I don,t recall any economic booms immediately following a sharp rise in energy prices.
I’m not claiming it did.
But many keep claim cheap US gasoline will be a boom for the economy, ignoring the loss of direct and indirect jobs and equipment orders that drop off with oil industry.
There will be some offsetting gains. But I think history shows the total economy has never jumped before in this situation. The reality is there is more going on than just gasoline prices. The drop in price is partially driven by slowing economies that have job impacts at the same time. Copper is also at a 5 year low. Lumber prices are down. It isn’t just oil.