Eric Boehlert: Gas price coverage gives Big Oil a pass

[babylonsister]

Gas price coverage gives Big Oil a pass
Missing the big story
Eric Boehlert
33 min ago


snip//

The pump coverage in recent months has been especially intense because the media under Biden has gone all in on the larger issue of inflation. It’s constantly portrayed as a crushing force on the U.S. economy, even though the economy continues to expand and add jobs at a record pace.

The last time gas in the U.S. climbed above $4 per-gallon was in 2008. But we know news coverage then wasn’t as incessant and breathless as it is today because at the time President George W. Bush had no idea prices were heading towards $4 a gallon — that’s how little coverage there was.

With Russia’s invasion of Ukraine, which has disrupted the global energy markets and once again set gas prices higher, the coverage has become truly ceaseless. (See here, here, here, here, here, here, here, here, here, here. And that’s all just from one day.) “Gas” has already been mentioned 500 times this week on cable news, according to TVeyes. A huge majority of Americans say they’re fine paying more for gas because the U.S. now refuses to buy oil from Russia. Yet most of the news coverage suggests consumers are furious about the price increases.

Worse, today’s reporting consistently lacks crucial context that lets giant oil companies off the hook. Instead of shining a spotlight on their behavior and the central role they play in increased prices by refusing to drill for more crude, the press whitewashes Big Oil from the story, and keeps its focus on the White House. In doing so, they miss a big story.

“Rather than increase production or reinvest to meet the energy demand increase caused by the world reemerging from COVID-19 lockdowns, oil and gas companies are taking advantage of bloated prices, fleecing American families along the way,” noted Accountable US, progressive advocacy group that recently produced a report on Big Oil.

more...

https://pressrun.media/p/hysterical-gas-price-coverage-gives

[spanone]

1. K&R

CNN could not stop talking about gas prices yesterday, it was unbelievable.

[Emile]

2. It's time for these Predatory Capitalist oil companies to drop their

gouging and join the war effort!

[Probatim]

3. Big Oil was NPR this morning explaining how tough it is to be in their position.

It was a heartrending expose of the inner workings of the industry. Gasoline we buy at the pumps was purchased as crude several months ago and everyone gets their cut (except, I assume the oil companies) but the poor gas station owner operates on razor thin margins.

It takes 7 months for West Texas drillers to ramp up production and, again, my heart is weeping over this, 7 years for offshore production to occur. So don't expect any immediate relief.

When asked if oil companies are profiteering, the spokesman responded - yes, they're making profits, but they aren't enjoying this (or something like that - my brain was broken by that point).

So remember, when you're filling your car for $80 this week, remember who's really suffering. (Hint, it's not you. Really, it isn't, ask Big Oil.)

[Emile]

6. 7 months to ramp up production, sounds like blowing smoke up our ass

because it takes around 7 minutes to slow production.

[mcar]

4. Media needs to be called on this

[superpatriotman]

5. Gouging, baby

Plain and simple.

Write to the oil companies. Hold them to account

[MissMillie]

7. Russian oil 10% of our consumption

that's it. 10%


the increase in prices reflects far more than 10%.


And the increases started before the Russian invasion.


There's more going on here, for sure.

[Emile]

8. I heard it was 3% of our oil consumption.

[ProfessorGAC]

10. Actually, You're Both Right

From what I could find, it's around 3% of demand & about 10% of what we import.
Neither is an exact number, but pretty close.

[lame54]

9. Fleecing families and fixing elections