineries in America that the still -- the three types of gasoline but it trucks that cost a 100000 dollars.

Ship a tear gas station where they have to have all this equipment C -- lawyers selves up.

And it still cost less per ounce than the bottled water at those gas stations.

It's a -- what do oil companies to government -- that gas would be 200 bucks a gallon there be shortages.

I'm around of them -- the mountain division -- -- hideous.

-- some rumors get started.

The press is economically ignorant I don't know it's a good question.

-- your information is obviously current.

Obviously correct the heartland of America -- Our ultimate goal should be energy independent citizen but a strong.

I say that's raucous free trade is good it makes everybody richer and let's say we were.

Food independent then when you have a drought in the midwest.

We're gonna go hungry it's a good thing that we rely on lots of sources for all the important stuff -- -- Which argument -- John Solso Bruce -- book which aren't convinced.

Embryo awarded the Pulitzer Prize.

-- -- titled what -- all know they can't.

Wait government fails but individuals.

Succeed.

Now on we're discussing here earlier this want him and we like -- officer go to -- to -- program.

Honestly there's a back story to you that some man.

Every delivered privately and in product and -- log on in backlog.

But but nevertheless.

This fascinating information women and and every time I see your program.

A lineups economic I have -- and it turns almost -- own personal.

We try to tactical things that are counter intuitive that make people say -- hadn't thought of it that way -- American.

I am 29 years resolution -- thank you.

Or just earlier and -- got numbered alike around.

-- -- -- people do like him.

Capital IQ more and more -- -- just terrified me and I think he was a bully but now I see he has only with a purpose and are available.

-- -- on an ultimatum.

Now he's yelling at me about.

Drug legalization I say free people should be allowed to put whatever we want in our own body so we own our own bodies.

-- -- -- -- -- -- -- -- No I don't -- -- don't.

Mainly wants glad I countered -- less than the Clinton and Obama.

-- -- -- -- -- -- -- -- -- -- -- -- I don't mean and and and Clinton are resolved and remember a moron -- rotted out and wanna relax and okay.

And anyway.

I don't know about.

All have bled to death -- death proverbs are not discussing his shortcomings -- like their -- The oil companies make 6% profit on averaged.

Richest and mobile I think made 8%.

Most lot of software companies make 20% profit the average profit I think it's higher among big companies.

And the government takes a much larger percentage of your gasoline dollar then oil companies taken profit.

-- Are you drug digress senior like him to whatever they do do -- -- have -- Particle the Republican convention on our bureau of internal -- -- so.

But there Ron Paul's for a -- -- -- kind of -- monster house but.

I could just like Enron polar toward him and so.

-- -- he's sort of vanished lately but boy I wish it.

I think tomorrow people are gonna come around to Ron Paul and Gary Johnson who's running on the Libertarian Party ticket sales -- room.

-- -- but don't smoke and usually don't I don't know.

And a good one right he balances the budget they're -- democratic leaning state elected twice.

Got a great don't arouses our margin and so on sugar -- All recruiters -- com ministers -- all liberal reducing loan and Albuquerque.

And a drive a real solution and what a little Republican.

Wonder if they're gonna look rumpled speak at the convention.

I am pretty sure they are he got a lot of else.

So -- -- program tonight in our own.

-- football Miller looks the was to have room problem is electric cars and I'll -- -- those two.

Well the argument is they're better for the environment the National Research -- look to this announced that it oops turns out even after we gave mall these subsidies.

They are better.

Because to make the ethanol.

And the electric cars get their energy from mostly coal.

-- it's not better for the environment but we taxpayers who just feeding money to those companies.

After a rally person and he Boettcher.

Some money that is gas prices are rigged is optimal such about the he did let me he springs this on -- live from them I have to take that that otherwise I looked like a wimp.

Now I've got every gas station in my town they all offer the same price and I said no they don't have that they don't and cycling and -- for 2000 -- but fortunately I was right.

It's not collusion it's it's.

It's very hard to.

Allow tip create collusion yet everybody has to keep a secret and they say the only way to keep a secret between two people isn't one of them is -- And the gas companies adjust their prices all the time is the look of -- business that our president.

He didn't.

He pays his -- the fact he may have mistaken he paid 5000 dollars to my favorite -- -- in the classroom.

It's not 1005000.

O'Reilly -- notice the difference.

Course on markers showed overall I don't remark continue -- will also thank you alignment and the size of pleasant -- an important place -- -- put.

-- block of enthusiasm for your board presidential hundred -- I'm just so rapidly myself like him from improved that much like about anybody anybody else -- -- -- most of us are.

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