So the BBC editor has a good story that fits the current narrative and runs it without research which would have shown that the price flucuates by a dollar or two within its (at present) downward spiral.

Whereas the Sky runs its interpretation (I actually found a Guardian article that put together all the reasons for the fall, and they included the weather and hedge fund changes of behaviour as well)

I’m not sure whether you’ve finally seen my point – that the media exerts its influence by reporting news in a partial way. The facts should in my view take precedence over the “interpretation” (or “spin”)

“Crude rises on Georgia fighting” :-

“US light, sweet crude rose 18 cents to $115.38 a barrel, while London Brent gained 38 cents to $113.71. Prices had earlier risen by more than a dollar.

Georgia is not an oil producer but the country is a key transit point for crude and gas exports.

Oil prices have fallen in recent weeks after hitting a record $147.27 in July.”

From Sky News today under the banner :-

“Supermarkets Slash Petrol Prices”

“The price of crude oil has slipped by almost $35 over the last six weeks, amid mounting concern that slower economic growth is reducing global demand, and currently stands at just over $113 a barrel.”

Nor am I anxious in any sort of problematic sense – a certain amount of cynicism reduces irrational anxiety, and encourages an independence of mind to
which you appear to be oblivious.

More risible nonsense.

Since you refuse to accept that a graph showing a fall from 147 to 115 is significant , let’s choose another example.

A Govt employee or minister hints to the media at an imminent tax policy change. The media report it as an unattributable rumour. People change their plans because they believe the rumour (or don’t, because they don’t believe it)

How on earth is that not corrupting?

The media colludes, does not operate in the real world, and feeds its own agenda.

“worst” and “best” are measurable from facts. “Opinions” rely on a massive amount of influences, many of which are corrupted by the media.

It is indeed.
Regular buyers of fuel at the pump are aware of the context. They know what a dramatic increase has ocurred in prices over the last four years .The AA say for supermarket diesel 80p Aug 04- 1.27p today-an increase of 59%.It would come as no surprise therefore to them if they were told that oil prices took off about that time too-though I grant you they might be surprised to learn that the oil price increase over that period was 188% ( 40$ to 115$ )

RE your quote from my post-you missed a bit-this bit :-

“all that is needed for clarity is the timescale (which you fail to provide).Then people can make a judgement about the trend over time.”

The timescale for the 140$-115$ fall which you seem so excercised about is one month.You must explain that if the figure is to have any meaning.And for perspective you must run your FT graph for the other timescales it offers- 3months,six months & a year.

If you don’t do this you are being selective-the crime which you accuse UK “editors” of.

But I dont think that is “corrupting” john-either by you or the editors.And so far as it’s effect on opinion polls-the thing which is upsetting you most I suspect-I just think the British Public are smarter than you fear.

I’ve had enough too now!

Eh? Your whole argument is that contextual explanation renders facts meaningful You make no sense, I’m afraid.

“the statement “oil price is increasing” is as true as “oil price is falling””

Colin I’ve read (and written !) some rubbish in my time, but that one beats everything! So unemployment is down and inflation is falling,eh?

THe oil price is treading at $115. It might go up again (in which case we’ll see headlines) or it might fall (in which case whether it makes the news will depend on the editors.)

Of course it’s corrupting.

http://markets.ft.com/tearsheets/performance.asp?s=us@cl.1

It can’t in any context be true that white is black. The petrol prices at the pumps that ypou base your whole attitude on should follow – unless of course the petrol producers manage to convince us that white is black. Good luck with your efforts to help them.

The oil price has been plummetting and this fact you continue to reject. That’s daft, and I’ve had enough!

The statement that “oil price is going through the floor” is quite ridiculous and totally misleading.

Our press does not “corrupt” democracy in my opinion-despite the warts.In any case ,the vast majority of fuel buyers/ newspaper readers can remember what they paid five years ago, and ten years ago .They don’t need you or anyone else to explain the “facts” to them.

As I have tried to argue, “facts” need context & perspective in order to become informative statistics. The facts I provided on oil price trend offer both-your fact offers neither.

Today the statement “oil price is increasing” is as true as “oil price is falling”-all that is needed for clarity is the timescale (which you fail to provide).Then people can make a judgement about the trend over time.

I don’t know the answer to your last question-but as I understand it the adjustment would provide stability of fuel price at or around the last Treasury oil price assumption. It would do so presumably until the next FY/ Treasury oil price forecast, when the figures would be re-calibrated-and so on.