An article entitled “Drilling doesn’t lower gas prices” (TNT, 3-25), claims what the title implies. On the first day of an advanced statistics course I took in college, the professor told his students, “Statistics don’t lie, but that doesn’t say anything for statisticians.” Apparently that holds true for pseudo scientists, journalists and AP reporters.
The Associated Press reporters who wrote the article would have readers believe increased drilling will not reduce gas prices. However, they fail to consider an important factor – the rate of increase in supply compared to the rate of increase in demand. If supply is increased but demand is increasing even faster, there will be upward pressure on prices. To reverse this situation, the supply will have to increase at a rate faster than that of demand.
Surely, the reporters must know that when you sink a drill bit in the ground it doesn’t result in more gas at the pump that very day, but without increased drilling, gas prices will increase even faster.
A quick check of co-author Jack Gillum’s background shows he’s little more than a liberal activist who is against drilling. A journalist he is not. His article belongs on the opinion page; it’s not an unbiased news story.