[C. Edmund Wright]

It goes deeper than that. When oil is high, millions of other jobs are lost as it slows down the economy. When oil is low, millions of jobs are created (it’s like a big tax cut to businesses and many individuals).

So you can be more than grateful - (which is proper) - you can appreciate the fact that nothing in economics is a zero sum game.

[Texas resident]

When the price of oil is this low, lots of jobs are lost. Drillers are idle, not purchasing replacement/new equipment. Equipment builders are not selling anything and have to lay off people. Suppliers to them aren’t selling anything and are having to lay off.
As long as the price is below the break even point, this will continue. It is a ripple effect and goes all through society. The article only refers to direct oil and gas jobs.

[mac_truck]

When oil is high, millions of other jobs are lost as it slows down the economy. When oil is low, millions of jobs are created (it’s like a big tax cut to businesses and many individuals).

Lol...wut?

[thackney]

When oil is low, millions of jobs are created

Is that why the economy has been booming for the last year?

Oh wait...

More than just the oil industry. We have lots and lots of business in this country that are indirect, but dependent on oil business orders.