That’s odd because Middle America was being beat like a drum prior gas prices nose diving. Now the oil companies say America will not prosper with low gas prices?
Hmmm
I think you are being insensitive to the plight of the American oil industry and the hard working oil field professionals.
Life in west Houston and the Woodlands is going to get very rough and there will be a trickle down effect that will negatively impact the local BMW dealerships, endless pool designers and First Class flights to Tahiti.
Where are the people going to shop if the Neiman Marcus closes?
And the last time gasoline prices dropped? late 2008-2009, 1998~1999, can you point me to the prospering economy of those days?
We are the third largest oil producers in the world because we have a lot of people working in the industry. The effects on the economy are far more widespread than just the direct hires.
15% of total employment gains since the beginning of 2008 have come from the energy industry, even though it is less than 1% of the country’s job base.
http://money.cnn.com/2014/12/12/investing/oil-prices-job-cuts/