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Adjusted for Obfuscation

Reported by Melanie - March 5, 2008 -

Over the past eight or nine months, as the price of a barrel of oil has gone up and up, Neil Cavuto, Fox's "premiere business news" anchor, has repeatedly sought to allay his viewers' fears by reminding them that the price -- whatever it was on a given day -- was nothing when "adjusted for inflation" and compared to April, 1980, when oil reached its all time high of $102.81.

Well folks, oil reached $104.60 a barrel today (March 5, 2008). Cavuto was off but Terry Keenan reported on it. She said that amount, "is a record even adjusted for inflation." Yes, Fox covered its ass but just barely. Keenan didn't provide the context which was so important to Cavuto when he invoked the same "adjusted for inflation" reference when trying to convince viewers that the increases were no big deal.