It's all well and good to put yourself in danger in the name of getting to the truth, but while looking into the blackout story, Lois has to go pick up her 5-year-old son, Jason. Sitters must be hell to find in Metropolis, because she decides to bring him along on her potentially dangerous investigation. She even boards Luthor's boat with the kid in tow -- which is, you know, breaking and entering.
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If he were really committed to protecting the innocent, Superman would've called Child Protective Services long ago.
Sure, at the time, Lois doesn't know she's dealing with Lex Luthor, but she has to suspect she's chasing someone very dangerous. Or at the very least doing something massively illegal -- both descriptors that generally do not make for a good field trip. Luckily, it turns out Jason was conceived by super-sperm and thus can protect them from Luthor's henchmen, but, again, Lois doesn't know that at the time. All she knows is that daycare costs like $20, kids like boats, and the truth isn't going to find itself.