Nonsense.
Simply nonsense.
Lower energy prices help the economy EVERYWHERE, with the exception of those who actually produce the energy.
Lower costs for manufacturers.
Lower costs for transportation.
Lower costs for consumers.
Funny how folks have short memories.
I don't.
The single most destructive element of the 1970's was rising (skyrocketing) petroleum prices due to the oil embargo of 1973. The high prices of fuel compounded rising prices and inflation everywhere.
Remember "Whip inflation now"?
The reason we HAD inflation was because of the embargo and energy prices.
I want to see oil prices KEEP coming down.
Glad to see light crude drop a little more today (just looked, it's at 53.6).
$40 -- or LESS -- sounds 'bout right to me.
-----------------------------------
Indeed, simply nonsense squared.
Lower input cost increases both revenue and margins.
Both Investors Daily and the Financial Times are reporting that the US
is now a net exporter of LNG and will be for Crude, as well, by late 2019.
WS analysts and their fans never leave the weeds, arguing over every
co-efficient, decimal and exponent, yet never grasping the larger picture.
The geological structure of the US has abundant oil as well as shale
formations, some at great depth which have filtered oil over millions of years.
As a consequence our oil requires little if any costly refining and as such
commands a high premium market price.
Nations such as Iran, Nigeria and Venezuela, among several, have no such
advantage.
Our BOP over the next generation will reflect this reality!!!