Oil & Gas Prices

In the wake of former Sen. Phil Gramm's statements earlier this week about this being a nation full of whiners, the good folks at ABC's "Good Morning America" brought on a consumer psychologist Sunday to discuss whether or not the McCain advisor had a point.Shockingly, not only did Kit Yarrow tell host Kate Snow that "the way consumers feel about things is very emotional," but also these "…

When it comes to illustrating high gas prices, the liberal media sure love San Mateo, California. What with its gorgeous, sunny weather and consistently above-average gas prices, it makes for a shocking image of "pain at the pump."In the top headlines feature for ABCNews.com, editors included a tease for a story on oil prices heading towards $147-a-barrel, and chose a photo of a gas marquee…

The call to arms is emotional: ‘We need a President who will stand up to Big Oil!’ The impact is nationwide: ‘National Day of Action for an Oil Free President… At gas stations across the country…’ The movement is massive: ‘American people need an Oil-Free President!’ And the Albany Times Union took a photo-op to demonstrate the fury of the numerous protestors – all 7 of them. Making the photo…

The public is forever complaining about how the media are obsessed with bad news and rarely look for the good in what's going on, but sometimes doing so becomes just a little ridiculous. Such is the case with an Omaha, Nebraska TV station which managed to find some good news about higher gas prices: fewer people dying from auto accidents.I suppose that we should be cheering gas to go to $15.00 a…

On Wednesday's CBS "Early Show," co-host Russ Mitchell declared: "The high cost of gas is hurting everyone these days. Families, businesses, and even charities. Many organizations that deliver food to the sick and elderly are being hit extra hard." In the report that followed, correspondent Kelly Wallace went even further: "In one rural California case, according to the president of Meals on…

Forget the basics of supply and demand, just find someone to blame. As Congress takes new aim at speculators for the high price of gasoline, some media reports seem to be following suit. But as The Biz Flog explains this week, there is considerable debate over whether speculators should be blamed for the high cost of oil. June 23, the same day Democrats on the House Energy and Commerce…

A report on the economic policies of John McCain and Barack Obama by correspondent Chip Reid on Monday’s CBS "Evening News" suggested that Obama’s supposed middle class tax cut would be more beneficial for American families: "Obama's plan is to roll back the Bush tax cuts for the wealthy and use the savings for a middle-class tax cut...A recent study by the non-partisan Tax Policy Center says…

Ho no, here we go again. Gas price hysteria from the MSM. "Here's a troubling look at what some people are doing for gas. A 34-year-old Kentucky woman was arrested for prostitution after she was allegedly trading sex for $100 gas cards."So began a video story at ABCNews.com, which made today's top headlines roundup with the teaser headline: "Sign of the Times: Sex for Gas." While the short video…

Thursday’s "Good Morning America" used the Fourth of July holiday to exaggerate the effects that food prices are having on consumers. In its "Hitting Home" segment, reporter Sharyn Alfonsi reported on the price increases of certain Fourth of July barbecue staples, claiming that "Americans are gonna eat 110 million pounds hot dogs and that could take a big bite out of their wallets."…

The consequences of a military attack on Iran to thwart its nuclear intentions could have a global economic impact, according to NBC News chief foreign correspondent Richard Engel. Engel warned on the July 1 "NBC Nightly News" an attack by Israel could send oil prices soaring - sending gas prices into territories never imagined. "I asked an oil analyst that very question," Engel said. "He…