February 18th, 2009

Computer Moose

More Corporate News Suckage

I was just given a rude reminder of why I don't rely on network news for finding out real information on how the world is working right now. Currently, Yahoo is linking to a clip from ABC News that purports to go "looking for the answer" as to why gas prices are 25% higher (or more) across the country since December even though oil prices have fallen. While there is a very brief effort made at an explanation (the refineries are cutting back production due to the economy), most of the five-minute segment is just giving spot reports of gas prices and getting the reactions of people while they're pumping their gas. No effort is made to interview refinery owners or executives at the gas companies nor do they attempt to conduct interviews with any experts on the field. Worse still, the editing of the piece was done in such a manner as to suggest to those watching that gas prices are just going to go up more and that we should just accept it.

Nothing like having the corporate media in the backseat of big oil.

Just to be clear, given that it's ultimately a limited resource and that we are near (if not already at) the global peak oil scenario, gas is probably too cheap and we need to do more to price and treat oil as the precious commodity it really is. However, the current situation where gas prices are rising at a rapid rate when crude is dropping just goes to prove that "capitalism" (I put it at quotes because the oil industry does not follow the typical rules of capitalism) is not the best way to manage our energy resources.

Anyway, I've already wasted too much of my time this morning on this. It's time to get Tank and myself ready for our respective days.