CNN's "In the Money" Pulls Back from Conspiracy Theory on Gas Prices
An excerpt from my latest item up at the MRC's BusinessandMedia.org Web site. See my article for more, including links to external content:
The recent discovery of new oil reserves in the Gulf of Mexico was the perfect excuse for CNN’s Jack Cafferty to revisit his election-year conspiracy theory. But when the September 9 "In the Money" aired, the program’s panelists talked to an oil analyst about the future of oil and gas prices, leaving out the idea of a Big Oil-GOP axis of petrol.
"You know, if you were a real cynic, you could also wonder if the oil companies might not be pulling the price of gas down to help the Republicans get re-elected in the midterm elections a couple of months away," Cafferty suggested on the August 30 "Situation Room," just five days before the Chevron (NYSE: CVX) oil discovery.
Cafferty, prompted by panelist Jennifer Westhoven, repeated the allegation on the September 2 "In the Money." "Certainly the thought had crossed my mind. I mean, the oil companies have a vested interest in seeing that the Republicans remain in control of the federal government," he remarked.
"They wouldn't pull prices down before the mid-terms now, would they?" he added over laughter from his fellow panelists.
With Cafferty absent from the September 9 "In the Money," neither substitute host Andy Serwer or program panelist Allen Wastler raised Cafferty’s theory when interviewing oil analyst Fadel Gheit.