Neither. Prices fluctuate. It's good for some, bad for others.
They say that the cure for low oil prices is low oil prices (stimulates demand, raising the price). They also say that the cure for high oil prices is high oil prices (depresses demand, lowering price).
I think you’re right, Pearls. Sustained low prices might trigger a shakeout in shale oil production, but not a collapse. Weak producers will fail while stronger producers will survive, and innovation will eventually lower shale oil production costs for all. The Saudis can try to crush American competition but increased capacity is the new reality, and the Saudis are also hurting many of their OPEC allies who are living on the economic edge.
Bad for a few, good for the overwhelming majority.
I spend a fair amount on fuel every month. The extra savings go to my family.
Good post.
The free market ceased to exist the day when hussein and his criminal gang illegally seized power. There was a time, under Reagan and both Bushes, when the energy industry had pro-business types in government who understood the oil industry. But now the gyration of prices is being manipulated by the heavy hands of hussien, Soros, Buffet and the marxist muzzie overlords of the mideast. Things are very grim this Thanksgiving for business overall and the energy sector in particular.
Yes, indeed the fluctuations of the past did make sense and had market-based underpinnings. Since the hussien/holder/jarrett trio thugs have been in control, the free market has ceased. It's now a evil marxist model of manipulation at work and it crushes both the consumer and the producer.
Low transportation prices are good for everyone. Look for food prices to begin to lower.
Pray America is waking