But just think of all the money they are saving on cheap gas and how it is stimulating the economy! (/s)
I feel a price shock coming on. The Opeckers are producing at maximum rate and there is probably no room for any cushion when US production falls as it is doing now and will do so further until the boys that drill for source rock get cranked up again. Getting them going again after this crash will take a bit of doing.
We live in an Amrericentric and Eurocentric world and think that just because our economy is down the rest of the world is doing just exactly the same. That old line of when the US sneezes the world has a cold is fading I think. Our economy is artificially stifled by regulation and politics courtesy of obunghole. If he does move on, his legacy of disaster will be with us for a long time.. more than a decade I expect.