Oil & Gas Prices

For months, NewsBusters has been warning readers of the likelihood that media will adopt the 1992 Clinton playbook of regularly depicting the economy as being far worse than it really is.On Sunday, the Democratic National Committee released a new television advertisement attacking GOP presidential candidate John McCain with economic statistics that don't measure up to even the slightest scrutiny…

Barack Obama has been airing a shamelessly anti-business TV ad in Pennsylvania for a while now. In the ad Obama himself, in his own voice, makes the claim that he doesn't "take money from oil companies." But there is a two-fold deception in this claim that Obama doesn't tell his sycophantic fans. So where is the media to pounce on these cynical deceptions? They’re nowhere to be seen. Recently I…

You're going to need a few extra bucks to pay for those corn flakes every morning.CNN's senior business correspondent Ali Velshi let viewers in on an underreported fact about rising commodities prices: the government mandate for ethanol production is making corn and other agricultural products more expensive-making inflation a top priority for Americans."Several years ago, we made some decisions…

About once a year, Congress brings in oil executives, with the media piling on, and blames oil company profits for high gas prices. Across the dial, all three network morning shows on April 1 - ABC's "Good Morning America," NBC's "Today," and CBS's "The Early Show" - characterized "big oil" as the culprit behind an increase in gas prices. On ABC's April 1 "Good Morning America," which…

A fairly common media meme during the past year or so has been that the continually declining value of the dollar is driving up oil and gas prices (image courtesy Slate).In the past three months alone, there have been over 100 stories involving this very subject, including this March 10 piece from U.S. News & World Report entitled "Why Gas Prices Rise as the Dollar Falls (emphasis added):…

It's a common trick the media employ when reporting on "skyrocketing" gas price stories: show photos or B-roll of price marquees that bear prices way above the actual average price.MSNBC.com's front page this morning is no exception, as the screen cap at right shows regular unleaded for $3.979, or 21 percent higher than the national average of $3.27.The article's headline reads, "Rising gas costs…

One of the global warming community's favorite alternative energy resources is solar energy. Since it emits no greenhouse gas, it gives alarmists a warm and fuzzy feeling. However, that feeling has affected NBC's global warming reporter Anne Thompson ability to apply basic economic principles to her stories. According to Thompson, there are two drawbacks to solar power - 1) You're at the mercy…

On Thursday’s CBS "Early Show," co-host Maggie Rodriguez hyped rising gas prices as she teased an upcoming segment and declared: "Still ahead for us, more pain at the pump. You'll be paying $4 a gallon or even more." Though $4 a gallon may happen, asserting that it will be that high, or higher, in the near future certainly paints an overly dire picture. While introducing the segment, Rodriguez…

On CNN Sunday, correspondent Al Velshi reported in by phone from Texas with his story of "lifelong Republicans" who are planning to vote Democratic this time because of health care. Velshi: "They are retired, they've been lifelong Republicans who are actually looking to change over. They're probably going to vote Democrat this time around." (Transcript follows)

The eco-love affair Washington has with biofuels is starting to take a toll on the fragile U.S. economy. It's a shame no one in the media have that connection. "World News with Charles Gibson" explained on February 20 that biofuels are driving up food prices, which is driving up inflation. The Consumer Price Index (CPI), a key inflation reading, rose 0.4 percent in January according to the…

Early last month, when oil prices flirted with inflation-adjusted record highs, fears of sky-high gas prices were filtered through the media. CNBC's Erin Burnett gave viewers a frightening prediction of $4-a-gallon gasoline during a January 2 appearance on the NBC "Nightly News." The "Street Signs" anchor cited John Kilduff, the vice president of risk management at the MF Global Ltd.…