OPEC

Oil and Gas Prices Drop, But Nets Refuse to Credit Fracking in 93% of Stories

julia.seymour — Thu, 11 Dec 2014 17:15:12 +0000

Networks’ evening shows rarely admit contribution of drilling technology to booming U.S. production.

Joseph Rossell

Thanks in part to the widespread use of technologies like hydraulic fracturing and horizontal drilling, global oil prices plummeted in 2014. Energy experts even predicted the U.S. could be the top oil producer in the next several years.

Saudi Oil Minister Reprimands CNBC Reporter for Calling OPEC a 'Cartel'

admin — Thu, 28 May 2009 17:38:12 +0000

Jeff Poor

It’s the new “C” word according to Melissa Francis, co-host of CNBC’s “The Call.” Using the word “cartel” to describe OPEC is officially a no- no.

The Media's Top 10 Worst Economic Myths of 2008

admin — Thu, 11 Dec 2008 20:40:45 +0000

Julia A. Seymour

Paul Detrick

Each year the Business & Media Institute looks back on the year's news and selects the top 10 worst economic myths. Here is our 2008 list:

10. Capitalism is dead or dying.

9. Gas at $4-a-gallon, blame the oil companies.

8. Fannie’s failure

7. Barack Obama sends stocks soaring, but not sinking.

6. Alternative energy: All gain, no pain

5. The economy has a fever and the only prescription is more bailouts.

4. Attack of the Killer Tomatoes

3. Oil prices will skyrocket to $200 a barrel, gas to $15.

Trump: Pelosi Should Have Impeached Bush

admin — Fri, 17 Oct 2008 21:40:35 +0000

Jeff Poor

Financial legend Donald Trump, in an interview by CNN’s Wolf Blitzer on the Oct. 15 “The Situation Room,” expressed his disappointment House Speaker Nancy Pelosi didn’t move to impeach President George W. Bush.

“[I] was surprised that she didn’t do more in terms of Bush and going after Bush,” Trump said. “It was almost – it just seemed like she was going to really look to impeach Bush and get him out of office – which personally I think would have been a wonderful thing.”

ABC Admits Doom-and-Gloom Gas Price Forecasts Were Wrong

admin — Wed, 15 Oct 2008 14:47:44 +0000

Jeff Poor

As gas prices climbed during summer, broadcast networks relentlessly supplied an onslaught of high gas price segments. But as prices plummeted, ABC admitted that its gas price predictions were wrong.

The Oct. 14 “World News with Charles Gibson” reported falling gas prices and finally told viewers its own forecasts of prices soaring even higher in the short term were incorrect.

'Squawk Box' Guest Warns of $12-15-a-Gallon Gas

admin — Wed, 21 May 2008 19:38:13 +0000

Jeff Poor

It may be the mother of all doom and gloom gas price predictions: $12 for a gallon of gas is “inevitable.”

Robert Hirsch, Management Information Services Senior Energy Advisor, gave a dire warning about the potential future of gas prices on CNBC’s May 20 “Squawk Box”. He told host Becky Quick there was no single thing that would solve the problem, due to the enormity of the problem.

MSNBC: Man Avoids 'Sky High Gas Prices' by Riding Horse

admin — Fri, 09 May 2008 19:38:35 +0000

Paul Detrick

Gas prices got you down? Ride a horse, says MSNBC.

On a “MSNBC Live,” report on “sky high gas prices” anchor Tamron Hall relayed the story of one man who is using a horse rather than a vehicle, but did not explain some important reasons why prices have soared.

The Real Gas Threat - from OPEC

admin — Wed, 26 Mar 2008 15:39:23 +0000

Ariel Cohen, Ph.D.

Skyrocketing gasoline prices may be pushing the U.S. economy over the edge, but the oil-rich lords of the Organization of Petroleum Exporting Countries (OPEC) oil cartel don’t give a hoot.

Chakib Khelil, OPEC’s president and Algeria’s oil minister, has warned that oil may go to $120 a barrel. Khelil is an optimist – if one or more of the major oil producers, such as Iran or Venezuela, gets embroiled in a conflict or otherwise destabilizes, oil could go up beyond $130 a barrel, experts say.

Crude Coverage

admin — Wed, 19 Mar 2008 21:38:00 +0000

Nathan Burchfiel

The media are awash with historical flashbacks. Is this the worst economy since the Great Depression? Or is it a repeat of ’70s-era financial woes? For the most part, the comparisons have been less than accurate. But there’s one the media have missed: an old villain from the ’70s causing Americans grief over oil and gas.

Missing: Media Criticism of OPEC

admin — Wed, 20 Feb 2008 16:39:36 +0000

Jeff Poor

Remember the resentment the media showed toward oil companies when they announced record profits?

Media Premature on Anticipated Doom of $100/Barrel Oil

admin — Mon, 03 Dec 2007 18:23:11 +0000

Jeff Poor

As of December 3, oil is trading under $88 a barrel, but it wasn’t that long ago the media were jumping on the $100-barrel bandwagon, warning Americans the worst was ahead.

Blackouts: New Energy Conservation Program?

admin — Wed, 18 Jul 2007 19:29:50 +0000

Dan Gainor

The well is about to run dry.

That’s what the International Energy Agency said in early July. According to the Financial Times, “oil looks extremely tight in five years time.”

Why wait five years? Oil looks pretty tight right now. As of this writing, oil is floating around $74-$75 and gas is more than $3 a gallon yet again. We aren’t running out by any means, but it’s not exactly pleasant for consumers.

And journalists are sure to jump on the industry once again. You can almost format the media coverage in advance:

Post Buries OPEC Production Cut Inside Paper

admin — Fri, 20 Oct 2006 19:56:26 +0000

Ken Shepherd

Conspiracy theories involving Republicans and “Big Oil” are more newsworthy to The Washington Post than an international oil cartel’s moves to pump up prices.

While The Washington Post recently highlighted in its Business section how people believe Republicans and “Big Oil” conspired to lower gas prices before the election, a story about OPEC’s plans to cut oil supply in order to raise oil and gas prices was relegated to page D3.

Media Ignore OPEC's 'Toying' with Oil Output

admin — Thu, 05 Oct 2006 17:11:29 +0000

Ken Shepherd

An official within an international oil cartel recently suggested calling an “emergency meeting” to arrange for oil production cuts in an attempt to drive up the price of oil. Although the move follows a smaller production cutback by OPEC member states Venezuela and Nigeria in late September, the mainstream broadcast media have paid little if any attention to the development.