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The Secretary and Oil

Recorded on March 3, 2011

It's time for common sense; I'm Ernest Istook.

Testifying to a Senate Committee, the Secretary of the Treasury claimed that the world has plenty of oil that we could tap into if necessary, but he was talking about foreign oil because he’s part of an administration that is shutting off our domestic spigots. And so we pay high gasoline prices, lose jobs, and suffer trade imbalances because we’re not allowed to drill here but must import most of our oil.

Bad Government Policy is hitting you and your family right in the pocketbook. Another example is the record high food prices. High fuel costs make harvesting costlier, plus huge amounts of corn are diverted into low efficiency, government mandated ethanol; reducing the food supply both for people and for livestock, and raising grocery bills. Less government not only would mean lower taxes, it also would mean lower prices.

For common sense, from The Heritage Foundation, I'm Ernest Istook.