Much of what we think we know about oil and gas... is not so.

People assume the auto industry hates regulation. But big companies actually benefit from tough regulations. Amphibious vehicles would make great rescue vehicles for places with a lot of lakes and rivers but big automakers are so comfortable with current regulations that they join the government in resisting innovation.

Some say we need to decrease our dependence on oil, but without oil...we would be without more than just gasoline. Stossel asks his audience to guess which products aren't made from oil.

Then a debate on Ethanol. Stossel says "growing our way to energy independence" is a myth.

Stossel talks with people in Times Square... they seem to think all of our oil comes from foreign sources. They are wrong.

Most people say gas costs too much. Stossel says we should thank the oil industry when we fill up, because gas is cheap.

Stossel hosts a new show dissecting the news of the day and its effect on your wallet. Plus, the latest scams, hidden fees and other ways companies take advantage of consumers.