Do you believe what the media is feeding us about the oil prices?

Question

I understand the media can only give us what they are allowed, and that leaves us wondering what the "rest of the story" is.

Answer 1

If gas goes to $4 then we will be happy at $3 and not even complain. The question is what is W doing about it? Why do we need an energy Department, what have they done. It's hurting the entire economy.

Answer 2

Primarily, Media runs on money. So, whoever pays more will get his version printed

Secondly, it represents the view point of the owner of that media

Thirdly, the policy of the government influences the media or is influenced by the policy

Fourthly, it depends on which target the news is adressed at. If it is about Iran, it will tag around Government version

Fifthly, the independant media, which can tell us the truth cannot survive because of political pressure and financial pinch.

So, the oil prices are politically, financially, policywise, media dependent. The price we find in media is not the price negotiated between two partners.

The price for the same type of oil may be with 30% or more discount for a friend and 10% more expensive for a foe. Media cannot find that, so what media reports is an averaged version

Answer 3

Not only is the media not telling the whole story, politicians are twisting the facts to appeal to their constituents. Oil prices are impacted by so many diverse things that most people don't take the time to understand them, including media and politicians.
The fact is, the biggest beneficiary of high gas prices in the government. They add taxes that rake in far more profits than the oil companies receive. And the government doesn't have ANY overhead! Politicians call for hearings to investigate prices, several hearings have been held, and guess what? No evidence of price gouging or unscrupulous activity by 'big oil'. Instead of demanding oil companies reduce prices, instead insist that government reduce taxes on gasoline.
Prices always go up, on everything. Get used to it.

Answer 4

Oil prices stated by the media are what they are...I don't think they are misrepresenting it. But what they keep leaving out is that our oil is heavily subsidized by the government, so gasoline will always be 'cheap', when they keep describing it as 'expensive'. Yes, it is expensive relative to what we have been paying, but it is still 'cheap' if you consider what we really should be paying. If we allowed market forces to set the fair price of gas, we really should be paying about $7-11 per gallon in 2007. But the subsidy encourages us to use more gas, find more uses (dependencies) on oil, and discourage the development of alternate fuels. I think the real incentive to develop alternate fuels might kick in when gas hits $8/gallon, depending on inflation.
Of course, a tax subsidy is not a discount...it's an illusion of cheap gas because we are paying for the subsidy from our taxes. It's only considered a discount for illegals who don't pay taxes.

Answer 5

The rest of the story is this:
World is running out of easy to retreive oil
US refineries are 40 years old and breaking down
Supply and demand is working
Oil companies are greedy, just like Microsoft's Bill Gates. Is he really worth $48 billion?
Do you complain about the high price of Windows Vista?

Answer 6

do due to ownership of major advertisements which it is them who run the show any show, our Media will feed us whatever
the stuck holders and advertisements wants.

there for none of us will ever receive all of the truth, only bunch of junks, like which celebrity's got drunk, hit some one, or cause what kind of car accidents.

so, personally i do not believe anything.

Answer 7

No, most days I don't even believe the media when it comes to the weather. God Bless.

Answer 8

All it takes is one reporter to have the back bone to be willing to tell us everything. I guess I'm a dreamer.