Cheat-Seeking Missles

Thursday, March 10, 2005

More on Gas Price Hysteria

Dan picked rising gas price hysteria as his lead story on his last broadcast. Of course it is all Greenleft mallarky. With a hattip to Bookworm, here's what John Stossel says about it:
Well, it's time to wake up from the gas-price nightmare. All these media people are saying the gas prices are high for one simple, simple-minded reason: They are looking at big numbers — but they are not accounting for inflation. So the numbers look bigger than the costs actually are. That's what inflation does. The reporting is irresponsible and silly. Not adjusting for inflation would mean "Shrek 2" is one of the highest-grossing movies of all time.
More here.