Ran across this interesting piece from Business Week, which doubles as a fairly strong indictment of business journalism. Sounds like the efforts to force gas prices back up are under way – again.
And, it reminds me of one of my pet peeves about television journalism: During the runup to $4 a gallon gas, invariably you’d find a TV reporter sitting in front of a commodities broker asking them the future of gas prices.
And equally invariably, the answer would be $5 a gallon. Or $6. Or $7. Or something typically self-serving.
Asking a commodities trader about the future of gas prices is a little bit like asking John Dillinger for a projection on bank robbery numbers nationwide.