“How is it a blood bath? The fact that crude is getting back down to where it is actually affordable to the “CONSUMER” the money not pissed away to the oil companies will stay in the pockets of the “CONSUMER” what a novel idea ? So they cut back on expansion fueled by false inflated prices from speculation and some lose their jobs ...what is wrong with free market principles? Are these workers to be treated like the hacks that push F__kin paper and treat WE THE “EMPLOYER” like crap and know they will never lose their overpaid (with benefits) job that most who employ them cannot obtain?...no sympathy here”
As you wish.
The price of oil getting to a certain range has fueled the drilling boom and increase in domestic production. Yes, this activity has created a lot of well paying American jobs in North Dakota, Pennsylvania, Texas, and elsewhere, and the spinoff has been a boon to the economy.
You are right that the consumer benefits when the price drops. But much of the pricing has to do with what OPEC decides to do with its output. That’s cartel pricing, not the free market.
Meanwhile, enjoy the savings at the gasoline pump. I am. But I’m not as giddy as you apparently are at the loss of American jobs.
Said the buggy whip manufacturer to the Automaker.