What is crazy is one would think THE LOWERING OF GAS PRICES would be good for all businesses and competition.
After all is that not we are always told because more people will buy gas, and it will be cheaper to operate a business.
>>...one would think THE LOWERING OF GAS PRICES would be good for all businesses and competition.<<
And it is. Everyone using oil and gas is better off.
It’s the sellers and their financiers that will get creamed. If frackers, for example, have been borrowing money and continuing to produce, hoping for higher prices, their loans have just become harder to pay back or refinance because their operations aren’t profitable at the lower prices.
And some institutions own the high-yield debt. They could take a beating too. Plus any banks that have lent a lot to oil drillers.
The oil business is huge. People dependent on the industry to make money could take significant hits. That includes your IRA if it’s loaded with energy stocks.
But generally, you’re right, people are better off with lower energy prices. After all, we’ve seen what happens when oil prices skyrocketed in the 70’s. It cost consumers a lot of money when gas prices tripled overnight.