04/11/2013 11:06 am ET Updated Jun 11, 2013

When It Comes to the World's Oil Supply, There Is No Free Market

Whenever I bring up the importance of getting America the energy plan it deserves, someone always says, "Boone, let's not pick winners and losers. Let's let the market decide."

There's only problem with that statement. When it comes to the world's oil supply, there is no free market. OPEC sets the price, and they have for decades. Believe it or not, 70 percent of the world's oil is state-owned. But it's a whole different story when it comes to natural gas.

Watch this video for my thoughts on the key issue of supply and demand.