You are missing the point. The $200 Billion they spent per year on new equipment and structures is missing as well.
Pipe, Valves, Pumps, Motors, Cables, Controllers, Structural Steel, etc.
The suppliers of those are hurting badly as well. The US has a lot of sales and indirect jobs that are shutting down.
“You are missing the point.”
And the article is missing the point that consumer spending is over 11 TRILLION per year. That’s an economy 55 times larger than the ancillary petroleum spending.
When the consumer has more money, the economy is much more positively impacted.
That[s true. But the $200 billion dollars is still there. It’s just not in the hands of the petroleum industry. It’s moved to other pockets. They spend it on something else. Yes, it’s a disruption. Yes it is bad for the economy where the petroleum industry is strong. But you need to look at the big picture.
Do you want to take that $200 billion and give it back to the petroleum industry and then take an extra $200 from consumers and give them some real help? Not me. Lowering energy costs is a huge boost to the economy. Raising them depresses the economy. But, you are right - high energy prices are good for the energy industry and yes they invest their profits. No doubt.