I remember when cheap oil was a good thing.
Yes it will now impact the American oil industry and fracking but it will be great for car owners and factories, air travel and energy costs.
And, in fact, it’s a double boon as this effectively destroys the Middle East cartel and hurts Russia too (if anything you’d think a smart leftist would be writing articles about how Trump and Putin are colluding to destroy the oil industry!)
Many of the small drillers have been bought up by the biggies. Exxon, etc. They can absorb the short-term loss. Yes, some will go under but if they did not see this coming.. that is unfortunate