Free Republic

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...