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We've Got Half the World's Oil, But You're Not Supposed to Know

Recorded on May 14, 2012

From The Heritage Foundation, I'm Ernest Istook.

The most important news too often is ignored by major media.

For example, an official report shows the available oil in the U.S. equals all the proven reserves in the rest of the world—combined.

So why spend billions to subsidize ethanol and alternative energy while restricting oil production, which is the same as restricting jobs.

A Congressional hearing on the report was ignored by most media. It gets in the way of phony claims about green jobs. The real tragedy is that most of this oil is on federal land, and our government will not let us drill for it.

It's half the oil in the world. We could create a multitude of jobs, reduce dependence on foreign oil, and lower prices at the pump.

It's bad enough when the Obama Administration is dishonest about this; it's even worse that the media are not being honest either.

From The Heritage Foundation, I'm Ernest Istook.