"First Read" Still Passing Gas
MSNBC's First Read continued its obsession with gas prices to the exclusion of, well, all other economic news this past week. A rough word-count of economic reporting on First Read's blog shows that of 3500 words devoted to economics, 3250 were about gas prices. This does not include a Monday posting ostensibly about the Dahab bombing that spent the second paragraph talking about oil prices.
Ironically, First Read is aware of the problem, even if they don't know that they know. On Friday:
Asked in the April 21-24 NBC/Wall Street Journal poll who is most responsible for high gas prices, 37% of those polled say the oil companies are most responsible. Oil-producing nations rank second at 22%, while only 15% lay the most blame at President Bush's feet and 4% say Congress bears the most responsibility.
...unstable relations with Iran and political instability in Nigeria seem to be the primary drivers of the price of oil.
Gee. I wonder where people are getting this idea that ExxonMobil is wearing the oil-soaked black hat here?