Private Land Oil and Gas Drilling.
When they pulled back investment, growth collapsed once again in the US.
Lots of jobs in the oil sector. One of the few growth sectors in the economy despite 0bama and his policies. Lower oil prices will mean even fewer of those “green jobs” Hussein loves so much.
cheap oil is bad because lies are truth.
That’s only because the rest of the private economy is still depressed by the policies of 0bama and Congress with no hope for improvement on the horizon. McConnell and Boners fault now.
Oil and gas have not been cheap enough, long enough, to affect consumables; (i.e. food, energy, etc.). We need sustained cost reduction in order to lower prices and thereby boost the economy.
Just as the excess enthusiasm in drilling made the economy seem especially good, the irrational level of cut backs has made the decline especially bad.
Did this clown graduate from the Economics dept of university of obama? Cheap oil can “hurt” the economy because of the taxes involved will be smaller. In other words, the White Hut wants more suffering.
Yes, ridiculously cheap oil is bad for the US economy.
The oil markets have been chaotic ever since Obama won the Democratic Nomination in 2008.
Recall how just before the 2008 Election, oil went up to $140 a barrel and by his inauguration, the price of oil crashed.
He then instituted policies that ran oil to above $100 and the back down to the current devastating price collapse.
The American oilfield worker is endangered and thousands are being laid off every week and Obama refuses to help maintain oil at a healthy $120.
What this article means to say is that dramatic changes to the economy may help millions, but hurt some people. So, yes, cheap oil can hurt, so can expensive oil.
Many, many people were hurt by expensive oil over time before the cheap oil finally provided them some relief.
Cheap oil helps the economy. Big Government Obama, Democrat and RINO policies hurt the economy.
Because it isn’t oil prices that have made the economy bad and low oil prices can’t overcome what is making the economy bad. Obunghole is what has choked the economy.
Cheap gas can’t overcome idiocy in the Whitehouse and congress. That said I’ll take my savings where I can get them.
So, let me get this straight. The Obama administration has done everything in its power to kill a pro-business climate: gazillions of new federal regulations, Obamacare costs, tripleling of government spending, etc.
And, because the one area of our economy, oil and drilling, lost money because of over production from OPEC in order to hurt our fracking/shale oil business expansion, which will ultimately recover, THAT’s the reason our economy hasn’t rebounded??
What a joke.
lower prices at the pump means more money in consumer’s pocket which boosts the economy - all sectors of the economy. All of the other exclamations about low prices hurting the economy are smoke and mirrors,