Why do we listen to reporters?

I know this sounds crazy but sometimes to sensationalize news, reporters go out of their way.
Almost ridiculously outside of common sense. For example. They were talking about the gas and oil pricing fluctuations on CNBC a while back. The anchor asked why the pump prices didn’t reflect the dip in the crude and the reporter claimed that it was because it would take a couple weeks like a delayed pricing.
WHAT?!?!
Yeah, that defies all logic. When crude goes up, the price at the pump goes up almost in sync. To claim this is almost on the side of absurd. Yet, the public just takes it in because someone “said so”. Another was the recent interview at a Detroit Chrysler plant with MSNBC. The guy in charge of restructuring gave some PR answers on how agile they were instead of hard facts when the MSNBC anchor asked about competition with the likes of the Japanese manufacturers such as Toyota.
I’ll tell you exactly why Toyota can beat Chrysler in manufacturing. If I’m not mistaken, in the span of a day or so, a Toyota plant can be converted to produce pretty much any line they currently make. You can’t do the same with a Chrysler plant. That flexibility is what is costing the Big 3. But the anchor just stood by and ate it up.
People need to think for themselves a little bit. The news is there, and the facts are reported, but make a serious effort to link cause and effect instead of standing idly by and just taking it in. I know it’s difficult to actually want to do logical reasoning when you’re stuck in a zombified state in front of the brain eating tube, but you must.
Must… make… decisions…for…self.

  • John Robinson

    I’d have told you not to watch TV news if you’d just asked!
    John Robinson

  • John Robinson

    I’d have told you not to watch TV news if you’d just asked!
    John Robinson

  • Umm… I don’t suppose you know of or agree with the logic behind HEDGING (which is a very large part of how oil is bought and sold).
    Hedging will delay any pricing of crude oil and its effects showing up at the pump near your house.

  • Umm… I don’t suppose you know of or agree with the logic behind HEDGING (which is a very large part of how oil is bought and sold).
    Hedging will delay any pricing of crude oil and its effects showing up at the pump near your house.

  • Using hedging is an excuse if I ever saw one.
    Real world facts. When crude goes up, you see it reflected at the pump. Period. I’ve watched gas and crude prices almost parallel in trends in positive fluxuations.
    Yet, if you look at the drops in crude pricing? It’s never in the same instance. Always delayed drops.
    Hedging is a way to protect the company from potential high risk. But that doesn’t explain the trends.

  • darkmoon

    Using hedging is an excuse if I ever saw one.
    Real world facts. When crude goes up, you see it reflected at the pump. Period. I’ve watched gas and crude prices almost parallel in trends in positive fluxuations.
    Yet, if you look at the drops in crude pricing? It’s never in the same instance. Always delayed drops.
    Hedging is a way to protect the company from potential high risk. But that doesn’t explain the trends.

  • Quintius

    If the price of crude oil goes up and the price of gasoline at the gas station goes up at the same time, then that’s capitalism. Feel free to not buy the gasoline if you feel you are being gouged.
    A change in price of crude oil (hedged or not) as a component of cost gasoline is always reflected in the future.
    Try it yourself. Buy a barrel of oil from Saudi Arabia on January 1st, ship it, refine it, ship the gasoline to your gas station, and see when you are selling it. Not in January. Probably not in February. Oil from the U.S. may make it in a couple of weeks.

  • Quintius

    If the price of crude oil goes up and the price of gasoline at the gas station goes up at the same time, then that’s capitalism. Feel free to not buy the gasoline if you feel you are being gouged.
    A change in price of crude oil (hedged or not) as a component of cost gasoline is always reflected in the future.
    Try it yourself. Buy a barrel of oil from Saudi Arabia on January 1st, ship it, refine it, ship the gasoline to your gas station, and see when you are selling it. Not in January. Probably not in February. Oil from the U.S. may make it in a couple of weeks.