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Politics : Leftwing Agenda to Destroy the US -- Ignore unavailable to you. Want to Upgrade?

To: paret who wrote (552)	4/20/2006 6:18:45 PM
From: PROLIFE	Read Replies (1) \| Respond to of 908

Networks Falsely Cite "Record High" Price for Barrel of Oil Though in constant, inflation-adjusted dollars -- the only way to measure prices over time -- a price of a barrel of oil will have to exceed $87 to reach a record high, the broadcast networks have been falsely trumpeting nominal oil prices as a "record high." On Wednesday night, for instance, CBS Evening News anchor Russ Mitchell inaccurately asserted that "oil prices hit another record high today, closing above 72 bucks a barrel." NBC's Brian Williams wrongly claimed that oil prices were "surging to yet another record high close. The gain on the day 82 cents per barrel. Closing price of oil, $72.17 a barrel, the third record close in a row." ABC anchor Elizabeth Vargas teased, "Big Oil. Crude hits a record high for the third day in a row." Some print outlets have noted reality in stories about "record high" prices. In the April 18 USA Today, for instance, reporter James Healey acknowledged: "The Monday high is not a record if inflation is taken into account. That peak is the equivalent of $86.99 in today's dollars, set when oil was $38.85 a barrel in January 1981, according to the U.S. Energy Information Administration." For the USA Today story: www.usatoday.com For the Energy Information Administration's historic table with inflation-adjusted prices for a barrel of oil: www.eia.doe.gov The ABC, CBS and NBC April 19 evening newscast mis-reporting: # CBS Evening News. Russ Mitchell: "Oil prices hit another record high today, closing above 72 bucks a barrel." # NBC Nightly News. Brian Williams: "It was another wild day on the oil markets today with prices surging to yet another record high close. The gain on the day 82 cents per barrel. Closing price of oil, $72.17 a barrel, the third record close in a row." # ABC's World News Tonight. The up top tease from Elizabeth Vargas: "Big Oil. Crude hits a record high for the third day in a row. What's causing the price hikes? And is there an end in sight?" Vargas later in her newscast: "Now, to the price of oil. It set another record high today, for the third day in a row. The price of crude closed at $72.17 a barrel this afternoon. That's up 82 cents from yesterday's previous record. It means that Americans can expect to pay still more for gasoline. And ABC's Betsy Stark joins us to explain why the market is so volatile. Three record days in a row." For some more instances from earlier this week, check Ken Shepherd's short piece, "Networks Complain of 'Record-High' Oil That Isn't," on the MRC's Free Market Project page: www.freemarketproject.org