There is a horrible psychological factor about $3 gas.
But, the higher prices, which I don't like, aren't killing anyone.
Real Gasoline Pump Price: Annual Average 1919-2007
But so far, the higher gasoline prices do not appear to be hurting consumer spending reports The International Council of Shopping Centers and UBS Tuesday. Their index of shopping at chain stores rose 1.1% last week from the prior week, and in a statement said sales for April have been running "well ahead" of expectations. Another report by Redbook Research said sales were up 5.3 percent compared with the same week last year. U.S. chain store sales rose on Easter-related purchases.
Higher energy costs also appear to not be feeding into inflation reports Barbara Hagenbaugh, USA TODAY, April 18.
Chinese President Hu Jintao announced his country's economy grew in the first quarter at a rate of 10.2 percent which also contributed to the price increase as traders worried that the rapid economic growth would fuel greater Chinese demand for petroleum imports.
Investors Push Oil Over $70 A Barrel
reported Steven Mufson --Washington Post.
[Note the word "Investors Push"]
Would the Antique Media get away with such inaccuracies, if the President or "his people" used FACTS "to educate" when addressing the American public on said issues instead of simplistic words that he is "concerned" (2x's in one brief remark)? We can only hope that the new shake up within Bush's 'informational inner circle' can finally get the President's horse out of the "starting gate"..or just to the starting gate from out of the paddock would be nice!!
http://www.usatoday.com/printedition/money/20060418/1b_oil18.art.htm
includes the graph Brent Baker quoted:
Page 1B
Oil hits $70 a barrel for first time
Fear of war with Iran over nuclear plans fuels jump
By James R. Healey
USA TODAY
Thanks Brent
Lying journoscum.
We have come to expect lies from the MSM.
And while without question the U.S. economy has weathered these increased energy prices over the past several years as well as can be expected....they will have a negative impact down the road if they don't come back down.
The notion of are they the "highest" ever or they are not the highest ever (indexed for inflation) is simply MSM BS hype! I agree.
But the other reality is who cares what oil prices were for a small segment of time in the early 80's (when we were in the midst of a terrible recession!). That is not the baseline to be comparing what we should expect now.
Granted we should have been in ANWAR long ago, we should have reduced the reg's on refineries, we should less the crazy number of reformulations, etc, etc......but regardless of all that energy prices are still very high today and they are having a negative impact (and like many negative economic values....their negative impact doesn't show up until months down the road from when they are occurring - Much like "new jobs" are a lagging indicator of an economy that is growing out of a recession....just the opposite is true regarding the negative impact high energy prices cause...it takes time before they actually start showing themselves.
If it's the highest dollar amount ever charged for a barrel of oil, then it's a record price. It might not be the record value once inflation is factored in, but it's the record price. And it's damned high.
They are protecting the Carter legacy.
If the networks didn't lie I would be nervous that they're up to something.
There is a horrible psychological factor about $3 gas.
But, the higher prices, which I don't like, aren't killing anyone.
You can't possibly expect a bunch of good-looking TelePrompTer readers to know basic math, would ya?
It's all great to know the truth but for the average American it's a shock to see $3.00 a gallon and as long as the MSM plays that line Bush will suffer in poll numbers. The Republican's are separating from Bush for this reason and are ready to take on "Big Oil" to assure they get reelected with average Americans. The "$400 Million" separation bonus didn't do big oil any favors with Americans or Congress either
It would seem MSM lies have hit record high.
ummm,
Sorry, but it is at record highs per barell...
facts are facts....
Yes, they could have done comparisons, but hey we pay record prices all the time...
How come we never hear about record high vehicle prices? They just keep going up....
"Oil prices settled at a record high for the third straight day on Wednesday."
Would like to see tv and newspaper ad costs charted.
This is not the "only way to measure prices over time", and in fact is not particularly accurate.
It is similar to the constant "record box office take" for new movies. Inflation and population growth constantly make record high absolute figures easier and easier to reach. The media just LOVES new records to report.....even if they are basically meaningless!!!!!