Oil Field

Creative Commons LicenseThe above image was created and is licensed by Today is a good day.

Wired is running a different journalistic take on the recent rise in gas prices. It’s not a take that many are unfamiliar with. The article blames the oil corporations for manipulating prices. This, of course, elicited accusations of liberal bias. I can understand why. Blaming greed and ‘evil’ corporations is often a knee-jerk reaction of many liberals. Still, even knee-jerk reactions can be right occasionally.

Before taking aim at the Exxon Mobile in particular, the author of the article, Howell Raines, takes the media to task. He accuses them of uncritically accepting oil companies’ line that prices are a result of supply-and-demand dynamics. One journalist he interviewed claims that this is because of the number of young, Reganomics-era journalists in newsrooms. The interviewee says, “Younger reporters come out of a mind-set that the market rules, taxes are evil, and government ought to let these people in the oil industry go about their business.”

Read the rest of this entry »