Oil & Gas Prices

I didn’t believe it when I saw it, nor did I believe a NewsBusters member when he/she referred to it in our comments section. But, there it was in USA Today: “Gas Price Decline May Spur Inflation.” Can’t be, right? After all, even if you’re not an economist, you are intelligent enough to realize that inflation is typically caused by higher energy prices. Such was certainly the case in the ’70s,…

Remember last year at this time when you couldn’t turn on your television set without coming across a story on rising gasoline prices? Well, a year later, gas is now $2.50 a gallon, down 50 cents in just one month, twenty-nine cents lower than last year, and the broadcast network news programs couldn’t care less. As reported by Reuters Monday:The freefall in U.S. gasoline prices continued as the…

In a September 15 report for "The Situation Room," CNN reporter Bill Schneider wondered if the current decrease in gas prices has been timed to help Republicans in the midterm elections. He ominously asked: Schneider: "The drop in prices may last a couple of months, long enough to get through the November election. Could that be what the oil companies want?"Does this mean that high prices in the…

This was not a good day, and probably won't be a good weekend, for those who have been bad-mouthing the economy -- Drudge reports that retail gas in Missouri is as low as $1.85. Around Cincinnati it's as low as $1.97 - $1.99 (link is dynamic and will obviously change): Oil is sliding down towards $62 per barrel.