With gas prices continuing to rise amid the ongoing Russian invasion of Ukraine, NBC Nightly News committed a random act of journalism by calling out the reality that the Biden administration’s energy policies are doing nothing to give consumers some economic relief at the gas pump. Meanwhile, ABC’s World News Tonight failed to mention how ineffective the administration’s energy policies are, instead, boasting about them.
NBC’s Lester Holt announced that as “the war in Ukraine rages, it's sending gas prices soaring.” To combat the surge in gas prices, Holt reported that the “U.S. and other countries have agreed to release 60 million barrels of oil reserves to bring relief.” In a moment of honesty, Holt then admitted that releasing oil from the reserves has proved to be “just a drop in the bucket.”
In his report following Holt’s announcement, correspondent Tom Costello pointed out how the national average price of a gallon of gasoline “has jumped four cents in just one day to $3.65,” which is an increase of twelve cents in the past week, and also up twenty-five cents a gallon from last month.
Costello explained that the reason for this drastic increase is because Russia is the world's second-largest oil exporter, and when its oil exports were put “under a de facto ban as shippers refuse Russian oil” that has caused prices to soar. He also noted that today “oil topped $112 a barrel for the first time since 2011.”
As tough as NBC was on the Biden administration’s energy policies, Fox News’s Special Report went even further with Fox Business correspondent Jeff Flock observing that “the release of oil from the strategic petroleum reserve that the president announced has had absolutely no impact on price. Prices have continued to rise.”
In stark contrast to both NBC and Fox News’s coverage, ABC’s World News Tonight gave a scant fifteen seconds to Biden releasing oil from the reserves, and never mentioned how it’s done nothing to drive down prices. Here is what anchor David Muir said:
To the index, to gas prices. The national average for a gallon now $3.61, up four cents overnight. California, Nevada, Oregon, and Washington state now topping $4. The President announcing the U.S. And 30 other countries will release millions of barrels of oil to help lower prices.
ABC has done this in the past, with Muir praising Biden for tapping the oil reserves the last time he did this back in November. As you might have noticed if you’ve had to fill up your car since November, it did nothing to lower gas prices.
This massive spin job for President Biden by ABC was made possible because of lucrative sponsorships from Progressive. Their contact information is linked so you can tell them about the biased news they fund.
The transcripts are below, click "expand" to read:
NBC Nightly News
7:21:37 p.m. Eastern
LESTER HOLT: As the war in Ukraine rages, it's sending gas prices soaring. The U.S. and other countries have agreed to release 60 million barrels of oil reserves to bring relief. But so far, it's proving to be just a drop in the bucket. Here's Tom Costello.
TOM COSTELLO: Bad news for anyone who uses gasoline. Just take a look at pump prices.
COSTELLO: The national average has jumped four cents in just one day to $3.65 a gallon, up 12 cents in a week, 25 cents in a month. California pays the most, averaging $4.86 a gallon.
PATRICK DE HAAN (GASBUDDY PETROLEUM ANALYST): Over the course of the weekend, it would not be surprising that motorists could step outside, see the gas station, and prices could go up 20, 30, even 40 cents a gallon in some of these areas.
COSTELLO: Here's why. Russia is the world's second-largest oil exporter. But today its exports are under a de facto ban as shippers refuse Russian oil, countries turn away Russian tankers, and banks refuse to extend credit.
Today oil topped $112 a barrel for the first time since 2011. While U.S. Oil companies under pressure to preserve profits are still pumping 10% less than before the pandemic. Exxon and Chevron say they plan to increase production, but it won't be quick.
COSTELLO: Airline ticket prices also likely to get more expensive with jet fuel surging 35 cents a gallon in just two days. Experts say higher prices could last months or even years. And this year alone, American families could pay an extra $600 to $700 extra just in gasoline. Lester.
ABC’s World News Tonight
6:53:37 p.m. Eastern
DAVID MUIR: To the index, to gas prices. The national average for a gallon now $3.61, up four cents overnight. California, Nevada, Oregon, and Washington state now topping $4. The President announcing the U.S. And 30 other countries will release millions of barrels of oil to help lower prices.