This morning I was watching the news program of a major news progam and at exactly 7:30AM a giant headline appeared on the screen saying that a barrel of oil had closed at over $97US in New York at the end of the previous day of trading.
This is indeed quite significant news.
However, immediatly following this shocking headline there was 5 minute segment indicating the influence of such an increase in the price of oil. The new program deemed that the best way to focus the 5 minute segment was on how the price of preparing food at elementary schools has increased. Yes, that’s right, this news program decided that the aspect of expensive oil mosty worthy reporting is elementry school lunches. The 5 minute segment was filled with an explanation of why it was costing more (like transportation) and what schools were doing to cope with the increased costs as well as a good dose of parents whining about the few extra pennies (yen, really…) that they will have to pay for their elementary school attending children’s lunches (which presently stands at 230yen according to the program, about $2US.
I find it just laughable that this is what the news station feels is most worthy of reporting. But I guess what can I really expect, is there really any upside for the television station if the news network reports on what might actually happen in the event of extreme oil prices and an energy crunch.