Bill Bennett: “People look at the economics of energy and make this point. They say it costs something like a dollar a barrel to lift…”

“People look at the economics of energy and make this point. They say it costs something like a dollar a barrel to lift the oil in Saudi Arabia. That is the elevating price, a dollar, a dollar and a half, whatever. It doesn't sound like very much when oil is selling for something like $60 a barrel. They look at the difference between the lifting cost and what we are paying, and then they look at the difference between the cost for a barrel of oil and the cost of a gallon of gasoline and they say: Somebody is making an awful lot of money here, and there has to be something wrong. There has to be someone hiding in the weeds who is profiteering off us. If we can find that 'someone' and stop him from doing the profiteering, then everything would be fine, we would have plenty of oil, we would have lower prices at the pump, everything would be fine. There is a conspiracy going on. There is somebody somewhere who needs to be discovered, exposed, and attacked, and then everything will be fine. Well, unfortunately, the real world does not operate like that.”