Ken Shepherd, writing on the Business & Media Institute web site, argues that recent coverage on CNN of high gasoline prices at the pump overstates the situation.
Shepherd wrotes, “Gas prices are on the rise again, but are they really just one penny below “all-time highs,â€? as CNN business reporter Carrie Lee suggested recently?
“‘Up 11 cents a gallon over the past two weeks,’ Lee reported on the July 10 ‘American Morning,’ citing a Lundberg survey noting that the $2.995-a-gallon cost was ‘just less than two cents below the all-time high set last year during Hurricane Katrina.’ A minute later Lee said it was ‘about a penny off from the all-time high.’
“That figure is actually 12 cents shy of the inflation-adjusted all-time high of $3.12, reached in April 1981.
“But Lee’s math is fuzzy even when not accounting for inflation. The highest average gas price recorded in 2005 was $3.057 in early September 2005, according to AAA’s FuelGaugeReport.com.”
Read more here.
The U.S. ambassador to the United Nations has lambasted Russia over its continued detention of…
Wall Street Journal editor in chief Emma Tucker sent out the following on Thursday: Today we announced…
Clare Malone of The New York writes about Hunterbrook, which is using reporting from journalists to…
The Hollywood Reporter awards editor Tyler Coates is leaving the news organization. His last day will be…
Laura Purkess has been promoted to consumer features editor at The Sun. She will maintain…
Pat Ferrier, senior business reporter at the Coloradoan in Fort Collins, is retiring after 23…