CBS and NBC Stick With Gas Pains, Ignore Wednesday’s Huge Price Decline

May 4th, 2006 2:44 PM

The wholesale price of oil and gasoline took a huge drop on the commodities markets Wednesday. But, you never would have known it from watching the broadcast networks’ evening news programs. In fact, the pain at the pump mantra continued in earnest at CBS and NBC without even the slightest mention of a greater than $2 decline in oil prices and an almost 9 cent decline in gasoline prices on the New York Mercantile Exchange.

Instead, the NBC “Nightly News” did two pieces dealing with rising energy prices, including one about the politics of the problem. Brian Williams began the report: “Also in Washington tonight, these days, as we know, a lot of high anxiety over gas prices, and more political fighting over what to do about it.” Williams handed it off to David Gregory who concluded: “Amid all the anxiety tonight, some hope. Oil industry sources and administration officials say, given a recent boost in the supply of gas, that prices could actually come down, at least a bit, this summer.” Might have been a nice time to tell the viewers that they already have. In fact, after reaching a wholesale price high of $2.23 per gallon a few weeks, yesterday’s close of $2.09 represents a six percent decline in about eleven trading days. I guess energy prices are only newsworthy when they go up.

Of course, the CBS “Evening News” didn’t do much better, as it decided to report on how rising gas prices are harming a minor league baseball team. Bob Schieffer set up the segment:

“The Energy Department predicted today that oil prices will remain high through next year, and the high prices now seem to be having an impact on driving habits. The demand for gasoline seems to be leveling off. In our series EYE ON AMERICA, Sharyn Alfonsi is driving from Florida to New England to report on the impact of high gas prices.”

Correspondent Sharyn Alfonsi stated, “…from the batters box to the bleachers is feeling the sting of high gas prices.” After hearing how one player’s wife couldn’t afford to drive out from California to see him play baseball in North Carolina – “Gas prices affecting me following my dreams, that's just, that's ridiculous.” – Aflonsi concluded:

“Now the average AA player makes just about $12,000 a year, but these gas prices are likely to affect the way we all play this summer. Just take a look at what this trip is costing us. We've gone about 950 miles. It's cost us $182 to fill up the Expedition, $94 to fill up the Accord and $68 to fill up the Prius. Now, no one wants to see those numbers in big bright lights, but for us, they are only going to get larger as we still have about 9--excuse me, 600 miles to go.”

Of course, neither Alfonsi nor Schieffer chose to inform the viewer about the huge decline in oil and gas prices that occurred earlier in the day. What follows is a transcript and a video link of both of these reports. 

BRIAN WILLIAMS, anchor (Minneapolis):

Also in Washington tonight, these days, as we know, a lot of high anxiety over gas prices, and more political fighting over what to do about it. The story from NBC News chief White House correspondent David Gregory.

DAVID GREGORY reporting:

At the White House today, the president huddled with members of Congress, all looking for a political solution to high gas prices.

President GEORGE W. BUSH: The prices of gasoline should serve as a wake-up call to all of us involved in public office that we have got a energy security problem and national security problem.

GREGORY: In another sign of how nervous congressional Republicans are in this election year, a House panel today pressed ExxonMobil to disclose details of the $400 million severance package for former CEO Lee Raymond. The company's current CEO told Matt Lauer this morning on "Today," the company would not consider lowering profits to bring down gas prices this summer, saying they have shareholders to answer to.

Mr. REX TILLERSON (Chairman and CEO, ExxonMobil Corporation): (From "Today") Well, that's not the business. We're in the business to make money.

GREGORY: In Congress, big oil is public enemy number one.

Senator RICHARD DURBIN (Democrat, Illinois): It's the oil man who's taking money out of every family's budget, almost $100 a month for additional energy cost.

GREGORY: Congress is scrambling to respond to public anger about gas prices. And today, the House passed criminal penalties for energy companies caught price gouging, but failed to pass a measure to expand sorely needed crude oil refining capacity. Democrats thought the bill would hurt the environment. One top oil industry source said today conservation is getting far too little attention as a short-term solution to gas prices, a point echoed by New Mexico Republican Senator Pete Domenici today.

Senator PETE DOMENICI: We're going to change our buying habits, and we're going to make cars available that people can buy that do a better job on conservation.

GREGORY: Amid all the anxiety tonight, some hope. Oil industry sources and administration officials say, given a recent boost in the supply of gas, that prices could actually come down, at least a bit, this summer. David Gregory, NBC News, the White House.
  

 

BOB SCHIEFFER, anchor:

The Energy Department predicted today that oil prices will remain high through next year, and the high prices now seem to be having an impact on driving habits. The demand for gasoline seems to be leveling off. In our series EYE ON AMERICA, Sharyn Alfonsi is driving from Florida to New England to report on the impact of high gas prices. Tonight, she's in North Carolina.

SHARYN ALFONSI reporting:

Thirty miles outside of Raleigh, we found the home of the Carolina Mudcats. On a good night, 5,000 fans will fill the stands here.

Unidentified Man #1: Hey, how are you?

ALFONSI: And every one....

Man #1: Hey, young man, how are you this evening?

ALFONSI: ...from the batters box to the bleachers is feeling the sting of high gas prices. They call it the "bus leagues" for a reason. The Mudcats will travel 13,000 miles this summer on one. Their record on the road is pretty bad, but the cost of getting the guys there and back is awful.

Unidentified Man #2: It's up 40 percent from last year. And it's directly proportional to the cost of gas.

ALFONSI: Team owner Steve Bryant is also paying delivery surcharges on ballpark food. So far, he hasn't had to pass it along to fans.

Unidentified Man #3: Buying gas, it cuts out on everything else.

ALFONSI: Like the Brodies. They can still afford to take the kids to the ballpark, but the beach?

Unidentified Man #4: We always tell them if they do good in school, we'll take them somewhere, you know, during the summer. Well, this year I doubt we'll be able to do it because of the gas prices.

ALFONSI: High gas prices may keep a lot of fans from going to the beach this summer. And while that's good for attendance, even getting to home games is tough on the players. Mudcat pitcher Ben Julianel sold his car this year and started carpooling with his teammates. You spend like thousands of miles on the road with these guys all summer long, and then you have to carpool with them to work?

Mr. BEN JULIANEL: And then I have to carpool with them to work. And, you know, we're all on different schedules, and so we get sick of each other sometimes. Like, I don't want to go early today.

ALFONSI: Julianel can't afford to drive anymore. And this year, his wife couldn't afford to drive out from California to watch him play.

Mr. JULIANEL: Being from California and driving to the other side of the United States, and just the gas prices are too outrageous.

ALFONSI: Julianel says if things get much worse, he may even have to quit.

Mr. JULIANEL: Thinking about that. Gas prices affecting me following my dreams, that's just, that's ridiculous.

ALFONSI: Now the average AA player makes just about $12,000 a year, but these gas prices are likely to affect the way we all play this summer. Just take a look at what this trip is costing us. We've gone about 950 miles. It's cost us $182 to fill up the Expedition, $94 to fill up the Accord and $68 to fill up the Prius. Now, no one wants to see those numbers in big bright lights, but for us, they are only going to get larger as we still have about 9--excuse me, 600 miles to go. Bob:

SCHIEFFER: Those numbers are more stunning with every report, Sharyn. Where do you go tomorrow?

ALFONSI: Tomorrow we are going to Washington, DC, where we're going to be talking to some folks and saying, `Exactly what would it take for you to give up the keys to your car and commute on mass transit?' And you'll be surprised at the number they have for us. Bob:

SCHIEFFER: Thank you very much, Sharyn.

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