One-Way Street: Today Touts "Soaring" Gas Prices - But When They Plunged?

Have a look at the chart at the bottom and answer one simple question: what's the biggest gasoline-price story over the last six months? Sure looks as if it was the way gasoline prices nose-dived about 80 cents from September to November. Remember all those MSM stories highlighting the plunge? Neither do I.

But let market fluctuations push prices up about fifteen cents in the last month, and you can be sure that the MSM will start bemoaning 'soaring gas prices.'

As you can see from the screen capture, the Today show was at it this morning. In fact, as Today had to admit, we currently are enjoying "the biggest oil inventory in seven years," which normally would keep prices down. If there's a culprit in this scenario, perhaps we can thank those folks at Archer Daniels Midland and their friends in Congress who have forced ethanol down our throats and gas tanks.

According to Today, due to a new law taking effect requiring the introduction of ethanol into the gasoline mix, "ethanol could push pump prices above $3 in the coming months."

At the end of the segment, host Lester Holt, perhaps with a tinge of remorse over MSM bias, told his expert guest: "someday we'll have you on talking about plummeting gas prices, alright?"

Don't count on it.

Finkelstein lives in Ithaca, NY. 'Right Angle', the TV show he hosts, was recently named 'Best of the Best' among public-access shows in his area. Contact him at: mark@gunhill.net

Mark Finkelstein
Mark Finkelstein is a contributing editor for NewsBusters.