On MSNBC there is an article "10 things you need to know about gas prices". It has some shockingly bad rubbish in it:
http://articles.moneycentral.msn.com/Sa ... rices.aspx
I was particularly struck by the second question:
"Is there something consumers can do now to immediately drive prices down?"
First they say "no" and quote a fool economist called Levitt. Then they say that the answer is to consume less, without apparently being aware of the contradiction. They blame high gas prices on lack of refineries, with the problem to last until 2009 when new capacity will be brought on stream.
Well, then why are gas prices high ALL OVER THE WORLD" if it's just a US refinery problem? And if the market is so efficient, then why is the price not being brought down by imports from other countries?
No mention of Peak Oil of course, or lack of global spare capacity, or absence of increase in production for two years.
This hardens my conviction the MSM will just go on misleading people and will never admit PO has happened. People will get more and more confused and angry.






