Oil & Gas Prices

I'm regularly amazed by the economic ignorance of today's television commentators. Consider MSNBC's Chris Matthews who on Monday's "Hardball" actually said, "Nobody thinks this country can drill its way out of high gas prices" (video follows with transcript and commentary):

Good Morning America's George Stephanopoulos on Monday described the country's "gas gripes" over rising fuel costs, adding, "Soaring prices lead to new pain for the President as big oil gets ready to report record profits." (MP3 audio here.) The former Democratic operative turned journalist tried to put the best spin on Barack Obama's growing problems: "And, Jake, these gas prices are also…

The average price for a gallon of unleaded gasoline hit $3.86 on April 25, more than $1-a-gallon higher than a year earlier and less than 25 cents away from the record high price of gasoline set in July 2008. In fact, per gallon prices are more than $2 higher than when Obama took office Jan. 20, 2009. Yet the president has been nearly exempt from criticism on the issue of rising prices,…

The establishment press's lack of interest in associating President Obama with the sharp run-up in energy costs has been thoroughly documented by several folks at the Media Research Center, including but not limited to Julia Seymour when gasoline hit the $3 mark, and more recently Brent Bozell. Saturday, the Associated Press's Mark S. Smith took the gas-price propaganda to the next level. As…

NewsBusters publisher and Media Research Center president Brent Bozell appeared on the April 22 "Fox & Friends" to discuss the media's double standard on rising gas prices. In short, in 2006, the media blamed then-President Bush, but in 2011, anyone but Obama seems to be at fault as far as the media are concerned. For the full video of the segment, watch the video embed posted after the…

While the morning show hosts on NBC and CBS showcased the looming political threat of high gas prices for Barack Obama, ABC, Friday, simply repeated White House talking points and explained how the President will try and blame Republicans. Reporter Bianna Golodryga noted that Obama "wasted no time" in going after the GOP. She parroted, "During his speech in Reno, President Obama argued that…

The star of the hit series now in syndication "Cheers" made a strong statement about offshore drilling on the one year anniversary of the BP oil spill. "We should not just close some of our coasts to drilling," wrote Ted Danson at the Huffington Post Tuesday. "We should close all of them": 

On April 20, 2010, a horrific oil spill took place in the Gulf of Mexico on British Petroleum's (BP) Deepwater Horizon rig. Since that day, gas prices have risen nearly $1-a-gallon to $3.83 per gallon. President Barack Obama's anti-oil policies, including a drilling moratorium are at least part of the reason for that dramatic spike. But you will rarely hear that from the mainstream media. It…

For the second night in a row Tuesday, MSNBC's Ed Schultz called Republicans liars. Also for the second night in a row, he did so moments before lying himself (video follows with transcript and commentary):

When Democrat presidential candidate Walter Mondale announced in his October 1984 debate with former President Reagan that he would raise taxes if elected, his  campaign was over, and he ended up losing one of the biggest election routs in American history. As Barack Obama prepares to offer the nation his deficit reduction plan Wednesday, it is widely believed he is going to recommend tax…

Reasonably astute readers will catch the falsehoods and fallacies inherent in the following statement made by President Obama last Wednesday at the town hall meeting held in Fairless Hills, Pennsylvania: But here’s the thing about oil. We have about 2, maybe 3 percent of the world’s proven oil reserves; [1] we use 25 percent of the world’s oil. [2] So think about it. Even if we doubled the…

Back in mid-2008, as gas prices approached $4 a gallon and the first inklings that a real recession would soon be under way were appearing, George W. Bush told a town hall audience questioner who wondered when gas prices might start coming down that it might be time for owners of gas-guzzling SUVs like the questioner to "think about a trade-in." He also laughed at the questioner's indication…

On Wednesday's All Things Considered, NPR's Ari Shapiro acted as a stenographer for the Obama administration's energy proposals. Shapiro played four clips from the President's recent speech on the issue, and another from a sympathetic environmentalist. Even the lone clip from an oil industry representative came from someone who "supports the move to invest in biofuels and clean energy." At…

On Thursday at Reuters, Andrew Quinn, with the help of Caren Bohan, cobbled together a pathetic "analysis" full of sympathy for a "struggling" Barack Obama and recognition of the need to keep oil flowing from Saudi Arabia. It also contained a false jab at George W. Bush and the War in Iraq. First, let's look at Quinn's Bush jab: Obama is committed to partnering with other countries rather…