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.
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:
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.
Tonight at 9PM on Fox Business Network.