Anyone who decries the cost of oil being low as a bad thing is wrong
It puts a lot of people out of work.
Unless you live in West Texas, invested in American oil companies, and don’t want to go back to dependence on on the Saudis for oil.
Only to those that are in the oil industry. I live in oil country here in Texas and I can tell you the panic is setting in.
Obama is smiling that the oil industry is in deep trouble.
I am with you, in that I like paying less for gasoline and energy.
I do also concur with many economists, however, that the crashing price of oil is a sure and certain sign that the global economy is on its death bed.
The price of oil is one of the key barometers of the economic weather, like it or not.
As it says in the article posted:
"And back in December 2014, “Bond King” Jeff Gundlach had a serious warning for the world if oil prices got to $40 a barrel. “I hope it does not go to $40,” Gundlach said in a presentation, “because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be — to put it bluntly — terrifying.”