Tuesday, June 05, 2007
Media Myth: Gassing Up
It's a never-ending hot topic; and it fits very well into "bad news sells"...
At the end of a long article, Dan Gainor comes to this conclusion:
"Gas prices are cyclical. High demand, lack of new refineries, high regulation and higher taxes all contribute to rising prices. But that doesn’t excuse the hype and the seemingly endless stream of journalistic predictions. Gas prices had journalists chomping at the bit while they were going up and caring little when they came down.
Former 'CBS Evening News' anchor Bob Schieffer summed up much of what was wrong in the network reporting on high gas prices. In an Aug. 30, 2006, account, he managed to downplay the good news of declining prices and predict an ongoing problem. 'Whatever the short-term prospects for gas prices, though, over the long haul, it is clear the days of cheap gas are over,' he claimed.
After Schieffer’s comment, gas prices dropped every business day until mid-October."
