EU-DIGEST: CEPR - Analysis: Myth - That Offshore Drilling Would Lower Gas Prices Gets Boost from Major Media

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Sep 6, 2008

CEPR - Analysis: Myth - That Offshore Drilling Would Lower Gas Prices Gets Boost from Major Media

For the complete report from CEPR click on this link

Myth - That Offshore Drilling Would Lower Gas Prices Gets Boost from Major Media

The media has played a significant role in convincing Americans that offshore drilling for oil in the United States could significantly lower the price of gasoline, according to an analysis released today by the Center for Economic and Policy Research. Even though the U.S. Department of Energy’s Energy Information Agency has stated that the benefits from such drilling would be too small to have any significant effect on oil prices, the media has overwhelmingly conveyed the impression that it could. Media coverage of the issue may have influenced public opinion, with a majority now favoring expanded drilling, as proposed by presidential candidate John McCain.

Labels: offshore drilling, Oil

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