This will greatly damage the oil industry in the USA short term and those locations with large oil industry foot print. Of course these areas will not be helped because we need to help the Covid-19 affected areas. Buckle up since gasoline will go from $1 a gallon to $4 per gallon in two years!
This could have many consequences for the entire economy.
Isn’t the value of the US dollar related to the petrodollar?