Publications: Notes at the Margin

Danger to the Oil Industry: Terrible General Reporting (May 11, 2026)

 

Gasoline prices will rise sharply in the United States in the coming weeks, even if the conflict in the Middle East calms. The increases will bring public outrage and political attacks from all directions. Unfortunately, the nation’s major press outlets are unprepared for the fury. Their weakness is particularly obvious at The New York Times, where the reporter covering the subject, Emmett Lindner, is new and seems uninterested in learning about the subject.

 

The consequences for the oil industry could be severe because Lindner’s coverage and that of other reporters will fan anger at the industry, possibly leading to regulatory steps that harm it and consumers. Those with long memories may recall how Senator Scoop Jackson and other politicians used the press’s ignorance of oil markets and public ire to push through allocation laws that burdened consumers with gasoline lines and shortages from 1973 to 1980.

 

This occasion should be different because many economists, political scientists, and policy makers have studied history and learned from it. However, the absence of enlightened, smart reporting on the oil market could lead to an erratic administration repeating past mistakes. The real threat to the industry will come in the next few weeks as the summer gasoline season begins.

 

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