Publications: Notes at the Margin

Myths and Facts about Oil Prices (November 13, 2023)

 

Many have written about social media’s ability to spread disinformation. The introduction of artificial intelligence (AI) has worsened matters. In “Fact or Fiction? In This War, It Is Hard to Tell,” for example, New York Times reporter Steven Meyers explains how the Israeli-Hamas war has spawned record amounts of false information. Those writing on oil do not AI to spread disinformation or myths about the fluctuations and direction of oil prices. They are doing it themselves. Here, we note that Bloomberg’s Grant Smith and Stanley Reed of The New York Times are among the chief spreaders of make-believe. Oil prices are falling for fundamental reasons and will likely keep falling. Seldom, though, do the mythmakers cite them.

 

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