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VIDEO: Charles Gibson Spills the Oil Industry's Dirty Secrets
For the ABC News special Over a Barrel: The Truth About Oil (airing Friday, July 24, at 10/9 CT), Charles Gibson traveled the country to uncover some of the little-known secrets of the oil industry, including why prices have fluctuated so drastically — and what exactly fuels such changes. "Everyone wants to find a villain," Gibson tells TVGuide.com in this video Q&A, "but the amazing thing about oil is that ...
For the ABC News special Over a Barrel: The Truth About Oil (airing Friday, July 24, at 10/9 CT), Charles Gibson traveled the country to uncover some of the little-known secrets of the oil industry, including why prices have fluctuated so drastically — and what exactly fuels such changes.
"Everyone wants to find a villain," Gibson tells TVGuide.com in this video Q&A, "but the amazing thing about oil is that [even with the long and costly process of refining and delivery] you can put [gas] in your tank for about two-and-a-half bucks a gallon. We pay so much less than any other country."
Another startling stat pumped out in the special: Even though Americans make up only three percent of the global population, they consume a full quarter of the world's oil.
Gibson also details how the oil industry conspires to price gas in such a way that, for all the ongoing talk of exploring alternative fuels, a gallon of ol' regular will always smell like a sweeter deal.
"It is in their interest to keep the price at a point where we stay addicted, and it will not be economical to turn to alternatives," he says.
