When your economy basically depends on oil sales, lower prices are devastating to an economy.
The U.S. is in better shape too when we are not held hostage to oil from bad actor countries.
We use oil to rev up and power our capitalist economy.
That is so correct in so many ways.
The way an economics professor explained to me. It is not the only belt on the pulley driving our production machine.
Meaning, if it slip, breaks or stretches the others will still keep on driving us along.